South Korea's president-elect Yoon Suk-yeol has threatened pre-emptive strikes on the north if needed, a move his rivals called provocative. Reuters
South Korea's president-elect Yoon Suk-yeol has threatened pre-emptive strikes on the north if needed, a move his rivals called provocative. Reuters
South Korea's president-elect Yoon Suk-yeol has threatened pre-emptive strikes on the north if needed, a move his rivals called provocative. Reuters
South Korea's president-elect Yoon Suk-yeol has threatened pre-emptive strikes on the north if needed, a move his rivals called provocative. Reuters

Yoon Suk-yeol: who is South Korea's new tough-talking president?


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Yoon Suk-yeol, a former prosecutor and now South Korea’s next president, said he will teach Kim Jong-un to behave, obtain better security commitments from America and restore conservative rule in the country.

Mr Yoon, 61, who served as his predecessor’s prosecutor general, says he is done with being “subservient” after the last five years of engagement with Pyongyang that included reduced joint US military drills, brokering high-level summits with Donald Trump and joint economic engagement.

Instead, he calls the North Korean leader a “rude boy” and told the people of the south that, “if you give me a chance, I will teach him some manners” and make him “snap out of it”.

To back up his rhetoric, he has threatened pre-emptive strikes on the north if needed — a move his rivals called provocative and analysts warn would be unrealistic and dangerous.

Mr Yoon, who also vowed to stand up to China, has accused the government of his predecessor, Moon Jae-in, of undermining its decades-long alliance with the US by reaching out to Pyongyang and Beijing.

People in Seoul watch a news report on North Korea's launch of what appears to be a ballistic missile. Reuters
People in Seoul watch a news report on North Korea's launch of what appears to be a ballistic missile. Reuters

“Under Yoon, we will probably see efforts to reset inter-Korean relations,” Soo Kim of the Rand Corporation told AFP. “It is a departure from the Moon administration's prioritisation of inter-Korean engagement, to say the least.”

But others said that a government in Seoul that takes a hard line will do nothing to slow Pyongyang’s ballistic developments.

Since the start of the year, Pyongyang has conducted a record-breaking nine weapons tests, including those involving banned hypersonic and medium-range ballistic missiles.

“North Korea will pick up the tempo of its nuclear and missile development and use the hawkish South Korean government to justify its actions,” Hong Min, a researcher at the Korea Institute for National Unification, told AFP.

Mr Yoon, who won by a razor-thin margin against the incumbent Democratic Party's Lee Jae-myung, said he will also bolster ties with Washington and its “extended deterrence,” a reference to America’s ability to use military and nuclear forces to deter assaults on its allies.

Ruling Democratic Party candidate Lee Jae-myung lost to conservative rival Yoon Suk-yeol. AP
Ruling Democratic Party candidate Lee Jae-myung lost to conservative rival Yoon Suk-yeol. AP

At home, he has promised more than 2.5 million housing units to suppress soaring housing prices, offer financial aid packages to small business owners hit by Covid-19 pandemic restrictions and drastically raise salaries for conscript soldiers.

It is still unclear whether he could translate that into legislative reform steps because Mr Lee’s liberal party still holds about 60 per cent of seats in the 295-member parliament.

A novice in party politics who has built up an image as a strong-minded and uncompromising prosecutor, Mr Yoon could enjoy a longer honeymoon period than Mr Moon given that as many opinion surveys show that more than half of people polled want a shift in power, experts said.

As a prosecutor, he spearheaded high-profile corruption investigations into the past conservative governments.

During a parliament audit in 2013, Mr Yoon, then a senior prosecutor, revealed he was put under pressure by his boss over an investigation into an allegation that the country’s spy agency had conducted an illicit online campaign to help conservative President Park Geun-hye win the previous year’s election.

South Korean election officials sort voting papers for ballot counting in the presidential election at a gymnasium in Seoul on March 9, 2022. (Photo by HONG Yoon-gi / AFP)
South Korean election officials sort voting papers for ballot counting in the presidential election at a gymnasium in Seoul on March 9, 2022. (Photo by HONG Yoon-gi / AFP)

At the time, he famously said, “I am not loyal to [high-level] people.”

He was demoted but when Ms Park’s government was toppled over a separate corruption scandal in 2017, Mr Moon made Mr Yoon head of a Seoul prosecution office, which investigated Ms Park and other conservative leaders. Mr Yoon was named Mr Moon’s prosecutor general in 2019.

However, not everyone is sold on the prosecutor turned tough-talking president.

In 2017, Mr Lee, then Seongnam mayor, said he wanted to make Mr Yoon his prosecutor general if he became president.

He now says that a Yoon government would begin a “prosecutors’ dictatorship that is scarier than past military-backed governments.”

