NNA Asia top stories Thursday, Dec. 6

06, Dec. 2018

TOKYO, NNA – The following are the top stories from NNA Asia for Thursday, Dec. 6.

Tokyo Gas, First Gen to jointly develop LNG terminal in Philippines

MANILA, NNA – Tokyo Gas Co. said Wednesday it has agreed with a major power producer in the conglomerate Lopez Group to develop the Philippines’s first liquefied natural gas terminal.

Tokyo Gas will operate the terminal with First Gen Corp., the country’s largest natural gas buyer, expecting demand for LNG imports to rise as local supplies become depleted.

More Taiwan CEOs mull shifting China investment to SE Asia next year: magazine survey

TAIPEI, NNA – More Taiwan CEOs are considering investing more in Southeast Asian countries next year due to rising costs and tighter environmental regulations in China.

Of 769 CEOs surveyed by the CommonWealth Magazine, 18.4 percent plan to invest in Southeast Asia compared to 17.7 percent for China, overtaking China for the first time as its trade dispute with the United States continues.

S. Korean e-commerce likely to top 100 trillion won ($89.7 billion) for 1st time in 2018

SEOUL, NNA – South Korea’s e-commerce market is likely to top 100 trillion won ($89.7 billion) for the first time this year as more consumers use online retail and service platforms for their speedy delivery and handy payment methods via smartphone.

Consumer spending through e-commerce jumped 22.5 percent from a year earlier to 90.6 trillion won for the January-October period and is expected to reach 120 trillion for the full year, data from the Korea National Statistical Office released Wednesday showed.

Local conglomerate Lotte Group will launch an integrated online shopping application for seven retail business units and also plans to invest 3 trillion won in e-commerce business over the next five years.