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The Hindu
a day ago
- Business
- The Hindu
Liberal opposition candidate Lee Jae-myung elected South Korea's new President
South Korea's liberal opposition candidate Lee Jae-myung was elected President early on Wednesday (June 4, 2025, KST), a victory that would cap months of political turmoil triggered by the stunning but brief imposition of martial law by now-ousted conservative leader Yoon Suk Yeol. It was unclear whether Mr. Lee's election would cause any major, immediate shift in South Korea's foreign policy. Mr. Lee, previously accused by critics of tilting toward China and North Korea and away from the U.S. and Japan, has repeatedly stressed South Korea's alliance with the U.S. as the foundation of its foreign policy. The toughest external challenges awaiting a new president are U.S. President Donald Trump's tariff policy and North Korea's advancing nuclear program. But experts say whoever becomes President can't do much to secure major progress in South Korea's favor on those issues. With nearly 95% of ballots counted as of 2.40 a.m. KRT on Wednesday (June 4, 2025), Mr. Lee, the Democratic Party candidate, led with 48.86% of votes. The main conservative candidate, Kim Moon Soo, had 41.98%. The exit poll by South Korea's three major television stations — KBS, MBC and SBS — earlier showed Mr. Lee projected to obtain 51.7% of total votes cast, beating Mr. Kim with 39.3%. Pre-election surveys suggested Mr. Lee appeared headed for an easy win, riding on deep public frustration over the conservatives in the wake of Mr. Yoon's martial law debacle. Even before Mr. Lee's win was formally declared, Mr. Kim conceded, telling journalists he 'humbly accepts the people's choice' and congratulated Mr. Lee. Earlier, Mr. Lee appeared before thousands of cheering supporters in the streets of Seoul. He didn't formally claim victory but reiterated his major policy goals such as revitalizing the economy, promoting peace with North Korea and easing a domestic divide. 'Let us move forward with hope and make a fresh start from this moment on,' he said. 'Though we may have clashed for some time, even those who did not support us are still our fellow citizens of the Republic of Korea.' The winning candidate will immediately be sworn in as president on Wednesday (June 4, 2025) for a single, full term of five years without the typical two-month transition period. Mr. Lee, who served as Governor of Gyeonggi Province and mayor of Seongnam city, has been a highly divisive figure in politics for years. As a former child labourer known for his inspirational rags-to-riches story, Mr. Lee came to fame through biting criticism of the country's conservative establishment and calls to build a more assertive South Korea in foreign policy. That rhetoric has given him an image as someone who can institute sweeping reforms and fix the country's deep-seated economic inequality and corruption. His critics view him as a dangerous populist who relies on political division and backpedals on promises too easily. On foreign policy, Mr. Lee has has vowed to pursue pragmatic diplomacy. He has promised to solidify a trilateral Seoul-Washington-Tokyo partnership, a stance that isn't much different from the position held by South Korea's conservatives. He said he would pursue better ties with North Korea but acknowledged that it would be 'very difficult' to realize a summit with North Korean leader Kim Jong Un anytime soon. This signals Mr. Lee won't likely initiate any drastic steps meant to improve relations with North Korea. Experts say there aren't many diplomatic options for South Korea as it tries to address Mr. Trump's tariff hikes and calls for South Korea to pay more for the cost of the U.S. military presence, as well as North Korea's headlong pursuit of nuclear weapons. Experts say that has made both Mr. Lee and Mr. Kim Moon Soo avoid unveiling ambitious foreign policy goals.
