ON Semiconductor mulls $2 bln investment in electric vehicle chip production
Reuters
23-05-16 20:52
ON Semiconductor has revealed it might invest $2bn in increasing the production of silicon carbide chips, vital components in electric vehicles (EVs), with the possibility of investments in the Czech Republic, Korea or the US. While the firm already produces and supplies chips for EVs, these chips reportedly extend the range of electric vehicles. ON Semiconductor aims to capture 40% of the silicon carbide market by 2027. Furthermore, it aims to expand revenues at a 10% to 12% forecasted annual growth rate, expanding sales from $8.3bn in 2022 to an estimate with a $13.9bn midpoint by 2027.
In 2019, researchers at ETH Zurich developed a power converter that can handle the compact and efficient silicon carbide chips by developing a converter that uses the chips along a copper base-plate into which cooling channels have been etched, which they also claim eliminates the need for fans and bulky cooling systems. Silicon carbide chips currently control power in EVs, converting energy from the motor to the battery and, conversely, coping with the peaks during energy recuperation.
Entegris, an advanced materials firm that became involved in the design and manufacture of microelectronic components, is also expected to construct a facility that can customise substrates on which to mount silicon carbide chips for EV power electronics. The company aims to open by the end of the year and provide in-house customisation of silicon carbide wafers to customer specifications.
Taiwan has highlighted the support of Japan, South Korea and the Philippines in forming a "crescent of defense" alongside the US against China's growing presence in the Indo-Pacific region, according to You Si-kun, the speaker of Taiwan's parliament. The countries' opposition leaders have described Taiwan as a key global issue and an important buffer in the region. Philippine President Ferdinand Marcos Jr commented that granting the US access to Philippine military bases was a defensive measure that would be useful if China were to attack Taiwan. The speaker believes that with these countries and the US offering support, a key stabilizer of peace and security in the Indo-Pacific region will be created.
China has been putting increasing pressure on Taiwan to try and force the democratically governed island to submit to Beijing’s sovereignty, with military activities notably on the rise. The speaker of parliament highlighted China’s CCP’s aim for global dominance, with Taiwan seen as simply a stepping stone. It is clear to Taiwanese politicians that being able to rely on external support for the country is critical; However, the article notes that the speaker, a member of Taiwan’s ruling Democratic Progressive Party, doesn’t speak for President Tsai Ing-wen.
This commentary comes as the UK’s first warship (HMS Queen Elizabeth) sails through the contested South China Sea, following a UK official’s recent statement that British naval vessels would be seen more frequently in this region, prompting criticism from China, which claims most of the sea. The UK has declared that its presence is showing its support for international law and freedom of navigation and it will sail its warships where it sees fit, regardless of any objection from China.
North Korea shows Kim Jong Un examining a military spy satellite that may be launched soon
The Toronto Star
23-05-17 02:05
North Korean leader Kim Jong Un has visited the country's aerospace agency to support plans for the forthcoming military spy satellite launch. There has been no indication of the launch time, however, analysts suggest it may happen within weeks. It would use long-range missile technology that has been prohibited by past United Nations Security Council laws. Although previous missile and rocket tests have revealed the country's ability to deliver a satellite into space, there is doubt as to whether the satellite in question will be adequate for fulfilling reconnaissance requirements. South Korean analysts suggest the satellite produced by the state appears too small and poorly manufactured to support high-resolution images. Nevertheless, acquiring a spy satellite would be important for Kim's efforts to reinforce the country's defence as "US imperialists and (South) Korean puppet villains escalate their confrontational moves" against North Korea; its enemies are now boosting their nuclear deterrence strategies to deal with the threat from North Korea.
Chinese companies are targeting South Korean talent as Beijing seeks to build up its technical abilities in key areas such as electric cars, semiconductors and exports including shipbuilding. The moves have reportedly intensified since Washington began restricting Chinese access to American technology and expertise. Strategies by Chinese firms have included both legal and illegal means of attracting skilled professionals including “tech leakage” and patent violations. Korea is creating a database of chip engineers at the country’s companies to monitor their travel in and out of the country, and has passed legislation to toughen punishments for leaks.
