■Labor
S Korea cuts work week
South Korea's parliament approved yesterday a controversial labor bill, which will cut the official work week to five days from six and bring the country in line with most other industrialized countries. Lawmakers voted for the proposal aimed at cutting the work week to 40 hours from 44, essentially scrapping the practice of working a half day on Saturday, a National Assembly official said. The revision, which was part of an election platform of South Korean President Roh Moo-hyun, who took office in February, has faced opposition from labor groups demanding better benefits.
■ Semiconductors
Chartered sells technology
Chartered Semiconductor Manufacturing (特許), the world's No. 3 chipmaker, is selling its older technology and equipment to a Chinese firm for US$33 million in cash and shares. As part of the deal signed on Thursday, Chartered will end up with a stake of up to 11.15 percent in they buyer, CSMC Technologies Corp, based in Wuxi, northwest of Shanghai. Chia Song Hwee, president and chief executive, said the deal was part of Chartered's plan to "work with a selected partner to establish an initial manufacturing presence in China." Chartered announced earlier this year the decommissioning of its first wafer foundry and home to its oldest technology.
■ Trade disputes
WTO probes GMO battle
The WTO yesterday launched a probe into the EU's refusal to accept most genetically modified organisms (GMOs), which Washington says violates trading rules, trade officials said. The US, backed by Canada and Argentina, says that the Europeans, who have not allowed new genetically modified crops to be imported or grown in the EU's 15 member states since 1998, have shown no willingness to end the embargo. But the EU denies that it is in breach of WTO rules. The investigation, which will begin with a ruling by a panel of three trade judges, could take up to 18 months. "The panel has been set up," a trade official said. Last month, EU farm ministers approved a labeling program for biotech food and animal feed which was seen as an important step towards lifting the moratorium. Washington says that there is no scientific evidence pointing to human health or environmental problems related to biotech products and argues that the EU program is not sufficient.
■ Trade
Clark wants focus on Asia
New Zealand has been missing opportunities to expand its trade with Asia, Prime Minister Helen Clark told business leaders yesterday. Exports to Asian countries, with the exception of China, are falling and it is time to reverse the trend, she said. "The latest figures put the region's share of New Zealand's total exports at 35 percent, below a peak of 37 percent in 2001," she noted. "Put bluntly, our country has not been maximizing the potential of ... relationships" in Asia, she told the launch of the Asia 2000 Foundation's "Seriously Asia" project in Auckland. The foundation aims to foster links between New Zealand and Asian nations. "Asia in New Zealand is a reality, and so too is New Zealand in Asia," she said. "The big difference is that a small country like New Zealand needs the Asian dynamic far more than the large countries of the region need us," Clark added.
Agencies
NO HUMAN ERROR: After the incident, the Coast Guard Administration said it would obtain uncrewed aerial vehicles and vessels to boost its detection capacity Authorities would improve border control to prevent unlawful entry into Taiwan’s waters and safeguard national security, the Mainland Affairs Council (MAC) said yesterday after a Chinese man reached the nation’s coast on an inflatable boat, saying he “defected to freedom.” The man was found on a rubber boat when he was about to set foot on Taiwan at the estuary of Houkeng River (後坑溪) near Taiping Borough (太平) in New Taipei City’s Linkou District (林口), authorities said. The Coast Guard Administration’s (CGA) northern branch said it received a report at 6:30am yesterday morning from the New Taipei City Fire Department about a
IN BEIJING’S FAVOR: A China Coast Guard spokesperson said that the Chinese maritime police would continue to carry out law enforcement activities in waters it claims The Philippines withdrew its coast guard vessel from a South China Sea shoal that has recently been at the center of tensions with Beijing. BRP Teresa Magbanua “was compelled to return to port” from Sabina Shoal (Xianbin Shoal, 仙濱暗沙) due to bad weather, depleted supplies and the need to evacuate personnel requiring medical care, the Philippine Coast Guard (PCG) spokesman Jay Tarriela said yesterday in a post on X. The Philippine vessel “will be in tiptop shape to resume her mission” after it has been resupplied and repaired, Philippine Executive Secretary Lucas Bersamin, who heads the nation’s maritime council, said
REGIONAL STABILITY: Taipei thanked the Biden administration for authorizing its 16th sale of military goods and services to uphold Taiwan’s defense and safety The US Department of State has approved the sale of US$228 million of military goods and services to Taiwan, the US Department of Defense said on Monday. The state department “made a determination approving a possible Foreign Military Sale” to the Taipei Economic and Cultural Representative Office in the US for “return, repair and reshipment of spare parts and related equipment,” the defense department’s Defense Security Cooperation Agency said in a news release. Taiwan had requested the purchase of items and services which include the “return, repair and reshipment of classified and unclassified spare parts for aircraft and related equipment; US Government
More than 500 people on Saturday marched in New York in support of Taiwan’s entry to the UN, significantly more people than previous years. The march, coinciding with the ongoing 79th session of the UN General Assembly, comes close on the heels of growing international discourse regarding the meaning of UN Resolution 2758. Resolution 2758, adopted by the UN General Assembly in 1971, recognizes the People’s Republic of China (PRC) as the “only lawful representative of China.” It resulted in the Republic of China (ROC) losing its seat at the UN to the PRC. Taiwan has since been excluded from