https://www.scmp.com/rss/525123/feed Yeon Woo Lee is a reporter with The Korea Times. She is currently based in Hong Kong, writing for both the South China Morning Post and The Korea Times, under an exchange programme. She covers a wide range of topics including macroeconomics, stock market, companies, and crypto. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Yeon Woo Lee Yeon Woo Lee China wants artificial intelligence to become a new engine of growth, powering everything from factory upgrades to scientific discovery. But outside the country’s technology hubs, the economic benefits promised by AI may be harder to realise. Recent studies suggest that AI will widen regional divides. Big cities with deep pools of talent, capital and innovative firms are best placed to adopt the technology, while smaller cities and rural areas may struggle to keep up. According to analysts, the... https://www.scmp.com/economy/china-economy/article/3352918/chinas-ai-drive-seen-widening-wealth-gap-testing-common-prosperity-push?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3352918/chinas-ai-drive-seen-widening-wealth-gap-testing-common-prosperity-push?utm_source=rss_feed Sun, 10 May 2026 00:00:09 +0000 Yeon Woo Lee Yeon Woo Lee Samsung Electronics’ surprise leadership reshuffle in its TV division points to a strategic pivot away from a hardware-led model, analysts have said, as intensifying competition from Chinese rivals pushes the company to rethink how it generates revenue beyond television sales. The South Korean tech giant on Monday appointed Lee Won-jin, former head of its global marketing office, to lead the visual display business. Samsung said Lee was “expected to spearhead business turnarounds and identify... https://www.scmp.com/tech/article/3352511/samsung-reshuffle-signals-shift-beyond-hardware-china-rivalry-intensifies?utm_source=rss_feed https://www.scmp.com/tech/article/3352511/samsung-reshuffle-signals-shift-beyond-hardware-china-rivalry-intensifies?utm_source=rss_feed Tue, 05 May 2026 10:29:35 +0000 Yeon Woo Lee Yeon Woo Lee Vigloo, a South Korean micro drama production company, has gone all-in on artificial intelligence this year, betting that automation can fundamentally reshape how content is made. The company has begun spending roughly 30 per cent of its budget on AI-driven workflows, and the change is already having a dramatic impact. It can now produce a show in just one month rather than three, and at one-fifth of the cost. That is not only allowing Vigloo to release far more shows, but also to experiment... https://www.scmp.com/economy/china-economy/article/3352019/how-china-using-ai-and-state-funding-transform-micro-drama-industry?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3352019/how-china-using-ai-and-state-funding-transform-micro-drama-industry?utm_source=rss_feed Fri, 01 May 2026 06:00:12 +0000 Yeon Woo Lee Yeon Woo Lee Electric vehicles (EVs) made in China now account for one in every three new registrations in South Korea, as Tesla’s Shanghai-built models power the surge and Chinese carmakers start to gain traction. The country’s auto manufacturers have further room to expand, analysts said, supported by higher fuel prices linked to the US-Israeli war in Iran and looser restrictions than traditional target markets. Still, tightening subsidy regimes could slow the pace of expansion, they cautioned. Sales of... https://www.scmp.com/economy/global-economy/article/3351401/chinese-evs-make-inroads-south-korea-one-worlds-most-competitive-auto-markets?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3351401/chinese-evs-make-inroads-south-korea-one-worlds-most-competitive-auto-markets?utm_source=rss_feed Mon, 27 Apr 2026 02:00:24 +0000 Yeon Woo Lee Yeon Woo Lee Once a niche destination, Central Asia is quickly emerging as a key market for Chinese travellers, supported by robust traffic growth, expanding air links and deeper economic ties under Beijing’s Belt and Road Initiative, according to analysts. Data from the Civil Aviation Administration of China showed that passenger traffic to Central Asia grew 59.3 per cent in 2025 from a year earlier, marking one of the fastest growth rates among all regions tracked, said Mayur Patel, commercial and industry... https://www.scmp.com/economy/china-economy/article/3351340/chinese-travellers-flock-central-asia-flight-bookings-soar-120-pre-covid-levels?