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Future-proofing family businesses: Strategies for success across generations

Last month, our firm gathered family business leaders from various generations to share insights and explore strategies for navigating today’s rapidly evolving landscape. Family businesses remain a cornerstone of the global economy; in the Philippines, over half of publicly listed companies are backed by family offices. As these businesses diversify and increasingly invest in entrepreneurs and startups, their influence begins to extend beyond their own enterprises, creating a broader impact across various sectors.

As the keynote speaker during the forum, Dr. Peter Bartels, PwC Germany Partner and PwC Global Entrepreneurial and Private Business Leader, advised private and family businesses to prioritize three key areas in 2025: AI technology adoption, sustainability and climate innovation, and family capital.

AI is transforming industries, and businesses must leverage it to improve operations, enhance the customer experience and make informed decisions. Family businesses have a unique advantage in adopting AI due to the presence of NextGen members, whose agility and digital proficiency help seamlessly integrate AI into business practices.

Furthermore, sustainability and climate innovation should be central to a family business’s strategy. Stakeholders, including customers and investors, increasingly trust companies that demonstrate genuine commitment to these values. Mere claims of dedication to environmental, social and governance (ESG) practices or diversity, equity and inclusion (DEI) are insufficient; stakeholders seek tangible reports showing progress toward achieving sustainability goals.

Lastly, managing family capital effectively is more crucial than ever amid ongoing global geopolitical and economic pressures. The principle of diversification — avoiding concentration of assets in a single area — has never been more vital. Family enterprises should embrace diversification strategies, such as mergers and acquisitions (M&A), to mitigate risks across industries and regions.

In addition to focusing on these key priorities, we asked family business leaders at the event how they achieve success across generations. Here are some of the learnings they shared:

LESSON 1: EMBRACE THE INSIGHTS AND EXPERTISE OF NON-FAMILY MEMBERS WITHIN THE COMPANY.
The Bounty Fresh Group, which began as a modest venture by the Cheng family in the 1980s, has grown into the country’s leading poultry integrator. Despite being privately owned, the company has increasingly welcomed the expertise of external professionals across various business units and management levels to drive its strategic goals. Caroline Chung, a third-generation family member and the Assistant Vice-President for Business Planning, Analysis and M&A at Bounty, highlights the crucial role these external experts play in the company’s success. “Working with non-family members has been a journey over time. They have a different style and a different way of working. As the business has grown, we have to recognize that there are other skills, experiences and capabilities that other people offer that we really need,” Caroline shared.

For family businesses, it’s vital to acknowledge that while keeping family members involved is important, growth can be limited without the input of non-family professionals. Bringing in external talent with a range of experiences can introduce new perspectives that benefit the entire organization.

LESSON 2: FIND A SHARED OBJECTIVE THAT UNITES FAMILY MEMBERS DESPITE DIFFERENCES.
VMV Hypoallergenics was founded in Bogo, Cebu in 1979 by Dr. Vermen M. Verallo-Rowell, a dermatologist and dermatopathologist trained in the US. Today, her daughter, Laura Verallo de Bertotto, leads the company as CEO and Creative Director. Although Laura initially pursued other career paths and hadn’t intended to join the family business, her mother eventually encouraged her to become part of the team alongside her stepfather and sister. Laura reflected on the initial challenges they encountered due to varying personalities and approaches, and how they ultimately found a shared purpose that propelled VMV to greater success.

“My mother is a scientific researcher, but at the core of that is the desire to care for people — which spoke to me as an academic who believes in representation, empowerment and inclusivity. Our ‘why’ became to save the world’s skin, not just in the dermatological sense but also to save the world from harm. That cascaded to the rest of the company and united all of our people, strengthening the organization as a whole,” Laura said.

In family businesses, it’s not necessary for members to think alike or share the same preferences. What’s important is finding common ground and a shared vision that allows family members to work together towards a common goal, despite their differences.

LESSON 3: BE OPEN TO THE INSIGHTS OF THE YOUNGER GENERATION.
D&L Industries, Inc. (DNL), established by the Lao brothers in 1963, has evolved into the country’s leading chemical company, commanding significant market share across various industries. After being listed on the Philippine Stock Exchange in 2012, the Lao family has been vocal about future-proofing the business and overcoming the “third-generation curse,” which suggests that the third generation tends to destroy the business. In addition to emphasizing good governance and compliance, Alvin Lao, President and CEO of DNL, highlights the value of fresh ideas from the younger generation. “Senior members of the family business also need to listen to younger people. In our family, when it matters, people listen. In our organization, we have a culture of humility and accepting that we don’t know everything,” Alvin said.

