Homepage / Asia / South Korea approves $8 million aid for the North even as Kim and Trump trade insults and threats
North Korea's economy may not survive another year, defector says Trump is toying with Iran — and another US adversary is watching $100 billion is not enough — SoftBank is in talks to raise a second giant tech fund China and emerging markets must stay 'vigilant' to possible risks, says IMF deputy managing director North Korea says 'a nuclear war may break out any moment' Copper surges on positive China data, dollar edges up ahead of Asian trade Cramer Remix: The one theme dominating this market’s hottest stocks Cramer explains why General Motors' stock is back in style on Wall Street Cramer: Trump stock Cintas is a 'terrific' play on job growth and has more room to run Cramer: The action in Apple's stock is a lesson on buying into weakness Apple explored buying a medical-clinic start-up as part of a bigger push into health care Facebook acquires anonymous polling app targeted at teens Microsoft adding Marriott CEO, former Commerce Secretary to board Months after Cisco bought AppDynamics for $3.7 billion, its founder is building a new start-up Netflix just tacked on another $1 billion to its content budget for next year Fund manager Novogratz agrees to advise ethereum-based digital coin exchange Jamie Dimon is betting big on the technology behind 'fraud' bitcoin A startup funded by iPod creator Tony Fadell is suing Andy Rubin's new company over trade secrets Buy Nvidia due to ‘strong underlying trends’ in digital currency, gaming: Analyst Netflix to report earnings after the bell Elon Musk drops Harry Potter jokes during his SpaceX chat on Reddit In defense of private equity For some Americans, it may be cheaper to Uber everywhere than to buy a car Mobile-only customers are the key to the next wave of Netflix growth Big tech and big pharma are set to clash over patent crackdowns Citigroup downgraded on credit quality concerns, 'disappointing' margins This series of new iPhones will be Apple’s most successful ever, says analyst Ives Oil prices rise toward six-month high as new Iraq conflict threatens output This robot could one day help your child learn a language Man says the Apple Watch saved his life after detecting an irregular heartbeat Apple's new campus is nearly finished and now Apple is building basketball courts US and China pouring millions into a bike race speeding across the globe Italy's new 'Rosatellum' law could see early elections that favor the mainstream parties Shake Shack's CEO might write you a $10 million check if you can prove this Supreme Court will hear US-Microsoft battle over emails Analysts expect a strong quarter from Netflix bolstered by subscriber growth Cramer: Netflix should be worth way more than its $80 billion-plus market value Bitcoin is finally buying into US real estate The charts are pointing to a big breakout for one FANG stock: Technician Op-Ed: As the world tweets, social media chiefs remain tight-lipped If you want to make a fresh financial start in 2018, here are 10 steps you can start taking now London is still Europe’s fintech hub despite Brexit, study says Here's where investors have reaped nearly 50% stock gains so far this year RBC downgrades Ford, cuts earnings estimates: 'It is still very early in the turnaround' Strategist Jim Paulsen: The economy may soon lose its power to boost stocks 'Tax alpha' is much more than simple tax-efficiency Huawei launches first smartphone with its own AI chip to challenge Apple's iPhone X North Korea's Kim Jong Un permits racetrack gambling as international sanctions take hold Apple upgraded because $1,000 iPhone will ‘extract’ more profits from consumers Stocks making the biggest moves premarket: ARMK, AAPL, ULTA, VIAB, TSLA & more Lufthansa reportedly offers $590 million for Alitalia's planes and staff Why de-dollarize? The greenback serves China's economy well T-Mobile, Sprint aim to announce merger without asset divestitures Major Wi-Fi security flaw could allow hackers to listen in on any of your devices Oil prices could see prolonged rally on Iraqi and Kurdish tensions, expert says IBM has a new blockchain for banks to speed up cross-border payments Wayfair is betting cheap delivery will push the online retailer past furniture giants Here's how the White House wants the GOP to talk about tax reform Millennial in Austria set to become the world’s youngest leader Wikileaks made a 50,000% return on bitcoin thanks to the US government, Julian Assange claims China's Huawei could overtake Apple this year in smartphones, top analyst says US vs. Japan: Giant robots are about to face off, fighting for their country Catalonia still won't say whether it's declaring independence, but wants to meet with Spanish leader S.Korea police seek arrest warrant for Hanjin Group chief China stands at 'a new historic starting point,' Communist Party says European shares seen higher as political news takes center stage Tell us what you think: Where does Bitcoin go from here? Amazon isn't playing in 'our sandbox,' says Lululemon CEO Australia's household debt is rising — but its treasurer says the situation is under control Iraqi troops advance on oil-rich Kurdish area that declared independence, raising fears of fighting The IMF has a message for emerging markets: Take advantage of easy money while you can China's September Consumer Price Index rose 1.6%, meeting expectations Social Capital's Chamath Palihapitiya explains the beauty of a calculated risk Asia markets to focus on firmer Wall Street, China inflation data ahead This doorbell lets you see who's at your front door, even when you're not home Hillary Clinton warns Britain on potential trade deal with Trump Here's why the public isn't buying into an anti-tech campaign based on false premises Germany's Social Democrats beat Merkel's conservatives in state vote Initial results show Austria tilting right in national vote How Avis rental cars formed an unlikely friendship with Alphabet Yellen sounds upbeat on economy, signaling likely rate hike The 2017 Lexus GS200t is the best value in the luxury sedan segment Britain, Germany committed to Iran nuclear deal after US plans to scrap the agreement 'Weaponized' platforms make stricter regulation of tech giants likely, Greyfire Advisory CEO says China is getting rid of free haircuts and fruit at the upcoming party Congress in austerity drive Draghi: Commercial real estate valuations stretched, but no bubbles in stocks or bonds How to stop your iPhone from driving you bonkers with notifications 'Alexa, order my meds' — start-up NowRx pioneers prescription orders through Alexa and Google Home Euro zone wages are rising more slowly than the ECB had hoped, Draghi says China will amend the party constitution which could tighten President Xi Jinping's grip on power Russian cargo ship launched to International Space Station Tesla fires hundreds of employees while trying to ramp up vehicle production, says report Cramer Remix: The FANG that won’t bite back Cramer: If you want to own tech and sleep at night, buy Texas Instruments HP Inc. CEO: We got into 3-D printing to get ahead of the inevitable manufacturing disruption Cramer's game plan: A pivotal earnings week These charts show how quickly bitcoin is growing Top tech investor: Cryptocurrency is going to make money transmission free Exclusive PRO Talks: Tech investor Cathie Wood says bitcoin is already changing how we live EU finance chief says name calling not helpful after 'enemy' jibe from UK