A US nuclear-powered ballistic missile submarine is expected to make a port call in South Korea for the first time since 1981. The visit was agreed upon by US President Joe Biden and South Korean President Yoon Suk Yeol as part of the Washington Declaration to enhance the "regular visibility" of strategic assets in the Korean peninsula.
Russian missile strikes on May 16 may have damaged the US-made Patriot missile defence system, which is currently used by Ukraine, according to two anonymous US officials. Though the system has not been destroyed, the two countries are reportedly discussing the best way to repair it without having to remove it from Ukraine. The alleged damage follows a warning from Vladimir Putin to target and destroy anti-missile defence systems supplied by the West to Ukraine. The Patriot system is designed to counter a range of threats, from ballistic missiles and cruise missiles to aircraft.
Russia has been ramping up the number of missiles it fires in order to confuse and overwhelm Ukraine’s air defences. However, according to one US official, this may have worked to Ukraine’s advantage as it forced Russia to go through more of its limited supply of precision weaponry that can home in on targets. Meanwhile, Ukraine’s President Volodymyr Zelensky spoke at a summit of the Council of Europe, where he said that recent battlefield successes showed that Ukraine could achieve anything as long as it was united. These included shooting down 18 Russian missiles overnight, including a volley of six Kinzhals, which Russia claims have hypersonic capabilities.
North Korean leader Kim Jong Un has visited a military satellite facility and approved an unspecified "future action plan" aimed at launching the country's first military intelligence satellite, according to the country's state-run Korean Central News Agency. The launch would have to use long-range missile technology, which is banned by UN Security Council resolutions. The visit was Kim's first public appearance in a month. Some analysts predict the launch could happen in the coming weeks. Japan's military has ordered troops to get ready to shoot down satellite fragments that may fall on its territory.
Global public finances are being hit by an ageing population with ratings agencies warning that higher pension and health care costs are rising along with recent interest rate hikes. Moody’s, S&P and Fitch have all warned that ongoing issues with demographics are already impacting government credit ratings with little hope for change unless there are sweeping reforms. These downgrades could lead to a vicious circle of increased fiscal burdens and a rise in borrowing costs.
South Korea is facing economic and social problems, with a widening gap between rich and poor and persistent poverty among the elderly and the youth. The country's population is ageing at an alarming rate, with the lowest fertility rate in the world. The economy is sputtering and, before the pandemic, was already struggling, with the contribution of exports and investment to overall output increasingly weaker. The decline is partly down to the slowing pace of capital accumulation and plummeting growth in total factor productivity which continues to remain low in comparison to other OECD nations, Asian-tiger economies and the US. The country's labour market and its institutions are also said to be creating bottlenecks, obstructing entrepreneurship and innovation.
Analysts suggest that South Korea’s stagnant service sector holds potential, despite being beset by various issues including excessive regulations and the anticompetitive behaviour of large companies. An overhaul of the regulatory framework has been suggested, alongside efforts to retrain and reskill workers, relax rigid employment structures to allow entrepreneurs and innovators to pursue ventures and ideas without constraints, and to strengthen the social safety net. The country’s structural issues, along with its looming demographic challenges, need to be addressed if South Korea is to sustain growth near or even above three percent in the long term.
The proposed acquisition of Asiana by Korean Air may restrict competition in air transport services between Europe and South Korea, according to the European Commission. The commission confirmed it had sent a statement of objections complaining that the deal may reduce competition in passenger transport services on four routes between South Korea and France, Germany, Italy and Spain, and in cargo transport services between all of Europe and South Korea. Korean Air said it would continue to talk to the commission.
Will North Korea’s Foreign Minister Visit Mongolia This Year?