We live in an exciting time where Generation X, Millennials and Generation Z are all working together within organizations. It’s essential for individuals to keep an open mind and appreciate the distinct insights and perspectives that each generation brings to the table.

TRANSFORM TO BUILD TRUST
The coming years will be pivotal for family businesses as many are transitioning leadership to the younger generation. In today’s world, gaining trust involves more than simply ensuring that family members receive adequate returns. Trust must also be cultivated among other stakeholders, including employees, investors, customers and the public. To succeed in this dynamic environment and maintain trust, family businesses should go beyond delivering excellent services and products by clearly communicating their purpose, committing to ESG principles and upholding transparency, thus building lasting relationships with all stakeholders.

The views or opinions expressed in this article are solely those of the author and do not necessarily represent those of Isla Lipana & Co. The content is for general information purposes only, and should not be used as a substitute for specific advice.

 

Trissy A. Rogacion is a partner at the Deals and Corporate Finance group of Isla Lipana & Co., a Philippine member firm of the PricewaterhouseCoopers global network.

karen.patricia.rogacion@pwc.com

Peso slips before Trump tariff announcement

BW FILE PHOTO

THE PESO slipped against the dollar on Wednesday, mostly moving sideways as markets braced for the Trump administration’s latest tariffs.

The local unit closed at P57.215 per dollar on Wednesday, inching down by half a centavo from its P57.21 finish on Monday, Bankers Association of the Philippines data showed. The market was closed on Tuesday for a holiday in observance of Eid’l Fitr.

The peso opened Wednesday’s session nearly flat at P57.20 against the dollar. It dropped to as low as P57.25, while its intraday best was at P57.15 versus the greenback.

Dollars exchanged went down to $1.07 billion on Wednesday from $1.18 billion on Monday.

“The dollar-peso closed slightly lower on cautious trading ahead of the announcement of reciprocal tariffs from the US,” a trader said in a phone interview.

“US President Trump’s team has not reached a firm decision on its tariff plan and is still hashing out options,” Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

The dollar was slightly stronger amid talks of a flat 20% global levy, Mr. Ricafort added.

For Thursday, the trader expects the peso to move between P57.10 and P57.50 per dollar, depending on the tariff announcement, while Mr. Ricafort said the local unit could range from P57.10 to P57.30.

The dollar firmed a touch and other currencies held in tight ranges on Wednesday as traders anxiously awaited details of US President Donald J. Trump’s plans for tariffs, which could upend the global trading system and shake financial markets, Reuters reported.

The euro last bought $1.0784 while sterling fetched $1.2907, both easing slightly ahead of a White House Rose Garden announcement scheduled for 2000 GMT that will likely see the imposition of steep new duties on US imports.

Mr. Trump has for weeks trumpeted April 2 as “Liberation Day,” and White House spokeswoman Karoline Leavitt said reciprocal tariffs on countries that impose duties on US goods would take effect immediately after Mr. Trump’s announcement.

Against the yen, the dollar rose very slightly to 149.70.

The Australian dollar was up 0.36% at $0.62301, recovering slightly from a fall at the start of the week.

Details about the size and scope of the trade barriers set to come into force remain unknown, but the Washington Post reported that Mr. Trump’s aides were considering a plan that would raise duties on products by about 20% from nearly every country, rather than targeting certain countries or products.

Worries about the impact of an escalating global trade war on the world’s largest economy and a slew of weaker-than-expected US data have stoked recession fears and in turn undermined the dollar this year.

The dollar rose marginally against a basket of currencies to 104.28 on Wednesday, though that comes after the greenback clocked a 3.1% fall in March, its worst monthly performance since November 2022. — Aaron Michael C. Sy with Reuters

Stocks rise as inflation bets boost rate cut hopes

REUTERS

PHILIPPINE STOCKS climbed on Wednesday amid expectations of slower March headline inflation, which could strengthen the case for a Bangko Sentral ng Pilipinas (BSP) rate cut next week.

The benchmark Philippine Stock Exchange index (PSEi) rose by 1.08% or 66.96 points to close at 6,247.68, while the broader all shares index increased by 0.74% or 27.24 points to 3,705.12.

Philippine financial markets were closed on Tuesday in observance of Eid’l Fitr.

“The market rose further amid expectations that inflation had remained cool last March, giving the Bangko Sentral ng Pilipinas more room to cut policy rates this April,” Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a Viber message.

The Philippine Statistics Authority will release March consumer price index (CPI) data on April 4 (Friday).

Headline inflation likely settled within 1.7% to 2.5% last month, the BSP said on Monday. If realized, this would be slower than the 3.7% inflation print in March 2024.