Asia

South Korea approves $8 million aid for the North even as Kim and Trump trade insults and threats

South Korea on Thursday approved $8 million worth of humanitarian aid for Pyongyang in a move likely to muddle international efforts aimed at isolating the nuclear-armed state.

The package will include $4.5 million in nutritional products for children and pregnant women through the World Food Program in addition to $3.5 million worth of vaccines and medicinal treatments via UNICEF. The timing of the delivery has yet to be confirmed.

The news indicates South Korean President Moon Jae-In isn’t backing down from direct engagement with North Korean leader Kim Jong Un even as other major players in the long-simmering crisis push for a tougher approach.

President Donald Trump announced fresh sanctions against the rogue state on Thursday amid a swap of insults between the two leaders — Kim referred to the Republican’s U.N. speech as “the most ferocious declaration of a war in history.”

Even China, which has long been reluctant to pressure the North, upped its stance on Thursday by ordering domestic banks to halt business dealings with the pariah nation, according to a Reuters report.

Forging ahead with a softer stance on Kim despite the North’s recent nuclear and ballistic missile tests “has put South Korea at odds with its U.S. and Japanese counterparts,” political consultancy Stratfor said in a recent note.

Earlier this month, Trump claimed on Twitter that Moon was “appeasing” Pyongyang, while Japanese Prime Minister Shinzo Abe urged Moon to reconsider his strategy during a telephone call last week. Japanese chief cabinet secretary Yoshihide Suga has also warned against any actions that would undermine pressure on the North.

Moon’s conciliatory stance will certainly complicate efforts by the U.S. and Japan to isolate Kim, warned Stephen Nagy, associate professor at Tokyo- based International Christian University.

To South Korea’s defense, its latest aid disbursement was relatively small compared with earlier packages.

Seoul has provided an average of $11.79 million in assistance per year to North Korea for the past two decades with the exceptions of 1999, 2000 and 2016, Stratfor pointed out, adding that “Seoul has also said it will link timing of the aid with North Korean behavior — a difference from its earlier no-strings-attached stance.”

The last time South Korea sent relief to its northern neighbor was December 2015.

Still, it remains to be seen whether resources will reach needy North Korean citizens instead of being diverted to the nation’s elite or military — a key issue for international agencies.

The offer of humanitarian assistance could ultimately be necessary for South Korea’s long-term survival.

Seoul will bear the brunt of any North Korea retaliation so it can’t apply too much pressure on Kim, Nagy said on Friday.

“The idea is to educate North Koreans that they are getting aid from outside and show them that there’s a care aspect to engagement,” he said.

While South Korea, the U.S. and Japan remain united on the main issues concerning the North, Seoul maintains a different perspective due to its potential front-line status in any conflict, echoed Troy Stangarone, senior director at the Korea Economic Institute.

“Part of finding a diplomatic solution to the problem involves retaining options that allow North Korea to see a better future and not closing all possible doors, even if the current environment is not conducive to humanitarian efforts,” he said.

Source: cnbc china
South Korea approves million aid for the North even as Kim and Trump trade insults and threats

Comments are closed.