Search Results for: Korean

Member companies of the Foreign Buyers Association of the Philippines (Fobap) fear failing to reach a USD1 billion-mark in apparel export revenue in 2024, but they hope for improvement next year, as a free trade agreement (FTA) between the Philippines and South Korea is expected to enter into force.…

Despite mainland China tightly restricting buying, selling, mining and holding of crypto-currency in 2021 (1), private holdings and peer-to-peer transactions remain legal and so the country remains a major crypto centre – and hence a virtual currency ML risk. Its largest autonomous special administrative region (SAR) Hong Kong is also pushing ahead with a fully legal and regulated crypto sector, with AML/CFT controls being rolled out.…

There are undoubtedly vast amounts of data available through cryptocurrency blockchains for AML/CFT/CFP compliance, supervision and law enforcement, making increasingly available and sophisticated assessment tools more valuable.

Yong Li, Anti‑Money Laundering Advisor, for Canada-based consultancy The AMLShop, told MLB of the available crypto-ledger data: “Up to the end of last month, for Bitcoin it’s 596 gigabytes [GB] and for the Ethereum it is about 1,100 GB.…

The number of build-to-order (BTO) auto consumers pre-ordering vehicles in north America direct from OEMs, has been growing, and is expected to continue expanding, but not as quickly as automakers predicted during the Covid-19 pandemic. US sample survey data released by Cox Automotive in February (2024) said 267 consumers out of 1,932 had re-ordered vehicles on the previous 12 months, with 221 buying from franchised OEMs such as Ford and Toyota, while 46 bought from new form OEMs such as Tesla and Rivian.…

The Indian clothing and textile industry is gearing up to adopt artificial intelligence (AI) powered technologies and other high-tech innovative manufacturing processes to remain competitive, a major industry gathering in Delhi saw last week.

Gartex Texprocess India, a textile industry exhibition with 170 exhibitors and about 15,000 visitors, held from August 1 to 3, also highlighted innovations in sustainable fabrics, eco-friendly trims and high-performance accessories.…

A company helping ship North Korean military supplies into Russia has been sanctioned by the European Union (EU), after Moscow signed a defence deal with North Korea, the rogue one-party state subject to FATF’s harshest AML/CFT controls.

As Moscow continues its two-and-a-half-year long invasion of Ukraine, the EU Council of Ministers have banned any transactions with the company and frozen any EU assets of LLC Vostochnaya Stevedoring Co, which handles containers in Vostochny port, in Russia’s Pacific far east region Primorsky, near Vladivostok, just 180km from the Russian-North Korea border.…

Smart textile suppliers need to take account of electronics safety rules as well as regulatory controls and standards for regular fabric-based products can be a significant challenge, especially in Asia, where legal regimes may be less familiar to western companies.

But the importance of understanding these rules is clear given the extensive sourcing that continues in Asia, especially should smart textile product makers wish to sell their products in populous and often wealthy Asian markets.…

The British Virgin Islands (BVI), an autonomous UK overseas territory with a major company formation and offshore banking sector, has abandoned past commitments to create a public beneficial ownership (BO) register. Its government has said it will instead seek to ensure any new publicly accessible register of beneficial ownership (PARBO) will operate in line with the November 2022 European Court of Justice (ECJ) ruling that said: “The general public’s access to information on beneficial ownership constitutes a serious interference with the fundamental rights to respect for private life and to the protection of personal data” (1).…

The textile and chemical industries have welcomed new research creating laser-induced graphene (LIG) on e-textiles using laser-direct patterning technology but is looking for ways to scale-up this innovation so it can be rolled-out commercially.

A South Korean research team converted raw Kevlar textiles, synthetic fibre known for its high strength and durability, to electrically conductive LIG via ‘femtosecond’ laser pulses in ambient air (femtosecond being one quadrillionth, or one millionth of one billionth, of a second.)…

Governments and major auto companies worldwide are vying to be sustainable transport champions, declaring ambitious goals for a switch to electric and zero-emission vehicles as well as other measures to green up their fleets. But environmentalists say that ‘green-botching’ where environmental measures are being implemented by governments and companies so badly that they undermine their green goals is becoming a real problem.…