At the upper end of the BSP forecast, inflation likely accelerated from 2.1% in February.

The low end of the forecast showed inflation may have slowed below 2% for the first time since the 1.9% print in September 2024. It could also mark the slowest inflation since 1.6% in May 2020.

A BusinessWorld poll of 18 analysts conducted last week yielded a median estimate of 2% for the March CPI.

BSP Governor Eli M. Remolona, Jr. last week said there is a “good chance” that the Monetary Board will cut rates by 25 basis points at their April 10 meeting.

“Philippine shares traded in the green as the market saw mixed results after Eid’l Fitr. The US market continued to face pressure from tariff policies and weak economic data,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.

Almost all sectoral indices went up on Wednesday. Financials surged by 2.85% or 67.88 points to 2,442.37; mining and oil climbed by 1.58% or 150.08 points to 9,622.93; services increased by 1.19% or 23.67 points to 2,004.40; property rose by 0.47% or 10.68 points to 2,262.75; and holding firms went up by 0.39% or 20.09 points to 5,128.56.

Meanwhile, industrials went down by 0.37% or 33.08 points to 8,724.77.

“Monde Nissin Corp. was the top index gainer for the day, jumping 4.7% to P7.57. Jollibee Foods Corp. was at the bottom, falling 3.67% to P231.20,” Mr. Tantiangco said.

Value turnover rose to P6.06 billion on Wednesday with 1.31 billion shares traded from the P5.35 billion with 1.15 billion issues exchanged on Monday.

Advancers bested decliners, 110 versus 82, while 54 names closed unchanged.

Net foreign selling stood at P259.87 million on Wednesday, a reversal from the P249.68 million in net foreign buying recorded on Monday. — R.M.D. Ochave

Petro Gazz Angels gun for sweep of semis against Akari Chargers

PETRO GAZZ ANGELS — FACEBOOK.COM/PREMIERVOLLEYBALLLEAGUE

Games on Thursday
(Smart Araneta Coliseum)
4 p.m. – Akari vs Petro Gazz
6:30 p.m. – Choco Mucho vs Creamline

THERE ARE MANY WAYS Petro Gazz could get into the best-of-three Premier Volleyball League All-Filipino finals.

But expect the Angels to go through the fastest route, which is to hurdle the Akari Chargers in a duel set for Thursday that would also complete a three-game semifinal sweep at the Smart Araneta Coliseum.

Petro Gazz won its first two semis assignments at the expense of sister teams Creamline and Choco Mucho and another triumph at 4 p.m. over Akari would catapult the former straight to the finale on Tuesday at the Big Dome.

If it happens, the Angels would make a return finals trip since making it that far two years ago when they eventually lost to the eventual winners, the Cool Smashers.

Petro Gazz coach Koji Tsuzurabara stressed it won’t be a walk in the park beating Akari, which split its two semis games.

“Akari is also a strong team and their coach, he’s Japanese too,” he said referring to Akari mentor Taka Minowa.

Interestingly, the Angels could afford to lose and still find their way in the championship round in several scenarios including one where they lose and Choco Mucho ends up upsetting Creamline at 6:30 p.m.

Or if Petro Gazz falls and Creamline prevails, which would forge a three-way tie for first.

In that case, the worst thing that can happen to the Angels is play a do-or-die for the second and last championship ticket.

“We just need to stay calm, keep grounded and try to stay patient again,” said Petro Gazz star Brooke Van Sickle, who had a 17-point effort last time that she garnished with 12 digs and 22 excellent receptions.

Meanwhile, Akari, Creamline and Choco Mucho are still battling for that last berth.

League rules state that a two-way tie for second will be decided via a rubber match set for Saturday at the PhilSports Arena while a three-way tie will be broken first FIVB tiebreaker, and then playoff.

There’s one possibility that sets up a three-way tie for second if Petro Gazz and Choco Mucho win.

That means the squad with the worst FIVB tiebreak will be eliminated outright with the better two teams clashing for the last seat to the finals bus. — Joey Villar

Injured Rianne Malixi withdraws from Augusta National Women’s Amateur

RIANNE MALIXI — ANWAGOLF.COM

A BACK INJURY brought an abrupt end to Rianne Malaxi’s quest for glory at the prestigious Augusta National Women’s Amateur.

Ms. Malixi, the double USGA amateur champion, navigated four holes in Wednesday’s practice round at the Champions Retreat Golf Club when she felt a discomfort in her lower back.

This was the same issue that previously forced her to pull out of the Women’s Amateur Asia-Pacific Championship in Vietnam late last year.