Yahoo
26-05-2025
- Business
- Yahoo
AKVA group ASA: Mandatory notifications of trade
In connection with allocation of shares under AKVA group ASA's (the "Company") long term incentive program, the following primary insiders have on May 26, 2025 been distributed shares in the Company as set out below. The distributions are made on the basis of the Company's treasury shares. Following the distributions, the Company's holding of treasury shares amounts to 292,029 shares. - Nesse & Co AS, a company controlled by CEO Knut Nesse, 23,418 shares - Ronny Meinkøhn (CFO), 11,709 shares - Kristian Botnen (COO Sea Based Nordic), 5,260 shares - Johan Fredrik Gjesdal (COO Land Based), 5,260 shares - Glenn Mo (COO Egersund Net), 5,260 shares - Asle Kjetil Bratteli (CDO), 5,260 shares - Ståle Økland (Group Director of Communications and ESG), 5,260 shares - Maren Hognestad Sunde (Group HR Director), 5,260 shares After the allocation, the new shareholdings of the relevant primary insiders are as follows: - Knut Nesse (CEO), directly or through Nesse & Co AS, 294,372 shares - Ronny Meinkøhn (CFO), 35,127 shares - Kristian Botnen (COO Sea Based Nordic), 16,939 shares - Johan Fredrik Gjesdal (COO Land Based), 17,487 shares - Glenn Mo (COO Egersund Net), 15,780 shares - Asle Kjetil Bratteli (CDO), 15,780 shares - Ståle Økland (Group Director of Communications and ESG), 15,780 shares - Maren Hognestad Sunde (Group HR Director), 15,780 shares Please refer to the attached notifications of trading for further details. For more information about the long term incentive program, please refer to the guidelines for determination of wages and other remuneration for the executive management published by the Company on 29 April 2025. This information is subject to the disclosure requirements pursuant to Regulation EU 596/2014 (MAR) article 19 number 3 and the Norwegian Securities Trading Act section 5-12. Dated: 26 May 2025AKVA group ASA Web: CONTACTS: Knut Nesse Chief Executive Officer Phone: +47 51 77 85 00 Mobile: +47 91 37 62 20 E-mail: knesse@ Meinkøhn Chief Financial Officer Phone: +47 51 77 85 00 Mobile: +47 98 20 67 76 E-mail: rmeinkohn@ Attachments KRT 1500 - Johan Fredrik Gjesdal KRT 1500 - Staale Okland KRT 1500 - Asle Bratteli KRT 1500 - Maren Hognestad Sunde KRT 1500 - Glenn Mo KRT 1500 - Kristian Botnen KRT 1500 - Knut Nesse KRT 1500 - Ronny MeinkohnError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
![[Editorial] Korea's crypto gambit](/_next/image?url=https%3A%2F%2Fall-logos-bucket.s3.amazonaws.com%2Fkoreaherald.com.png&w=48&q=75){kind=small}
Korea Herald
22-05-2025
- Business
- Korea Herald
[Editorial] Korea's crypto gambit
Democratic Party's hasty push for crypto politics must not outpace policy prudence Crypto is crashing the campaign trail. With South Korea's presidential election on June 3 fast approaching, one of the more unlikely issues to seize the spotlight is stablecoins — digital tokens tied to real-world currencies. At the forefront is the main opposition Democratic Party of Korea, which has positioned won-backed stablecoins as a flagship of its digital finance agenda. Advocates argue they will preserve monetary sovereignty and foster innovation. Yet the speed with which this intricate issue has been politicized raises critical concerns — not only about financial technology, but about the maturity of political leadership. The national spotlight on stablecoins sharpened following the first televised presidential debate on May 18. The Democratic Party's nominee, Lee Jae-myung, declared that Korea must 'build a won-based stablecoin market' to avert digital exclusion and protect national assets. Party lawmakers quickly echoed that urgency. Rep. Min Byoung-dug warned that South Korea risks being sidelined by the rise of dollar-backed tokens and called for the development of a domestic alternative to ensure global competitiveness. Rep. Kwon Chil-seung added that such a system could buffer small enterprises against exchange-rate volatility, long a barrier to cross-border capital movement. The argument is, at least in part, compelling. As the United States advances the Genius Act — a legislative effort to formalize dollar-denominated stablecoins — South Korean policymakers are understandably wary of losing ground in a race that could define the future of sovereign finance. For the Democratic Party, stablecoins serve as a digital hedge against the encroaching influence of the dollar in an increasingly dematerialized financial system. From this perspective, inaction looks less like prudence and more like surrender. But enthusiasm has met resistance. Lee Jun-seok, the candidate of the minor conservative New Reform Party, has raised pointed questions about the Democratic Party's readiness. He cited the 2022 collapse of the Terra-Luna project, whose won-pegged stablecoin, KRT, lacked the collateral backing required for price stability. Its dramatic failure erased billions in investor value and left regulators scrambling. 'There's no explanation for collateral, market risks or safeguards against past failures,' Lee cautioned, accusing the Democrats of cloaking risky ideas in techno-utopian language. Indeed, the Democratic Party appears to be charting a path toward stablecoin adoption without a road map for regulation. When pressed in the debate, Lee Jae-myung vaguely assured that a one-to-one reserve ratio would preserve stability — but offered little clarity on how those reserves would be verified, how illicit transactions would be deterred, or which institutions would be accountable. Meanwhile, the Bank of Korea has taken a firm stance: If won-based stablecoins are to enter circulation, the central bank must have direct authority over their approval and oversight. Anything less, it warns, risks eroding the effectiveness of monetary policy, destabilizing the broader financial system and encouraging regulatory arbitrage. The shadow of Terra-Luna still hangs heavy, and the consequences of repeating that mistake could be far-reaching. None of this is to dismiss the utility of tokenized assets. In theory, stablecoins could lower transaction costs, streamline payments and widen access to financial services. But elections are a poor moment to experiment with systems that even central banks approach warily. Political campaigns reward bold ideas, not careful vetting. What South Korea needs now is the latter. The country has already paid once for its crypto exuberance. There is no shame in caution, only in forgetting. Stablecoins may yet have a role to play in South Korea's financial architecture. But that role must be earned, not assumed — and certainly not imposed on the fly, mid-campaign, without a safety net. The danger is not that Korea is too late to the party. It is that it arrives too soon, and with too little preparation.