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3351340/chinese-travellers-flock-central-asia-flight-bookings-soar-120-pre-covid-levels?utm_source=rss_feed Sun, 26 Apr 2026 08:00:11 +0000 Yeon Woo Lee Yeon Woo Lee As cryptocurrency converges with traditional finance, driving industry growth and mainstream adoption, officials at Hong Kong’s Web3 Festival are anticipating the next leap: the emergence of artificial intelligence agents. They say AI agents – which perceive their environment, make decisions and act autonomously around the clock – will need tools to unlock their full economic potential, which crypto can provide through its ability to transfer funds instantly across borders without... https://www.scmp.com/tech/blockchain/article/3350852/crypto-industry-sees-ai-driven-agent-economy-next-growth-driver?utm_source=rss_feed https://www.scmp.com/tech/blockchain/article/3350852/crypto-industry-sees-ai-driven-agent-economy-next-growth-driver?utm_source=rss_feed Tue, 21 Apr 2026 10:07:51 +0000 Yeon Woo Lee Yeon Woo Lee Hong Kong is better placed than many of its Asian peers to turn stablecoins into commercially viable products at scale, underpinned by its early lead in tokenisation and growing experience in moving financial infrastructure on-chain, according to HSBC’s head of digital assets research. “Hong Kong already has examples of deploying the technology and can now look towards commercial applications and scaling,” said Daragh Maher, HSBC’s head of digital assets research, in an interview on the... https://www.scmp.com/tech/blockchain/article/3350498/hong-kong-seen-leading-asia-push-scale-stablecoins-hsbc-says?utm_source=rss_feed https://www.scmp.com/tech/blockchain/article/3350498/hong-kong-seen-leading-asia-push-scale-stablecoins-hsbc-says?utm_source=rss_feed Sat, 18 Apr 2026 02:30:11 +0000 Iris Deng,Yeon Woo Lee,Coco Feng Iris Deng,Yeon Woo Lee,Coco Feng Samsung Electronics faces a “strategic dilemma” over whether to defend its shrinking footprint in China or redeploy resources to bolster global competitiveness, analysts say, as speculation grows that the tech giant may scale back parts of its mainland operations and double down on semiconductors. The South Korean firm was considering a broad restructuring of its China business, potentially exiting segments such as home appliances and displays while retaining smartphones and storage as core... https://www.scmp.com/tech/big-tech/article/3349728/samsung-weighs-china-retreat-focus-shifts-global-chip-race-analysts?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3349728/samsung-weighs-china-retreat-focus-shifts-global-chip-race-analysts?utm_source=rss_feed Sat, 11 Apr 2026 05:08:28 +0000 Yeon Woo Lee Yeon Woo Lee Repeat short-haul visits by Chinese travellers to South Korea are expected to rise after Seoul eased multiple-entry visa rules, but analysts say the immediate impact may be limited because of growing competition from Southeast Asia and higher airfares linked to the US-Israeli war in Iran. The South Korean embassy in Beijing announced that Chinese nationals who had previously visited South Korea would now be eligible for a five-year multiple-entry visa. Those holding residency status in 14 major... https://www.scmp.com/economy/global-economy/article/3348904/south-korea-eases-chinese-travel-visas-southeast-asia-rivals-iran-war-cloud-outlook?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3348904/south-korea-eases-chinese-travel-visas-southeast-asia-rivals-iran-war-cloud-outlook?utm_source=rss_feed Mon, 06 Apr 2026 01:00:12 +0000 Yeon Woo Lee Yeon Woo Lee Samsung Electronics and SK Hynix are stepping up investments in their China wafer fabs as they race to boost supply amid a tightening memory chip market driven by demand for artificial intelligence computing, underscoring China’s continued role in semiconductor production despite US restrictions. Samsung Electronics invested 465.4 billion won (US$308.8 million) in its Xian chip plant in 2025, a 67.5 per cent increase from a year earlier, according to an annual report filed with South Korea’s... https://www.scmp.com/tech/tech-trends/article/3348159/south-korean-chip-giants-step-china-investments-combat-global-ai-memory-shortage?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3348159/south-korean-chip-giants-step-china-investments-combat-global-ai-memory-shortage?utm_source=rss_feed Sun, 29 Mar 2026 00:00:08 +0000 Yeon Woo Lee Yeon Woo Lee Global investors should take a fresh look at China, where rapid technological advancement is converging with declining geopolitical risk relative to other regions, senior investment executives said at the Milken Institute’s Global Investors’ Symposium on Monday. The event in Hong Kong brought together 500 business leaders and senior executives from the investment, banking, finance, technology and consumer sectors under the theme “Capital in a Changing World”. “I think we should seriously think... https://www.scmp.com/business/markets/article/3347593/global-investors-pivot-stability-china-amid-turmoil-milken-forum-speakers?utm_source=rss_feed https://www.scmp.com/business/markets/article/3347593/global-investors-pivot-stability-china-amid-turmoil-milken-forum-speakers?utm_source=rss_feed Mon, 23 Mar 2026 10:01:10 +0000 Yeon Woo Lee Yeon Woo Lee Gold prices have continued to weaken despite escalating tensions in the US-Israel conflict with Iran, breaking from the metal’s traditional role as a geopolitical hedge, as fading expectations of interest rate cuts and a stronger US dollar weigh on sentiment, analysts said. The metal has declined about 15 per cent since a brief surge on March 2, when prices climbed to around US$5,300 per ounce following US and Israeli strikes on Iran. A modest rebound driven by technical buying on Friday did... https://www.scmp.com/business/commodities/article/3347473/gold-slides-hawkish-fed-and-strong-us-dollar-override-geopolitical-fears?utm_source=rss_feed https://www.scmp.com/business/commodities/article/3347473/gold-slides-hawkish-fed-and-strong-us-dollar-override-geopolitical-fears?utm_source=rss_feed Sun, 22 Mar 2026 09:00:27 +0000 Yeon Woo Lee Yeon Woo Lee Chinese tea brands are accelerating their expansion into South Korea, driven by intensifying competition at home and rising demand for healthier beverages in a market long dominated by coffee. Chagee, known for its milk tea and branding inspired by traditional Chinese culture, said it planned to open three stores in Seoul in the second quarter, marking its first expansion into East Asia outside China. The company operated 7,338 teahouses as of the end of September and has built a significant... https://www.scmp.com/business/china-business/article/3347417/chinese-new-style-tea-makers-expand-south-korea-challenge-coffee-dominance?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3347417/chinese-new-style-tea-makers-expand-south-korea-challenge-coffee-dominance?utm_source=rss_feed Sun, 22 Mar 2026 01:30:16 +0000 Coco Feng,Yeon Woo Lee Coco Feng,Yeon Woo Lee Nvidia’s latest language processing chip, unveiled at the company’s annual artificial intelligence conference, has opened a new frontier in the AI inference arms race, as the booming market for AI agents like OpenClaw presents a complex new reality for China’s semiconductor industry, according to analysts. The Nvidia Groq 3 Language Processing Unit (LPU), introduced on Monday at GTC 2026 in San Jose, California, was described by the company as an accelerator with fast memory and low latency... https://www.scmp.com/tech/article/3346880/how-nvidias-inference-bet-gtc-poses-challenge-and-opportunity-china?utm_source=rss_feed https://www.scmp.com/tech/article/3346880/how-nvidias-inference-bet-gtc-poses-challenge-and-opportunity-china?utm_source=rss_feed Tue, 17 Mar 2026 14:00:10 +0000 Yeon Woo Lee Yeon Woo Lee Declining fertility rates have long been viewed as a drag on economic growth, but the outlook may not be entirely bleak for Asian economies such as China, South Korea and Japan, analysts said. Demographic pressure was accelerating investment in robotics and artificial intelligence (AI) in these rapidly ageing yet technologically advanced countries, helping offset labour shortages and sustain productivity even as populations shrank, they argued. Analysts at Bank of America (BofA) Global Research... https://www.scmp.com/economy/china-economy/article/3346475/chinas-ai-adoption-may-limit-economic-fallout-its-rapidly-ageing-population-analysts?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3346475/chinas-ai-adoption-may-limit-economic-fallout-its-rapidly-ageing-population-analysts?utm_source=rss_feed Fri, 13 Mar 2026 06:58:35 +0000 Yeon Woo Lee Yeon Woo Lee China has for the first time included commercial health insurance in its 2026 government work report, signalling efforts to strengthen the country’s social safety net and support the growth of innovative drugs and medical devices. On Thursday, Chinese Premier Li Qiang said the government would “work faster to develop commercial health insurance” and promote the “high-quality development of innovative drugs and medical devices” to better meet people’s diverse needs. Behind the unusual emphasis... https://www.scmp.com/business/china-business/article/3345717/china-pursue-commercial-health-insurance-ease-public-strain-support-drug-innovation?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3345717/china-pursue-commercial-health-insurance-ease-public-strain-support-drug-innovation?utm_source=rss_feed Fri, 06 Mar 2026 10:12:46 +0000 Yeon Woo Lee Yeon Woo Lee South Korean retail investors, known for their aggressive trading style, are ramping up exposure to Chinese artificial intelligence-related stocks, even as their home market ranks among the world’s top performers. Data from SEIBro, a portal operated by the Korea Securities Depository, showed that South Korean retail investors bought US$507 million worth of Hong Kong-listed shares and US$154 million of mainland-listed shares between January 2 and Monday. The data showed that total purchases