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Korea Herald
11-07-2025
- Politics
- Korea Herald
S. Korea, US open drive to ‘modernize' alliance in full-fledged talks
Alliance talks touch on US demands for higher Korean defense spending, troop posture review South Korea and the United States held 'full-fledged and focused' talks this week to discuss modernizing their alliance, with the aim of strengthening its capabilities and readiness posture amid an evolving regional security environment, the Foreign Ministry said Friday. The director-general-level consultations, held Thursday and Friday in Seoul, marked the first public working-level talks on the subject, bringing together key foreign affairs and defense officials from both sides. Kevin Kim, deputy assistant secretary for China, Japan, Korea, Mongolia and Taiwan at the US State Department, and Hong Jeepyo, director-general for North American affairs at South Korea's Foreign Ministry, led their respective delegations during the meeting. 'The two sides discussed ways to strengthen the US-ROK Alliance into a future-oriented, comprehensive strategic alliance, and to modernize the Alliance in a mutually beneficial manner in the face of an evolving regional security environment,' an English-language joint press release read. The ROK is the acronym for South Korea's official name, the Republic of Korea. The press statement did not share further details, including the agenda topics for the consultations. When asked by The Korea Herald about the specific agenda topics discussed, a Foreign Ministry official, speaking on condition of anonymity, said, 'Extensive consultations were held regarding the future direction of the alliance, including the strengthening of its capabilities and posture.' The Korea Herald learned from diplomatic sources that the consultations included discussions on US calls for South Korea to increase its own defense spending and the potential recalibration of the posture of US Forces Korea. The US side has defined alliance modernization as a shift toward jointly addressing new strategic challenges and emerging regional issues — particularly those stemming from intensifying US-China competition. From the US side, alliance modernization includes the repositioning of US assets and defense capabilities, and the recalibration of the posture of US forces in the Indo-Pacific region, such as US Forces Korea and US Forces Japan. The US has called for South Korea to increase its defense spending. In late June, National Security Adviser Wi Sung-lac, who attended the NATO summit on behalf of President Lee Jae Myung, said that President Donald Trump had delivered a request to South Korea similar to his call for NATO members to raise their defense spending to around 5 percent of GDP. On the matter, the unnamed official said the "Korean government maintains its position that defense spending is a sovereign matter to be determined based on a comprehensive review of both domestic and international security conditions, as well as the government's fiscal capacity." The official underscored that "Korea is among the key US allies with one of the highest levels of defense spending relative to GDP." "South Korea has continued to steadily increase its defense budget in light of the grave security situation, including North Korea's nuclear and missile threats," the official said, adding that Seoul will continue efforts to reinforce its defense capabilities and posture. 'These efforts are expected to be shared with the US side in the course of bilateral security consultations.' In late June, Joseph Yun, charge d'affaires ad interim at the US Embassy in Seoul, said the allies should revisit South Korea's financial contributions beyond the scope of the current Special Measures Agreement — the defense cost-sharing deal between the two countries. South Korea has financially supported the stationing of approximately 28,500 US Forces Korea personnel by covering three major categories: labor costs for USFK's Korean employees, construction expenses for military facilities, and logistical support for military operations — all under the framework of the SMA. In response to The Korea Herald's question about whether the allies discussed South Korea's coverage of costs beyond the SMA — such as expenses for the deployment of US strategic assets — a second unnamed official dismissed the possibility of Seoul accepting such a proposal, even if it were formally raised by the US. Focused talks amid packed diplomatic calendar The Foreign Ministry emphasized the need for face-to-face talks to discuss alliance modernization when asked by The Korea Herald about the rationale for holding two days of in-person consultations on the matter, separate from other high-level talks with the US on Friday. 'In particular, as new administrations have recently been launched in both countries, the two sides have been consulting on the future direction of the alliance, including strengthening its capabilities and posture amid a changing security environment,' the first unnamed official said. 'Against this backdrop, the official consultations were held based on a shared understanding between the two sides of the need for more full-fledged and focused discussions.' On Friday, South Korea, the United States and Japan held a trilateral foreign ministers' meeting — the first since the launch of the Lee Jae Myung administration — on the sidelines of the ASEAN-related Foreign Ministers' Meetings in Kuala Lumpur, Malaysia. Vice Foreign Minister Park Yoon-joo represented South Korea in place of Foreign Minister nominee Cho Hyun, who is awaiting a confirmation hearing at the National Assembly. Also on Friday, the chairmen of the joint chiefs of staff from South Korea, the US and Japan convened in Seoul for the Trilateral Chiefs of Defense meeting.
