ASEAN News

According to the most recent data produced by the Bank for International Settlements and released on Thursday, South Korea’s total debt- household, corporate, and government liabilities alike- grew by 4% within the third quarter of the past year, breaking its debt threshold past 6.2 quadrillion won ($4.24 trillion), which has now become 2.5 times the GDP of the country. Thus, …

Hong Kong billionaire Li Ka-shing sold Panamanian port terminals to a US-led group, causing diplomatic conflicts between Washington and Beijing because of Latin American geopolitical competition. CK Hutchison completed its $22.8 billion deal on March 6 to unload its worldwide port terminals to a consortium led by BlackRock US due to 96-year-old Li Ka-shing’s decision. Shortly after the deal, President …

In a major setback for Korea’s burgeoning stars, a court in South Korea has ruled against NewJeans, disregarding their effort to be freed from their label, Ador. The recent ruling thus puts an inability for the group, who had recently changed its name to NJZ, to engage in independent activities—define: to make music, sign deals, or perform—without Ador’s approval. The …

Indonesia and Vietnam have completed their long-negotiated and pending ratification of their maritime boundaries. While this will probably improve maritime security and help prevent illegal fishing, the agreement will likely cause rifts with China because of the latter’s territorial claims in the South China Sea. President Prabowo Subianto said he was mulling ratifying the Exclusive Economic Zone (EEZ) treaty with …

Lawmakers across parties worry about the Trump administration’s decision to stop funding the Open Technology Fund because leading Republicans view this nonprofit as important for fighting China’s influence. The Open Technology Fund founded its programs in 2012 and works to deliver safety and internet access tools to people whose governments restrict their online rights. The OTF helps people stay secure …

A man named Liu received the death penalty in China for selling secret documents to foreign spies, as confirmed by the State Security Ministry’s announcement on Wednesday. Liu took classified documents after resigning from his research institute because he held anger towards the institute.  One year after debt pushed him to bankruptcy, Liu offered undisclosed state documents to overseas spies …

ASEAN has been a long-standing anchor for stability in Southeast Asia, laying the groundwork for economic and political cooperation, establishing dialogue, and promoting a security architecture based on rules and mutual respect. Today, with several complex challenges facing the region, it is as vital as ever that ASEAN continues to be part of the management of these challenges. Founding Principles: …

Japan will deploy long-range missiles on the southern island of Kyushu next year due to the regional tensions and uncertainties of the Trump administration regarding its commitments to security alliances. These missiles are estimated to have a range of about 1,000 km which makes them applicable to strike North Korean and coastal Chinese targets. Strengthening the defenses of Japan According …

On Monday China started military exercises close to Taiwan after Lai Ching-te kept promoting the separation of Taiwan from China. Beijing labeled this military action a disciplinary measure that made the Taiwan Strait situation more intense. Taiwan’s defense ministry revealed that 54 warplanes including J-10 fighter aircraft and drones entered Taiwan’s airspace. The aircraft passed near Taiwan’s south through northern, …

Volkswagen, long working with FAW Group, has found it necessary to introduce 11 new lines of cars in China. The steps will be taken to regain distance in the world’s largest and most competitive car market by the German automaker. Among the models slated for launch are six electric vehicles (EVs), two plug-in hybrids, and two range-extended EVs or the …