The reigning US Women’s Amateur and US Girls’ Junior champion informed the Golf Channel that she felt “it was best to withdraw this week and fully recover rather than risk further injury.”

The world No. 4 amateur freshman hopes to be good to swing back to action by the time the US Women’s Open fires off on May 26.

Ms. Malixi, an incoming freshman at Duke University, was supposed to start her Augusta campaign Thursday (Manila time) in Group 4 alongside Meghan Ganne of the US and Spain’s Cayetana Fernandez Garcia-Poggio at Champions Retreat.

This week should have been her redemption tour in the prestigious 54-hole tournament after a missed-cut stint on debut last year dashed her dream of playing at the legendary Augusta National course for the final round. — Olmin Leyba

La Salle dominates Ateneo to keep No. 2 spot in UAAP Season 87 women’s volleyball tourney

DE LA SALLE LADY SPIKERS — UAAP/NICOLE HERNANDEZ

Games on Saturday
(Smart Araneta Coliseum)
9 a.m. – UST vs ADMU (men)
11 a.m. – DLSU vs UE (men)
1 p.m. – UST vs ADMU (women)
3 p.m. – DLSU vs UE (women)

FOR the 16th straight time, De La Salle University got the better of fierce rival Ateneo De Manila University in a 25-21, 25-17, 25-20 win to solidify hold of the No. 2 spot and press its twice-to-beat bid in the UAAP Season 87 women’s volleyball on Wednesday at the Smart Araneta Coliseum.

Angel Canino braved a neck injury scare last weekend and stood at the forefront of the assault anew, firing 16 points on 16 hits as the DLSU Lady Spikers needed only 75 minutes to clip the ADMU Blue Eagles’ wings fresh from three straight wins.

Shevana Laput (14), Amie Provido (9), Katrina del Castillo (8) and Alleiah Malaluan (7) threw in solid contributions as rookie setter Mikole Reyes dished out 19 sets to facilitate La Salle’s balanced attack. Libero Lyka May de Leon provided 11 digs and 12 receptions.

La Salle has now won six of its last seven games to jack up its slate at 7-3, creating slight distance from closest pursuers Far Eastern University (6-4) and University of Santo Tomas (5-4) while striking closer to reigning champion National University (9-1) in the heated race with four games to go.

“This is our goal from the start. Our goal is to get a grip of that second spot for the twice-to-beat incentives so we’re hoping to sustain this,” said coach Ramil de Jesus, whose wards have been unbeaten against Ateneo since 2017.

The Lady Spikers could have not done it without the former MVP Ms. Canino, who was quick to recover from neck issues following an accidental collision with teammate Ms. Laput last weekend that prompted her immediate hospitalization after a comeback win over Santo Tomas.

“I’m doing really well and I’m better. The doctors gave a go-signal so I just rested it and followed the necessary protocols,” said Ms. Canino, who delivered 27 points, 13 digs and 13 receptions in the Lady Spikers’ 15-25, 25-17, 24-26, 25-21, 16-14 win over the Golden Tigresses.

AC Miner and Lyann de Guzman tried to put up a stand with 13 and 10 points, respectively, but the Blue Eagles’ firepower still fell short against the mighty Lady Spikers to slide to 4-6.

In the men’s division, Santo Tomas (6-4) clobbered Adamson (2-8) while La Salle 6-4) tripped Ateneo (6-4), 21-25, 25-18, 21-25, 25-22, 27-25, to forge a three-way tie at third spot. — John Bryan Ulanday

El Nido hosts Red Bull Cliff Diving World Series

FACEBOOK.COM/REDBULLCLIFFDIVING

ALL BOATS lead to the majestic island of El Nido in Palawan for the second time around as the country’s top destination hosts the opener of the 16th Red Bull Cliff Diving World Series next week.

El Nido first hosted the world-class event in 2019 before its much-awaited return this year featuring 24 of the world’s best cliff divers aiming to open the season on April 11 to 13 in splash.

The series then troops to Polignano A Mare in Italy on June 28 to 29, Mostar in Bosnia and Herzegovina on Sept. 5 to 6 and Boston in the United States on Sept. 19 to 20.

A split of 12 men and 12 women entered the Red Bull tilt known for gravity-defying acts and jaw-dropping display of athleticism at one of the best islands in the world.

With a projected speed of 85 kilometers per hour, the men’s division will have a clearance height of 27 meters with the female divers jumping from 21 meters in the three-day tournament that will hop around the coves of Lagen Island and the renowned Small and Big Lagoons of the Miniloc Island.

Two of the participants in Olympian bronze medalist Oleksiy Prygorov of Ukraine and Filipina-Australian Xantheia Pennisi on Wednesday showed a glimpse of what the world-class event has to offer, sharing the excitement in their Philippine return and training with the Filipino divers.