Diplomat
23-05-17 13:33
Mongolia is seeking to strengthen its relationship with North Korea, with the two countries set to mark their diplomatic relations’ 75th anniversary in 2023. Despite the pandemic disrupting people’s exchanges and economic and trade relations, Mongolia and North Korea have maintained their friendly relationship, periodically exchanging greetings and having their officials mentioned in Korean Central News Agency articles. Mongolia has had a long-standing relationship with North Korea, being the second country to recognize Pyongyang in 1948 and offering to host a summit between then-US President Donald Trump and North Korean leader Kim Jong Un in 2018-2019 that ultimately failed to transpire. Mongolia is notable as the only democracy in the region that has maintained close ties with North Korea, and it could help North Korea as a source of communication channels. Mongolia also plans to organise a meeting of around 40 female foreign ministers in Ulaanbaatar between June 29 and 30, with North Korean Foreign Minister Choe Son Hui invited to attend.
South Korean, Canadian Leaders Vow Cooperation on Clean Energy, North Korea Threat
Diplomat
23-05-17 13:00
South Korea and Canada have agreed to reinforce their trade ties with critical minerals amid global supply-chain weaknesses that have been exacerbated by geopolitical and climate concerns. Canadian Prime Minister Justin Trudeau completed a two-day visit to the country, meeting with South Korean President Yoon Suk-yeol before travelling to Japan for the G7 meeting last weekend. The leaders pledged stronger economic and security collaboration, focusing on the rising nuclear weapons and ballistic missile programmes of North Korea. South Korea needs to grow its supply of materials such as nickel, lithium and cobalt, used for producing vehicle batteries and renewable-energy technologies. The country is also expected to increase cooperation with Canada on semiconductors, batteries, artificial intelligence and cleaner-energy technologies, while at the same time strengthening measures to monitor UN Security Council sanctions against North Korea.
A South Korean court has ordered the country's largest adoption agency to pay £60,000 ($82,000) in damages to a man who was adopted as a young boy to the US, suffering abuse through his childhood, reported The Telegraph. Adam Crapser, now 48, was adopted along with his sister in the 1970s during a period described as "child export" from South Korea. Raised by two sets of abusive parents, he was deported in adulthood after being unable to gain US citizenship. The ruling may embolden other South Korean adoptees to file lawsuits over corruption allegations in historical international adoption cases.
South Korea-US Alliance Is at a Critical Juncture for Cybersecurity Cooperation
Diplomat
23-05-17 12:30
US President Joe Biden and South Korean President Yoon Suk-yeol have committed to expanding the Mutual Defense Treaty into cyberspace. The move includes the establishment of a bilateral Strategic Cybersecurity Cooperation Framework to underwrite cyber collaboration. The initiative could be held back by bureaucratic challenges arising from inconsistencies between how the US and South Korea organise law enforcement to handle cybersecurity incidents, especially those linked to North Korea's cyber-attacks. The new framework proposes objectives around deterring cyber-attacks, protecting critical infrastructure and combating cyber crime, among others. The two allies have also identified an organisational structure for coordination at various levels. Intelligence agencies in the US and South Korea could facilitate information sharing by addressing differences in their communication methods. South Korea has already proposed participating in US-led multinational cyber exercises.
World leaders are gathering in Hiroshima for the Group of Seven nations summit, which Japan is hosting with the goal of advancing Prime Minister Fumio Kishida’s dream of “a world without nuclear weapons”. The G7 comes at a time when the world’s largest nuclear powers are increasingly clashing over issues such as the war in Ukraine, the threat of proliferation, and climate change. The memorial forms a stark reminder of the growing threat under President Biden’s watch, and is putting pressure on him to stand up to nuclear-armed adversaries and advance the cause of disarmament.
A debate still rages among historians about whether dropping the bombs was a necessary act by the United States to end the war and prevent more deaths, or an unjustified atrocity calling for apology and regret. In Hiroshima, however, many are simply focused on the need to prevent a recurrence. Joe Biden’s visit to Hiroshima will include meeting survivors of the atomic bomb and visiting the memorial that commemorates an estimated 140,000 people who died during the bombing and its aftermath.
