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Time Out
a day ago
- Business
- Time Out
Drink o'clock just got longer in Thailand
While the news about cannabis being reclassified as a 'controlled herb' might have some people feeling bummed, there's still something to raise a glass to as Thailand has finally eased restrictions on alcohol sales hours, starting today (June 27). Back in March, the House of Representatives voted to relax the rules on when alcoholic products can be sold. Now, it's official: the Royal Gazette published the announcement from the Prime Minister's Office, signed by Prime Minister Paetongtarn Shinawatra, confirming the change. This update replaces the old 2015 rules with something a bit more in tune with today's lifestyle. It was made under the Alcoholic Beverage Control Act 2008 and follows the advice of the National Alcoholic Beverage Policy Committee. But this doesn't mean these drinks can be sold around the clock. The original time restrictions – 11am to 2pm and 5pm to midnight – still apply nationwide. What's changed is that three types of venues are now allowed to sell them outside of those hours: So, while we may not be raising glasses 24/7 just yet, it's a step closer to more relaxed and practical rules for buying a drink in Thailand.
Japan Forward
a day ago
- Politics
- Japan Forward
Japan and South Korea: Will History Repeat or Reform?
Japan and South Korea marked the 60th anniversary of diplomatic normalization on June 22. Over the past six decades, their bilateral relations have swung between episodes of reconciliation and turmoil. Now, with a new progressive government in Seoul, fresh uncertainty looms. President Lee Jae-myung, who took office on June 4, comes with no prior foreign policy experience and carries a record of harsh rhetoric toward Tokyo. Lew Seok-choon, a sociologist and retired professor of Yonsei University, says a lasting friendship requires an honest reckoning with shared history and steady civilian engagement. In an interview with JAPAN Forward, Lew reflected on six decades of diplomatic turbulence, shifting regional dynamics, and South Korea's path forward under its new leadership. Following years of arduous negotiations, South Korea and Japan normalized their relations on June 22, 1965. Their leaders at the time were President Park Chung-hee and Prime Minister Eisaku Sato. Despite facing public opposition at home, Park's government maintained relatively stable bilateral ties with Tokyo throughout his presidency, relying on shared cultural affinities and economic cooperation. PM Shigeru Ishiba delivers remarks at a Japan–South Korea diplomatic normalization event in Tokyo, June 19. (Prime Minister's Office) In the 1980s, during President Chun Doo-hwan's administration, this trend appeared to persist. However, Japan's first major textbook controversy in 1982 prompted Seoul to more actively leverage historical issues as diplomatic tools. By the early 1990s, the comfort women issue had emerged as another significant source of tension between the two countries. Beyond that point, historical grievances have consistently been brandished as a diplomatic card to varying degrees. This reached its peak under the Moon Jae In administration, when bilateral relations hit a nadir. Relations then recovered markedly under Moon's successor, Yoon Suk-yeol. Yet with a staunchly leftist government returning to power, the future of Tokyo-Seoul relations remains on shaky grounds. South Korean President Moon Jae-In is welcomed by Japanese Prime Minister Shinzo Abe upon his arrival for a welcome and family photo session at the G20 leaders summit in Osaka, Japan, June 28, 2019. REUTERS/Kim Kyung-Hoon/Pool Many in Japan are aware that Lee has historically taken an openly combative stance toward Tokyo. During his recent presidential campaign, however, he softened his tone, advocating for a more robust ties. This shift was evident during Lee's first meeting with Japan's Prime Minister Shigeru Ishiba on the sidelines of the G7 summit in June. Prime Minister Shigeru Ishiba and South Korean President Lee Jae-myung meet on the sidelines of the G7 Summit in Canada. (©Prime Minister's Office) I don't see Lee as being as ideologically rigid as