had... https://www.scmp.com/business/markets/article/3344586/south-korean-investors-pour-millions-minimax-other-chinese-ai-and-chip-stocks?utm_source=rss_feed https://www.scmp.com/business/markets/article/3344586/south-korean-investors-pour-millions-minimax-other-chinese-ai-and-chip-stocks?utm_source=rss_feed Wed, 25 Feb 2026 22:00:09 +0000 Yeon Woo Lee,Alice Li Yeon Woo Lee,Alice Li For his family’s first overseas trip together, Tang Junjie carefully planned a holiday to Japan during China’s longest Lunar New Year break on record. Flights were booked months in advance by the 22-year-old from Sichuan province, who had already made three solo visits to the neighbouring country that has long been a draw for Chinese tourists. But a sudden deterioration in Sino-Japanese relations changed everything. “The original plan was to transit through Seoul on our way to Japan,” Tang said.... https://www.scmp.com/economy/global-economy/article/3344356/seoul-gains-tokyos-pain-over-lunar-new-year-politics-reshapes-chinas-tourism-map?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3344356/seoul-gains-tokyos-pain-over-lunar-new-year-politics-reshapes-chinas-tourism-map?utm_source=rss_feed Tue, 24 Feb 2026 03:00:11 +0000 Yeon Woo Lee Yeon Woo Lee A surge in South Korean visitors wanting to play golf in Guangzhou, fuelled by China’s visa-free travel policy and the city’s warm climate, is keeping Quan Yulan busier than ever at the travel agency where she has worked for 12 years. Compared with 2023, when international travel began recovering after the coronavirus pandemic, Korean bookings surged by more than 300 per cent last year, said Quan, who is of Korean descent, adding that the Guangzhou-based agency expected even stronger growth this... https://www.scmp.com/economy/china-economy/article/3343744/how-did-chinas-guangzhou-tee-surge-south-korean-tourists?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3343744/how-did-chinas-guangzhou-tee-surge-south-korean-tourists?utm_source=rss_feed Thu, 19 Feb 2026 02:00:08 +0000 Yeon Woo Lee Yeon Woo Lee China and South Korea have had a turbulent relationship over the past few years as they compete across a range of hi-tech industries. But the two countries now appear to be bonding over a shared challenge: their rapidly ageing societies. The issue has featured on the agenda of several meetings between President Xi Jinping and South Korean President Lee Jae Myung in recent months, with the leaders pledging to work together to deal with the economic changes being wrought by their nations’ low... https://www.scmp.com/economy/china-economy/article/3343740/china-and-south-korea-find-new-shared-bond-their-rapidly-ageing-societies?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3343740/china-and-south-korea-find-new-shared-bond-their-rapidly-ageing-societies?utm_source=rss_feed Wed, 18 Feb 2026 06:00:10 +0000 Yeon Woo Lee Yeon Woo Lee Hong Kong’s securities regulator unveiled several new initiatives on Wednesday aimed at further developing the city’s virtual asset sector while strengthening investor safeguards. The announcements by the Securities and Futures Commission (SFC) coincided with Consensus 2026, a major cryptocurrency conference running this week at the Hong Kong Convention and Exhibition Centre, attended by industry figures such as Binance CEO Richard Teng and Solana Foundation president Lily Liu. “[At Consensus... https://www.scmp.com/business/banking-finance/article/3343189/hong-kong-bridges-traditional-and-digital-finance-worlds-new-virtual-asset-initiatives?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3343189/hong-kong-bridges-traditional-and-digital-finance-worlds-new-virtual-asset-initiatives?utm_source=rss_feed Wed, 11 Feb 2026 09:30:20 +0000 Frank Chen,Yeon Woo Lee Frank Chen,Yeon Woo Lee When the first cohort of elite foreign captains parachuted into Chinese airlines in the 2000s, their sky-high pay – sometimes reaching 1 million yuan a year – raised eyebrows among their Chinese counterparts. These hotshot aviators, with their international exposure and qualifications, enjoyed a stratospheric level of success in the burgeoning Chinese market. Facing a shortage of experienced pilots, Chinese carriers embraced them with open arms, granting generous benefits and speedy paths to... https://www.scmp.com/economy/china-economy/article/3342101/chinas-expat-pilots-arrived-red-carpet-now-theyre-taking-red-eye-out?