The Buckingham Murders

Starring: Kareena Kapoor Khan, Ash Tandon, Prabhleen Sandhu

Director: Hansal Mehta

Rating: 4 / 5

Monster Hunter: World

Capcom

PlayStation 4, Xbox One

Infiniti QX80 specs

Engine: twin-turbocharged 3.5-liter V6

Power: 450hp

Torque: 700Nm

Price: From Dh450,000, Autograph model from Dh510,000

Available: Now

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Game Changer

Director: Shankar 

Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram

Rating: 2/5

Heavily-sugared soft drinks slip through the tax net

Some popular drinks with high levels of sugar and caffeine have slipped through the fizz drink tax loophole, as they are not carbonated or classed as an energy drink.

Arizona Iced Tea with lemon is one of those beverages, with one 240 millilitre serving offering up 23 grams of sugar - about six teaspoons.

A 680ml can of Arizona Iced Tea costs just Dh6.

Most sports drinks sold in supermarkets were found to contain, on average, five teaspoons of sugar in a 500ml bottle.

While you're here
Benefits of first-time home buyers' scheme
  • Priority access to new homes from participating developers
  • Discounts on sales price of off-plan units
  • Flexible payment plans from developers
  • Mortgages with better interest rates, faster approval times and reduced fees
  • DLD registration fee can be paid through banks or credit cards at zero interest rates
Our legal consultant

Name: Dr Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

How green is the expo nursery?

Some 400,000 shrubs and 13,000 trees in the on-site nursery

An additional 450,000 shrubs and 4,000 trees to be delivered in the months leading up to the expo

Ghaf, date palm, acacia arabica, acacia tortilis, vitex or sage, techoma and the salvadora are just some heat tolerant native plants in the nursery

Approximately 340 species of shrubs and trees selected for diverse landscape

The nursery team works exclusively with organic fertilisers and pesticides

All shrubs and trees supplied by Dubai Municipality

Most sourced from farms, nurseries across the country

Plants and trees are re-potted when they arrive at nursery to give them room to grow

Some mature trees are in open areas or planted within the expo site

Green waste is recycled as compost

Treated sewage effluent supplied by Dubai Municipality is used to meet the majority of the nursery’s irrigation needs

Construction workforce peaked at 40,000 workers

About 65,000 people have signed up to volunteer

Main themes of expo is  ‘Connecting Minds, Creating the Future’ and three subthemes of opportunity, mobility and sustainability.

Expo 2020 Dubai to open in October 2020 and run for six months

Some of Darwish's last words

"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008

His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.

TICKETS

Tickets start at Dh100 for adults, while children can enter free on the opening day. For more information, visit www.mubadalawtc.com.

It's up to you to go green

Nils El Accad, chief executive and owner of Organic Foods and Café, says going green is about “lifestyle and attitude” rather than a “money change”; people need to plan ahead to fill water bottles in advance and take their own bags to the supermarket, he says.

“People always want someone else to do the work; it doesn’t work like that,” he adds. “The first step: you have to consciously make that decision and change.”

When he gets a takeaway, says Mr El Accad, he takes his own glass jars instead of accepting disposable aluminium containers, paper napkins and plastic tubs, cutlery and bags from restaurants.

He also plants his own crops and herbs at home and at the Sheikh Zayed store, from basil and rosemary to beans, squashes and papayas. “If you’re going to water anything, better it be tomatoes and cucumbers, something edible, than grass,” he says.

“All this throwaway plastic - cups, bottles, forks - has to go first,” says Mr El Accad, who has banned all disposable straws, whether plastic or even paper, from the café chain.

One of the latest changes he has implemented at his stores is to offer refills of liquid laundry detergent, to save plastic. The two brands Organic Foods stocks, Organic Larder and Sonnett, are both “triple-certified - you could eat the product”.  

The Organic Larder detergent will soon be delivered in 200-litre metal oil drums before being decanted into 20-litre containers in-store.

Customers can refill their bottles at least 30 times before they start to degrade, he says. Organic Larder costs Dh35.75 for one litre and Dh62 for 2.75 litres and refills will cost 15 to 20 per cent less, Mr El Accad says.

But while there are savings to be had, going green tends to come with upfront costs and extra work and planning. Are we ready to refill bottles rather than throw them away? “You have to change,” says Mr El Accad. “I can only make it available.”

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative 

Read part one: how cars came to the UAE

The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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Company name: baraka
Started: July 2020
Founders: Feras Jalbout and Kunal Taneja
Based: Dubai and Bahrain
Sector: FinTech
Initial investment: $150,000
Current staff: 12
Stage: Pre-seed capital raising of $1 million
Investors: Class 5 Global, FJ Labs, IMO Ventures, The Community Fund, VentureSouq, Fox Ventures, Dr Abdulla Elyas (private investment)

Sreesanth's India bowling career

Tests 27, Wickets 87, Average 37.59, Best 5-40

ODIs 53, Wickets 75, Average 33.44, Best 6-55

T20Is 10, Wickets 7, Average 41.14, Best 2-12

Updated: March 10, 2022, 9:42 AM