Moon. Many describe him as a pragmatist — someone willing to do whatever it takes to ensure political survival. I largely agree with this view. In that sense, as long as South Korea's interests and his own political position aren't threatened, he has little reason to damage relations with Japan. To that end, there is a genuine possibility that Lee and Ishiba could find common ground. The main challenge for Lee lies in his core base, which remains stubbornly left-wing and deeply skeptical of Japan. Lee, of course, has been openly critical of his predecessor's conciliatory approach toward Tokyo. If the new president were to inherit and continue those policies, widespread unrest among liberal constituents could ensue, with major consequences for Lee. Lee could pivot to a more anti-Japan stance if his approval ratings drop or if he faces domestic policy setbacks. But one crucial factor to consider is the "Trump element." Donald Trump's second term signals a much tougher approach toward China. Lee, then head of the Democratic Party, meets with Chinese Ambassador Xing Haiming in June 2023. The meeting drew criticism over what some viewed as Lee's excessive deference to Beijing. (©National Assembly Press Team) Given Lee's known pro-Beijing leanings, any move to sideline Japan and the United States in favor of closer ties with China would likely taint relations with Washington. In light of recent American strikes on Iranian nuclear sites, we now have a clearer sense of what an America First foreign policy entails. Moving forward, South Korea will need to navigate its diplomatic and security policies with great care and vigilance. Roh, of course, was a distinctly left-leaning South Korean president who served from 2003 to 2008. While his foreign policies had considerable flaws, he managed to push through several measures that faced strong opposition from his supporters. President George W. Bush welcomes President Roh Moo-hyun of South Korea to the Oval Office on Thursday, Sept. 14, 2006. (©White House) In 2007, for instance, he successfully signed a free trade agreement with the US, despite facing serious pushback from his core supporters. A good portion of them worked in the agricultural sector, which was expected to face fierce competition from cheaper American imports. Another example is Roh's decision to deploy South Korean troops to the Iraq War. While he was generally viewed as lukewarm toward Washington, Roh recognized the strategic importance of the traditional alliance. Whether Lee can demonstrate the same level of resolve remains to be seen. Personally, I don't think the current president has the same degree of conviction or charisma to pull it off. A law amended under the Moon administration criminalizes the spread of false information on the 1980 Gwangju Uprising. One scholar has already been jailed over his research. Similar attempts to penalize challenges to mainstream colonial-era narratives were introduced but ultimately failed. Lew Seok-choon and Tsutomu Nishioka discuss Japan-South Korea relations at a HARC forum in Tokyo, June 21. (©Kenji Yoshida) Under Lee, we may see renewed efforts by the left-wing dominated legislature to revive such measures. By regulating speech at home, Lee could aim to suppress pro-Japan views domestically without directly provoking Tokyo. There has been a noticeable shift in South Korean public sentiment toward Japan. A recent report by the Asan Institute for Policy Studies highlights that young people in their 20s have maintained a consistently favorable view of Japan since the Moon Jae In era. Even more significant is the gradual uptick in positive sentiment among individuals in their 60s, a generation that has traditionally been more anti-Japanese. This year, a record number of South Koreans visited Japan, and vice versa. What truly matters are these people-to-people exchanges, not politics. Governments change, and even the best policies don't always stick. For an enduring partnership, both sides, especially South Korea, must honestly confront their past and build a shared understanding rooted in mutual respect. Author: Kenji Yoshida
Japan Forward
2 days ago
- Politics
- Japan Forward
Is South Korea Ready to Move Forward with Japan?