Yahoo
08-07-2025
- Business
- Yahoo
Sysco to Announce Fourth Quarter and Fiscal Year 2025 Financial Results on July 29
HOUSTON, July 08, 2025 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE:SYY) will host a conference call and webcast to discuss its fourth quarter and fiscal year 2025 financial results at 10 a.m. EDT on Tuesday, July 29, 2025. All interested parties are invited to listen online at Prior to the conference call and webcast, the company will also issue a news release and post a slide presentation in the investor relations section of its website. A replay of the webcast will be available online shortly after the live webcast is completed. For purposes of public disclosure, including this and future similar events, Sysco uses the investor relations section of its website, found at as the primary channel for publishing key information to its investors, some of which may contain material and previously non-public information. About Sysco Sysco is the global leader in selling, marketing and distributing food and related products to customers who prepare meals away from home. This includes restaurants, healthcare and educational facilities, lodging establishments, entertainment venues, and more. Sysco operates 340 distribution centers, in 10 countries, with 76,000 colleagues serving approximately 730,000 customer locations. The company generated sales of more than $78 billion in fiscal year 2024 that ended June 29, 2024. As the world's largest food-away-from-home distributor, Sysco offers customized supply chain solutions, bespoke specialty product offerings, and culinary support to drive customers to innovate and optimize their operations. We act as a trusted business partner to our customers, helping them grow through our industry-leading portfolio that includes fresh produce, premium proteins, specialty products, sustainably focused items, equipment and supplies, and innovative culinary solutions. For more information, visit For important news and key information for Sysco investors, visit the Investor Relations section of the company's website at For more information contact: Kevin Kim Cassandra Mauel Investor Contact Media Contact T 281-584-1219 T 281-584-1390 SYY- INVESTORSSign in to access your portfolio
Yahoo
24-06-2025
- Business
- Yahoo
HOPE Q1 Deep Dive: Loan Growth Outlook and Territorial Merger Integration Define 2025 Strategy
Regional banking company Hope Bancorp (NASDAQ:HOPE) announced better-than-expected revenue in Q1 CY2025, but sales fell by 5.5% year on year to $116.5 million. Its non-GAAP profit of $0.19 per share was in line with analysts' consensus estimates. Is now the time to buy HOPE? Find out in our full research report (it's free). Revenue: $116.5 million vs analyst estimates of $115.4 million (5.5% year-on-year decline, 0.9% beat) Adjusted EPS: $0.19 vs analyst estimates of $0.19 (in line) Market Capitalization: $1.3 billion Hope Bancorp's first quarter was marked by stable asset quality and a positive market response, as revenue modestly exceeded Wall Street's expectations despite a year-over-year decline. CEO Kevin Kim attributed the quarter's performance to disciplined expense management, improved net charge-offs, and targeted focus on deposit mix enhancements. The completion of the Territorial Bancorp merger added low-cost deposits and high-quality residential mortgage loans, which management highlighted as a key contributor to Hope Bancorp's strengthened capital position. CFO Julianna Balicka emphasized that noninterest income also gained momentum due to continued growth across several fee-based business lines. Turning to the remainder of the year, Hope Bancorp's outlook centers on high single-digit loan growth, with the addition of the Territorial franchise and new hires supporting expansion in specialized lending verticals. Management cited opportunities from increased direct investments by Korean companies in the U.S. as a potential driver of loan demand, particularly in sectors like healthcare, project finance, and structured finance. CEO Kevin Kim cautioned that macroeconomic uncertainty and fluctuating interest rates could temper results, but reaffirmed a commitment to prudent balance sheet growth, stating, 'We remain focused on supporting our customers while navigating an evolving external environment.' Management pointed to the successful integration of the Territorial merger and a shift in deposit and loan mix as major themes impacting first quarter results and ongoing strategy. Territorial merger completed: The acquisition of Territorial Bancorp closed in early April, bringing $1.7 billion in stable, low-cost deposits and $1 billion of high-quality residential mortgage loans. Management believes this strengthens Hope Bancorp's funding base and supports future loan growth. Deposit mix improvement: Customer deposits increased, while brokered deposits—typically more expensive and less stable—were intentionally reduced to below 7% of total deposits, reflecting a strategic focus on core funding sources. Expense discipline maintained: Noninterest expense, excluding notable items, was down year-over-year due to ongoing cost management, though quarter-over-quarter expenses rose on seasonal payroll and benefits adjustments commonly seen in the first quarter. Loan portfolio trends: The loan book showed a 7% increase in residential mortgages, offset by declines in commercial and industrial, as well as commercial real estate lending. Competitive market pricing and selective renewals contributed to subdued net loan growth. Asset quality remains stable: Nonperforming assets and net charge-offs both improved versus the prior quarter, with management noting continued vigilance in monitoring potential credit risks, especially in the face of geopolitical and trade uncertainties. Hope Bancorp's management expects future performance to be shaped by continued loan growth in specialized