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3342101/chinas-expat-pilots-arrived-red-carpet-now-theyre-taking-red-eye-out?utm_source=rss_feed Mon, 02 Feb 2026 22:00:08 +0000 Yeon Woo Lee Yeon Woo Lee For Choi Yu-jin, a 31-year-old Seoul-based fashion designer, the perfect getaway requires three elements: value, spotless streetscapes and unforgettable flavours. And Shanghai, she says, delivers on all counts. Three visits since 2024, with a fourth planned for April, are testament to a city that is increasingly capturing the imagination – and wallets – of South Korean travellers, buoyed by visa-free access and a burgeoning reputation for cosmopolitan appeal. “Restaurants and streets were... https://www.scmp.com/economy/global-economy/article/3341851/chinas-visa-free-waivers-spark-korean-travel-boom-underpin-tourism-revival?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3341851/chinas-visa-free-waivers-spark-korean-travel-boom-underpin-tourism-revival?utm_source=rss_feed Sun, 01 Feb 2026 00:30:07 +0000 Yeon Woo Lee Yeon Woo Lee Like many of her classmates, Xie Roumei, a 28-year-old accountant from China’s Fujian province, started using South Korean cosmetics in high school – a preference she carried into her twenties. Most of the eye make-up and beauty products she uses are still Korean, Xie said – a loyalty that has helped turn its cosmetics industry into a global powerhouse, with exports rivalling those of semiconductors and cars. Fuelled by the global appeal of K-pop, K-dramas and the “glass skin” ideal, the... https://www.scmp.com/economy/global-economy/article/3340143/chinas-cosmetics-brands-stepping-out-k-beautys-shadow-set-sights-global-markets?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3340143/chinas-cosmetics-brands-stepping-out-k-beautys-shadow-set-sights-global-markets?utm_source=rss_feed Sat, 17 Jan 2026 22:00:16 +0000 Yeon Woo Lee Yeon Woo Lee Chinese tourist numbers are recovering across Asia after a pandemic-era contraction, buoyed by the expansion of visa-free policies and a stronger yuan. But one thing has not returned: the spending sprees that used to boost duty-free retailers around the world. The trend can be clearly seen in South Korea, which relied on Chinese travellers for 70 per cent of its duty-free sales before Covid-19. Around 5 million visitors from China arrived in the country during the first 11 months of 2025, a... https://www.scmp.com/economy/china-economy/article/3339833/why-are-chinese-tourists-spending-less-overseas?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3339833/why-are-chinese-tourists-spending-less-overseas?utm_source=rss_feed Wed, 14 Jan 2026 08:00:11 +0000 Yeon Woo Lee Yeon Woo Lee China and South Korea have reignited their economic cooperation after years of relatively muted ties, signing US$44 million in new export deals and dozens of memorandums of understanding (MOUs) in the wake of a high-level summit held amid shifting regional dynamics – most notably, a protracted diplomatic dispute between Beijing and Tokyo. South Korea hosted its first export promotion and investment attraction event in Beijing in nine years, according to its Ministry of Trade, Industry and... https://www.scmp.com/economy/china-economy/article/3338983/china-south-korea-sign-us44-million-trade-deals-after-years-friction?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3338983/china-south-korea-sign-us44-million-trade-deals-after-years-friction?utm_source=rss_feed Wed, 07 Jan 2026 03:00:09 +0000 Yeon Woo Lee Yeon Woo Lee In a bid to overhaul their economic relationship, China and South Korea are reviving long-stalled trade talks, with an eye on moving beyond factory floors to target the lucrative services sector as geopolitical shifts redraw the region’s alliances. The thaw follows a December 12 agreement between Minister of Commerce Wang Wentao and South Korean Minister of Trade, Industry and Energy Kim Jung-kwan to accelerate negotiations on the second phase of their free-trade agreement (FTA). The push aims... https://www.scmp.com/economy/global-economy/article/3337086/blackpink-ayumi-why-china-may-reward-south-koreas-soft-stance-amid-japan-tensions?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3337086/blackpink-ayumi-why-china-may-reward-south-koreas-soft-stance-amid-japan-tensions?utm_source=rss_feed Mon, 22 Dec 2025 02:00:09 +0000 Yeon Woo Lee,Ralph Jennings Yeon Woo Lee,Ralph Jennings As Chinese tourists pull back from visiting Japan amid a diplomatic row, a slumping won is positioning South Korea as the new bargain destination for mainland travellers, analysts said. The Korean won has become Asia’s worst-performing currency in the second half of the year, weighed down by an interest rate gap with the United States and sustained equity outflows to the US market. In October, South Korea’s real effective exchange rate plunged to a 16-year low – falling even further than it did... https://www.scmp.com/economy/china-economy/article/3336644/why-south-korea-becoming-chinas-new-bargain-travel-hotspot-amid-japan-spat?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3336644/why-south-korea-becoming-chinas-new-bargain-travel-hotspot-amid-japan-spat?utm_source=rss_feed Tue, 16 Dec 2025 13:00:16 +0000