June 22 marked the 60th anniversary of the establishment of diplomatic relations between Japan and the Republic of Korea (South Korea). Days before, Prime Minister Shigeru Ishiba and newly inaugurated South Korean President Lee Jae-myung held their first face-to-face meeting in Canada. There, the two leaders agreed to work together toward building a future-oriented Japan-Korea relationship. Japan's cooperation helped to make South Korea's economic growth possible. Meanwhile, South Korea became an advanced democratic nation through its own efforts. However, South Korea has often berated Japan regarding historical issues, and relations between the two neighbors have frequently cooled. Friendly relations between Japan and South Korea are essential for peace and stability in the region. Furthermore, both nations uphold freedom and democracy and are allied with the United States. We urge President Lee to keep that point firmly in mind. Prime Minister Shigeru Ishiba and South Korean President Lee Jae-myung meet each other in person on the sidelines of the G7 Summit in Kananaskis, Canada. (©Prime Minister's Office) First, firmly reorienting our two nations towards the future cannot be achieved through words alone. We therefore hope that appropriate actions and policies will be sustained. After all, former President Lee Myung-bak (2008-2013) advocated a future-oriented Japan-Korea relationship when he took office. However, later, when his approval rating dropped, he illegally landed on Takeshima Island (part of Okinoshima Town, Shimane Prefecture). He also committed the rude act of demanding an apology from the reigning Emperor Akihito over historical issues. Then the Park Geun-hye administration concluded an agreement with Japan concerning the comfort women issue. It even declared the issue to be "finally and irreversibly resolved." Nevertheless, the Moon Jae In administration that followed subsequently discarded the agreement. Furthermore, before becoming a presidential candidate, Lee Jae-myung himself called Japan an "enemy nation." He has managed to put aside his anti-Japanese stance since the presidential election. But will he really stick to this new position? In addition, while advocating unity among Japan, the United States, and South Korea, Lee Jae-myung also advocates "pragmatic diplomacy" that emphasizes relations with China and North Korea. He would do well to remember the lesson from Aesop's fable about the self-serving bat, namely, "He that is neither one thing nor the other has no friends." South Korean, US, and Japanese patrol vessels (top to bottom) sail in formation during their first joint training exercise off the coast of Maizuru, Kyoto, June 2024. (© Japan Coast Guard) Previous South Korean presidents have attempted to balance their relations with the US and China, but they have never achieved success. Moreover, autocratic nations such as China, North Korea, and Russia have been adopting increasingly hardline stances. And Lee Jae-myung himself has said, "Whatever happens in the Taiwan Strait is none of our business." If South Korea decides to take an opportunistic stance in the event of a Taiwan crisis, both Japan-South Korea relations and the US-South Korea alliance will be doomed. Instead, we would definitely like to see Seoul cooperate with Japan and the US and play a role in deterring China. In the event of a Korean Peninsula emergency, cooperation from Japan and the US would be indispensable for South Korea's security. Prime Minister Ishiba should explain this basic truth to President Lee. "Historical issues" that South Korea has raised in the past, such as comfort women and wartime labor, have involved claims that distort historical facts. If such manufactured controversies are brought up again and precipitate conflict with Japan, it will only delight North Korea and China. Claims against Japan have long been resolved. This is evidenced by the Treaty on Basic Relations and the Settlement of Claims between Japan and the Republic of Korea, which were signed 60 years ago. (Read the editorial in Japanese .) Author: Editorial Board, The Sankei Shimbun
Time of India
2 days ago
- Business
- Time of India
Changes to IBC Finalised After PMO Approval
The corporate affairs ministry has finalised amendments to the Insolvency and Bankruptcy Code (IBC), following approval by the Prime Minister's Office (PMO), people with knowledge of the matter said. This comes after months of deliberations and is aimed at expediting the resolution of bankrupt firms and bolstering recoveries by creditors. The proposed amendments include a framework for each of the three types of bankruptcy resolutions under the IBC—creditor-led resolution, cross-border insolvency and corporate group bankruptcy. These changes are the latest by the Centre since 2021 as it seeks to strengthen the code, said the people cited. Between its launch in May 2016 and 2021, the IBC had been amended six times to respond to emerging challenges in resolving bankrupt firms. The government had since then refrained from further tinkering to allow the bankruptcy ecosystem to take root. In a meeting on June 6 chaired by Shaktikanta Das, principal secretary to Prime Minister Narendra Modi, the changes were discussed in detail, one of the people told ET. Accordingly, the ministry will move a cabinet note shortly following approval by finance and corporate affairs minister Nirmala Sitharaman, aiming to introduce the amendments in the upcoming monsoon session of parliament starting July 21, they said. Das is former governor of the Reserve Bank of India. However, the amendments are unlikely to include any provision aimed at avoiding a repeat of the situation that arose after the Supreme Court, in May, scrapped JSW Steel's ₹19,700 crore acquisition of Bhushan Power and Steel four years ago, flagging violations of rules or processes. This is because the apex court had upheld the integrity and intent of the IBC and underscored the need to abide by prescribed legal processes on the part of all stakeholders, said the people cited. However, regulations could be changed to ensure IBC processes are followed in letter and spirit during acquisitions, they said. Changes in regulations won't require parliamentary approval. Creditor-led resolution: The creditor-led resolution framework will largely involve out-of-court arrangements. This will lower the workload of the National Company Law Tribunal (NCLT) by enabling the committee of creditors to take on greater responsibility and expedite stressed asset resolution , ET has reported. Cross-border insolvency: In a change of the earlier plan, the government now intends to introduce the cross-border insolvency framework under the IBC, the people said. This will be tailored around a model United Nations law and aim to ensure easier access for creditors to overseas assets of stressed companies. Such a framework would enable India to seek cooperation from foreign countries to bring defaulters' assets there under consideration for insolvency proceedings. Group insolvency: The ministry will also introduce the 'voluntary' group insolvency framework that will facilitate a joint resolution of stressed entities of a domestic corporate group, given the interconnected nature of their operations. ET had earlier reported that the framework could empower the committees of creditors of various bankrupt companies of a group to decide if they need to join hands to speed up resolution and maximise gains or pursue the processes separately. It will apply only to a group's bankrupt companies and won't extend to its solvent entities. Currently, resolutions of individual entities of a group are pursued separately by their respective creditors. A proper group insolvency framework was necessitated after the interconnected nature of group companies had delayed resolution in a few cases, such as those of Videocon, Era infrastructure, Lanco, Educomp, Amtek, Adel, Jaypee and Aircel.
