■ Shipping
FedEx boosts Asia presence
FedEx Corp, the world's largest cargo airline, is boosting its Asian presence through an agreement for possible cooperation with Guangzhou Airport Authority in southern China. The carrier said yesterday it has signed a framework agreement with the Chinese authority "outlining certain principles of cooperation" but is negotiating the details. The company gave no specifics. FedEx, which currently serves more than 200 Chinese cities, also said it is exploring further Asian expansion, with potential locations including the Guangzhou airport and the Diosdado Macapagal International Airport in the Philippines. Separately, it denied media reports that it might switch its Asia-Pacific hub to Guangzhou from its base in Subic Bay in the Philippines. "FedEx has no immediate plans to relocate its Asia-Pacific hub from Subic Bay," the carrier said.
■ Trade
Japan ups US tariffs
Japan will raise tariffs on US imports after the US missed a WTO deadline to repeal a law that allows millions of dollars in tariff revenue to go to companies, a trade ministry official said. Japan on Monday will notify the WTO of its intention to raise tariffs, said an official at the Ministry of Trade, Economy and Industry in Tokyo who asked not to be named. The WTO will review the plan, deciding how much in tariffs can be imposed and on what products, which could take several months, he said. METI Vice Minister Seiji Murata, speaking at a regular press conference in Tokyo, said that Japan wants to make a decision early next week regarding notification to the WTO.
■ Fermented Goods
Kimchi boosted by SARS
Exports of South Korean kimchi, the famously fiery and odorous fermented vegetable dish, soared to record levels last year amid beliefs it wards off SARS. Kimchi exports climbed almost 7 percent to US$84.64 million during the first 11 months of last year, exceeding the previous export record of US$79.3 million for all of 2002, the Agriculture and Forestry Ministry said yesterday. Japan, the US and Taiwan are the main overseas markets. But exports to China, the epicenter of last year's SARS outbreak, jumped almost fivefold from US$40,000 to US$180,000. "The rise can be attributed to rumors that kimchi helps prevent SARS, and efforts to develop new markets," said Kim Myong-soo, a ministry official. There is no scientific proof that kimchi prevents SARS. But some people believe it has strong anti-bacterial qualities that boost the immune system and prevent illnesses. Not one SARS case has been found in South Korea.
■ Management
Nakamura gets recognition
Kunio Nakamura, president of Matsushita Electric Industrial Co, was named the 2003 Businessman of the Year in Asia by Forbes Global magazine in its Jan. 12 issue. Nakamura, 64, spent most of his career with the world's biggest maker of consumer electronics in marketing before becoming president in 2000. One of his first orders was to equip each of the company's top 400 executives with an Internet-compatible mobile phone, according to the report. Nakamura merged several of Matsushita's brands, including Quasar, Technics and National, into the single Panasonic label and tripled the company's advertising budget to US$270 million, Forbes said. The company dominates the market for DVD recorders with a share of more than 50 percent, it said.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s biggest contract chipmaker, yesterday held an equipment installation ceremony for its first 2-nanometer fab in Kaohsiung, six months ahead of schedule, Kaohsiung Mayor Chen Chi-mai (陳其邁) said. “To cope with the strong global demand for advanced chips, TSMC is to start moving in equipment for its first-ever 2-nanometer fab half a year earlier than scheduled,” Chen said at an question-and-answer session at the Kaohsiung City Council. TSMC’s 2-nanometer process technology would help accelerate the development of artificial intelligence (AI) applications as well as the transformation of local industries in Kaohsiung, Chen said in a
TEAM TAIWAN: While lawmakers proposed declaring Nov. 24 a national day, the CPBL commissioner urged the legislature to pass the budget for sports development Lawmakers yesterday proposed designating Nov. 24 as National Baseball Day and updating the design of the NT$500 bill to honor the national team’s victory in the World Baseball Softball Confederation’s Premier12 championship on Sunday, as thousands of fans came out to see the players parade down the streets of Taipei. Players, coaches and staff from the national team returned home on Monday night after achieving their best-ever performance in an international baseball tournament. After receiving a rapturous welcome at the airport, the players turned out yesterday for a street parade in front of thousands of adoring fans waving Taiwanese flags and
Taiwan moved clear of Mexico to be the only country at No. 2 in the World Baseball Softball Confederation (WBSC) Men’s Baseball World Rankings. Meanwhile, draft bills to set up a ministry of sports were approved at a joint session at the legislature in Taipei yesterday. After previously being tied with Mexico for second on 4,118 points, Taiwan moved clear on 5,498 points after they defeated Japan in the final of the WBSC Premier12 tournament on Sunday. Mexico (4,729) dropped to fourth, behind Venezuela (4,846), who finished fourth at the tournament. Taiwan narrowed the gap to first-placed Japan to 1,368 points from 1,638, WBSC
GLOBAL SUPPORT: The Ministry of Foreign Affairs said that the motion highlighted the improper exclusion of Taiwan from international discussion and cooperative mechanisms Taiwan yesterday thanked the British parliament for passing a motion stating that UN Resolution 2758 does not involve Taiwan, making it the latest body to reject China’s interpretation of the resolution. The House of Commons on Thursday debated the international status of Taiwan and unanimously passed a pro-Taiwan motion stating that the House “notes that UN Resolution 2758 does not address the political status of Taiwan or establish PRC [People’s Republic of China] sovereignty over Taiwan and is silent both on the status of Taiwan in the UN and on Taiwanese participation in UN agencies.” British Foreign, Commonwealth and Development Office Parliamentary
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