Hosting the G-7 takes on increased significance for Japan as it has been buffeted by many of the proliferating nuclear developments and is the only country ever targeted by a nuclear weapon. Japanese officials hope the moment will resonate especially with Biden, who, to a degree unusual for politicians, is given to public expressions of empathy in the face of loss. Hidehiko Yuzaki, the governor of Hiroshima, said in an interview that visiting the city is important because nuclear deterrence is very theoretical and is often seen as something that just exists in people’s heads.
The Group of Seven meeting, set to begin on Friday, will see Japanese Prime Minister Fumio Kishida appeal to the seven wealthiest democracies to scrap nuclear arms and work towards “a world without nuclear arms”. The strength of his case will be challenged by the security situation in the region, with Japan’s neighbours, North Korea, China and Russia being the possessors of about half of the world's nuclear warheads. The US has recently brought more assets close to Japan and South Korea in a bid to increase deterrence to counter the rising nuclear threats around the world; G-7 statements have highlighted other concerns over non-proliferation, including the rising atomic ambitions of Iran. Critics argue that the US is pulling the group towards an increase in nuclear weapons capability when Kishida is appealing for disarmament. Leaders are therefore expected to try for a balance between disarmament and countering nuclear threats.
Korean-American DJ Yaeji has released her debut album, "With a Hammer". The album was influenced by anime shows such as Sailor Moon, which Yaeji watched as a child. Yaeji uses the visual metaphor of an anthropomorphic hammer as a way of articulating anger that she experienced for the first time during lockdown. She describes this emotion as "han", which in Korean is a fusion of anger, resentment and sorrow. Yaeji was bullied throughout her childhood due to being an outsider, making her suppress her anger and feel alienated. "With a Hammer" provides her with a powerful voice and gives visibility to her traumas as the album unpacks a lifetime of suppressed rage. The album relies on visual cues from artist Seong Ryul to help shape its vision and sound, forming an eclectic mix of genres. Yaeji has used both Korean and English lyrics in her album, which has extended the artist's musical toolkit.
Stellantis, parent company of Chrysler, Jeep, and Fiat, has halted construction on its EV battery factory in Windsor, Ontario, citing its demands to match the US's manufacturing incentives under the Inflation Reduction Act. The province and federal government each contributed CAD $500m ($399m) for the facility, demanding that Stellantis and LG Energy Solution match subsidies to keep the project competitive in Canada. The Windsor facility will employ 2,500 workers once it reaches its full capacity. The Inflation Reduction Act was introduced six months after the initial March 2022 deal between the government and Stellantis, in which the federal government is contributing CAD $700m to VW's EV battery factory. However, negotiations became difficult as Stellantis demanded that the government live up to its promise to honour the agreement that was made three weeks prior to construction.
Cathay Pacific Airways is giving away 500,000 free airline tickets to Hong Kong, open to those in Australia, Canada, Europe, Korea, the US, UK China and New Zealand. The tickets will be given through a campaign called "Hello Hong Kong". Vouchers for bars, restaurants and other tourist attractions in the city will also be given upon winning the tickets. The tickets come with certain conditions, such as taxes, fees and surcharges all being payable. However, the company said that the promotion aims to encourage more people to visit Hong Kong.
Joe Biden and Japanese Prime Minister Fumio Kishida will meet privately to discuss a range of issues, including strengthening cooperation between their countries, at the G7 summit cycle, a gathering of major industrialised nations, with Kishida keen to discuss deterrence and response capability for China’s Indo-Pacific assertiveness. With China claiming Taiwan should be under its rule, discussing efforts to respond to nuclear threats from North Korea may pose a diplomatically difficult path of discussion for the Japanese prime minister, who comes from Hiroshima, where the US dropped the first nuclear bomb in 1945.