Yahoo
22-05-2025
- Automotive
- Yahoo
1 Stock Under $50 to Target This Week and 2 to Think Twice About
Stocks in the $10-50 range offer a sweet spot between affordability and stability as they're typically more established than penny stocks. But their headline prices don't guarantee quality, and investors should exercise caution as some have shaky business models. This is precisely where StockStory comes in - we do the heavy lifting to identify companies with solid fundamentals so you can invest with confidence. That said, here is one stock under $50 with huge potential and two that could be down big. Share Price: $31.54 Bringing transparency to a sometimes opaque process, CarGurus (NASDAQ:CARG) is a digital marketplace where auto dealers can connect with potential customers and where car buyers can browse, purchase, and obtain financing. Why Does CARG Worry Us? Market opportunities are plateauing as its paying dealers were flat over the last two years Projected sales growth of 6% for the next 12 months suggests sluggish demand Earnings growth underperformed the sector average over the last three years as its EPS grew by just 5.8% annually At $31.54 per share, CarGurus trades at 11.7x forward EV/EBITDA. If you're considering CARG for your portfolio, see our FREE research report to learn more. Share Price: $30.83 Founded as Lollicup, Karat Packaging (NASDAQ: KRT) distributes and manufactures environmentally-friendly disposable foodservice packaging solutions. Why Are We Wary of KRT? 2.1% annual revenue growth over the last two years was slower than its industrials peers Earnings growth over the last two years fell short of the peer group average as its EPS only increased by 5.9% annually Low free cash flow margin of 4.5% for the last five years gives it little breathing room, constraining its ability to self-fund growth or return capital to shareholders Karat Packaging's stock price of $30.83 implies a valuation ratio of 11.3x forward EV-to-EBITDA. Dive into our free research report to see why there are better opportunities than KRT. Share Price: $18.54 Known for powering the emergency SOS feature in newer Apple iPhones, Globalstar (NASDAQ:GSAT) operates a network of low-earth orbit satellites that provide voice and data communications services in remote areas where traditional cellular networks don't reach. Why Are We Fans of GSAT? Annual revenue growth of 20.7% over the past two years was outstanding, reflecting market share gains this cycle Incremental sales significantly boosted profitability as its annual earnings per share growth of 33.7% over the last two years outstripped its revenue performance Impressive free cash flow profitability enables the company to fund new investments or reward investors with share buybacks/dividends, and its rising cash conversion increases its margin of safety Globalstar is trading at $18.54 per share, or 22.3x forward EV-to-EBITDA. Is now a good time to buy? Find out in our full research report, it's free. Market indices reached historic highs following Donald Trump's presidential victory in November 2024, but the outlook for 2025 is clouded by new trade policies that could impact business confidence and growth. While this has caused many investors to adopt a "fearful" wait-and-see approach, we're leaning into our best ideas that can grow regardless of the political or macroeconomic climate. Take advantage of Mr. Market by checking out our Top 5 Strong Momentum Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 176% over the last five years. Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Tecnoglass (+1,754% five-year return). Find your next big winner with StockStory today for free.
Barnama
15-05-2025
- Politics
- Barnama
National-level Rukun Tetangga Golden Jubilee To Be Held In August
SEGAMAT, May 15 (Bernama) -- The national-level Golden Jubilee celebration of the 50th anniversary of Rukun Tetangga (KRT) will be held at the Kampung Kasipillay Rukun Tetangga Area (KRT) in Kuala Lumpur on Aug 28. National Unity Minister Datuk Aaron Ago Dagang said the celebration will continue the following day at Galaxy Hall in Sentul, also in the federal capital. 'In line with the changing times and five decades of KRT's presence in the country, I am pleased to announce that 'Empowering Communities, Strengthening Unity' will be the new slogan for KRT,' he said when officiating the Johor State-level Unity Week celebration and pre-launch of the Rukun Tetangga Golden Jubilee 2025 at Dataran Segamat here today. Also present were National Unity Ministry deputy secretary-general, Mohamad Sobri Mat Daud, and Department of National Unity and Integration director-general, Datuk Roslan Che Daud. Aaron said the establishment of the first KRT in Kampung Kasipillay on Aug 29, 1975 marked the beginning of the KRT initiative nationwide, which has proven to be one of the most effective policies in building a united national identity. 'It not only reflects the government's concern for the well-being of the people but also positions the rakyat as agents of change in shaping the country's future,' he said. Aaron also said that in 2024, a total of 152 Rukun Tetangga units were modelled as drivers of progressive communities, an initiative to elevate the role of KRT within communities across the country. During the event, Aaron also launched the new KRT logo. Speaking to reporters after the celebration, Aaron said there are currently 8,529 KRTs nationwide, with 20 per cent of KRT chairmen being youths, proving the strong commitment of the younger generation in strengthening local community unity.