Time of India
2 days ago
- Business
- Time of India
Changes to IBC finalised after months of talks, PMO approval
The corporate affairs ministry has finalised amendments to the Insolvency and Bankruptcy Code (IBC), following approval by the Prime Minister's Office (PMO), people with knowledge of the matter said. This comes after months of deliberations and is aimed at expediting the resolution of bankrupt firms and bolstering recoveries by creditors. The proposed amendments include a framework for each of the three types of bankruptcy resolutions under the IBC — creditor-led resolution , cross-border insolvency and corporate group bankruptcy. The new frameworks These changes are the latest by the Centre since 2021 as it seeks to strengthen the code, said the people cited. Between its launch in May 2016 and 2021, the IBC had been amended six times to respond to emerging challenges in resolving bankrupt firms. The government had since then refrained from further tinkering to allow the bankruptcy ecosystem to take root. In a meeting on June 6 chaired by Shaktikanta Das, principal secretary to Prime Minister Narendra Modi, the changes were discussed in detail, one of the people told ET . Accordingly, the ministry will move a cabinet note shortly following approval by finance and corporate affairs minister Nirmala Sitharaman, aiming to introduce the amendments in the upcoming monsoon session of parliament starting July 21, they said. Live Events Das is former governor of the Reserve Bank of India. However, the amendments are unlikely to include any provision aimed at avoiding a repeat of the situation that arose after the Supreme Court, in May, scrapped JSW Steel's ₹19,700 crore acquisition of Bhushan Power and Steel four years ago, flagging violations of rules or processes. This is because the apex court had upheld the integrity and intent of the IBC and underscored the need to abide by prescribed legal processes on the part of all stakeholders, said the people cited. However, regulations could be changed to ensure IBC processes are followed in letter and spirit during acquisitions, they said. Changes in regulations won't require parliamentary approval. Creditor-led resolution The creditor-led resolution framework will largely involve out-of-court arrangements. This will lower the workload of the National Company Law Tribunal (NCLT) by enabling the committee of creditors to take on greater responsibility and expedite stressed asset resolution , ET has reported. Cross-border insolvency In a change of the earlier plan, the government now intends to introduce the cross-border insolvency framework under the IBC, the people said. This will be tailored around a model United Nations law and aim to ensure easier access for creditors to overseas assets of stressed companies. Such a framework would enable India to seek cooperation from foreign countries to bring defaulters' assets there under consideration for insolvency proceedings. Group insolvency The ministry will also introduce the 'voluntary' group insolvency framework that will facilitate a joint resolution of stressed entities of a domestic corporate group, given the interconnected nature of their operations. ET had earlier reported that the framework could empower the committees of creditors of various bankrupt companies of a group to decide if they need to join hands to speed up resolution and maximise gains or pursue the processes separately. It will apply only to a group's bankrupt companies and won't extend to its solvent entities. Currently, resolutions of individual entities of a group are pursued separately by their respective creditors. A proper group insolvency framework was necessitated after the interconnected nature of group companies had delayed resolution in a few cases, such as those of Videocon, Era Infrastructure, Lanco, Educomp, Amtek, Adel, Jaypee and Aircel.