sectors, successful integration of Territorial, and sensitivity to interest rate moves. Specialized lending expansion: Management is prioritizing growth in verticals such as healthcare, project finance, and structured finance, leveraging new team hires and strengthening pipelines, especially among Korean subsidiary clients investing in the U.S. Interest rate environment impact: CFO Julianna Balicka explained that both net interest income and margin will be influenced by federal rate cuts, as variable-rate loans and deposit costs offset each other. Fewer rate cuts than expected could cause modest downward pressure but are not projected to materially change guidance. Integration of Territorial operations: The merger's success depends on realizing expected accretion from Territorial's loan book and extracting cost and operational synergies. Management also highlighted the importance of growing fee-based income to offset lower net interest income projections. Looking ahead, the StockStory team will be monitoring (1) the effectiveness of integrating Territorial's operations, especially in realizing cost and revenue synergies; (2) pipeline development and loan demand—particularly from Korean subsidiaries and specialized lending groups; and (3) the bank's ability to maintain strong asset quality as macroeconomic and industry conditions evolve. Growth in fee-based income lines will also be a key area of focus. Hope Bancorp currently trades at $10.36, up from $9.57 just before the earnings. At this price, is it a buy or sell? See for yourself in our full research report (it's free). Donald Trump's victory in the 2024 U.S. Presidential Election sent major indices to all-time highs, but stocks have retraced as investors debate the health of the economy and the potential impact of tariffs. While this leaves much uncertainty around 2025, a few companies are poised for long-term gains regardless of the political or macroeconomic climate, like our Top 5 Growth Stocks for this month. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). 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.
Korea Herald
20-05-2025
- Politics
- Korea Herald
S. Korea, US, Japan hold talks to reaffirm 'unwavering' commitment to trilateral cooperation
Diplomats from South Korea, the United States and Japan convened their trilateral secretariat managing board in Washington on Monday to reaffirm the three countries' "unwavering" commitment to advancing three-way cooperation, the State Department said. Yi Won-woo, deputy director-general for North American affairs at Seoul's foreign ministry; US Deputy Assistant Secretary of State for China, Japan, Korea, Mongolia and Taiwan Kevin Kim; and Akihiro Okochi, deputy director-general for Asian and Oceanian affairs at Japan's foreign ministry, led the meeting of the Trilateral Coordinating Secretariat Managing Board. "The meeting underscored the shared vision for a free and open Indo-Pacific and the importance of institutionalizing collaboration across economic, security, and people-to-people domains," the department said in a media note. Board members took stock of recent progress on trilateral cooperation efforts and discussed the next steps to enhance coordination, increase information sharing and strengthen joint responses to regional and global challenges, the department said. "The Managing Board emphasized continued support for the Secretariat's work in operationalizing trilateral outcomes and sustaining momentum across priority lines of effort," it said. In November, the three countries announced the establishment of the secretariat to institutionalize trilateral cooperation in the face of regional and global challenges, including North Korea's advancing nuclear and missile threats, Russia's war in Ukraine and China's growing assertiveness. (Yonhap)
Yahoo
13-05-2025
- Business
- Yahoo
Sysco to Webcast Presentation at the Deutsche Bank Access Global Consumer Conference 2025
HOUSTON, May 13, 2025 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE:SYY) today announced that the Company will webcast its presentation from the 2025 Deutsche Bank Access Global Consumer Conference in Paris, France on Tuesday, June 3, at 4:15 a.m. CDT or 11:15 a.m. CEST. The live webcast for the event can be accessed at An archived replay of the webcast will be available shortly after the live event is completed. For purposes of public disclosure, including this and future similar events, Sysco uses the investor relations portion of its website as the primary channel for publishing key information to its investors, some of which may contain material and previously non-public information. About Sysco Sysco is the global leader in selling, marketing and distributing food and related products to customers who prepare meals away from home. This includes restaurants, healthcare and educational facilities, lodging establishments, entertainment venues, and more. Sysco operates 340 distribution centers, in 10 countries, with 76,000 colleagues serving approximately 730,000 customer locations. The company generated sales of more than $78 billion in fiscal year 2024 that ended June 29, 2024. As the world's largest food-away-from-home distributor, Sysco offers customized supply chain solutions, bespoke specialty product offerings, and culinary support to drive customers to innovate and optimize their operations. We act as a trusted business partner to our customers, helping them grow through our industry-leading portfolio that includes fresh produce, premium proteins, specialty products, sustainably focused items, equipment and supplies, and innovative culinary solutions. For more information, visit For important news and key information for Sysco investors, visit the Investor Relations section of the company's website at SYY-INVESTORS For more information contact: Kevin Kim Cassandra Mauel Investor Contact Media Contact T 281-584-1219 T 281-584-1390