Red Bull treated the Philippine diving team with a clinic at the New Clark City Aquatics Center led by Mr. Prygorov and Ms. Pennisi themselves to help in the country’s preparations for the 33rd Southeast Asian Games in Bangkok in December.

“I love coming back for my family and relatives here. I know the location as we’ve been here before. It’s a special place for me. It’s an honor to be able to represent both the Philippines and Australia,” said Ms. Pennisi, whose mother hails from Tarlac, in the event presser on Tuesday in Capas, Tarlac.

“I love warm weather so the Philippines is a special place for me. It’s in the Top 3 of my favorite spots in the world. The sun here is nice for diving so I’m excited,” said Mr. Prygorov.

Mr. Prygorov, 37, finished 11th in the 2019 El Nido leg while Ms. Pennisi, 26, placed seventh to make it a perfect opportunity for a sweet revenge against a mixture of returning and new divers from all over the world.

Great Britain’s Gary Hunt and Australia’s Rhiannan Iffland won the 2019 El Nido edition en route to the season championship and the prestigious King Kahekili, which will be up for grabs in the finale in Boston later this year. — John Bryan Ulanday

Casino Plus makes history with P102.5-million jackpot

The largest online Baccarat pay-out in Philippine history

Casino Plus has set a historic benchmark for the Philippine gaming industry by awarding a record-breaking P102,576,582.94 Baccarat jackpot shared among 11 lucky players. This landmark payout stands as the largest Baccarat prize ever awarded in the country, reinforcing Casino Plus’ leadership in the gaming sector.

This unprecedented payout not only marks a new chapter in Philippine gaming but also underscores Casino Plus’ market-leading position. According to one market observer, “Casino Plus has surpassed almost P3 billion in total jackpot payouts since early 2024—the highest among all casinos in the Philippines—clearly setting itself apart from competitors.”

Celebrating this historic event, Casino Plus hosted an exclusive press conference in Clark, attended by over 40 prominent media outlets and livestreamed across the nation. The event showcased the jackpot winners and introduced groundbreaking Baccarat enhancements that aim to position Casino Plus as where the biggest online jackpots in the Philippines are won.

Among the lucky winners was a player who, through sheer chance, turned a modest P100 bet into a surprising P7.5 million jackpot. Overwhelmed with emotion, she shared, “The first thing that came to mind was finally buying land for my mother and building our own home. We used to live with my aunt and even borrowed rice just to get by. This experience reminded me that luck can strike unexpectedly—and for that, I’m incredibly grateful.”

The biggest highlight of the night was a staggering P30 million jackpot won by another player who reflected, “At first, I thought it was a glitch. Casino Plus showed me that gaming is really for everyone—it’s about the thrill, the fun, and the unexpected moments that come with every spin.”

These stories reflect the excitement and unpredictability of games of chance—where outcomes are never guaranteed and wins come from luck, not skill. Casino Plus reinforces that online gaming is a form of entertainment, never a financial strategy or livelihood. It strongly advocates responsible gaming, where fun and self-control go hand in hand.

Jackpot growth

For every bet wagered on side bets, a portion of that bet contributes to the jackpot pool. As more players join, the jackpot grows in real time and can be randomly triggered during any eligible round—regardless of bet amount.

The recent P102.5 million jackpot, shared among 11 lucky winners, proves that even a P25 bet could qualify for the next big win. With jackpots growing fast and striking unexpectedly, every round could be the one.

Upcoming Features, exclusive VIP experiences

With jackpots continually reaching new heights, Casino Plus has also focused on significantly upgrading the overall gaming experience. The platform will soon introduce a series of innovative Baccarat features to deliver even more exciting and strategic possibilities to players.

  • VIP Private Tables: Soon-to-be-launched premium, invite-only tables featuring private dealers, customizable betting limits, exclusive VIP rooms, and a mic chat support feature with the dealer.
  • Good Trends: An advanced, trend-based analytical tool offering real-time gameplay winning strategy insights.
  • Multi-Table Betting Mode: Allows players to engage simultaneously with multiple live Baccarat tables from a single screen, enhancing strategic betting opportunities and excitement.

Casino Plus announced exclusive VIP events dedicated solely to Baccarat enthusiasts, offering prestige-driven experiences and unmatched privileges tailored to reward player loyalty and status.

Pushing boundaries

“This unprecedented P102 million Baccarat jackpot is a testament to our commitment to transparency, fairness, and continuous innovation,” said Evan Spytma, CEO of Casino Plus. “It reflects our vision of becoming the go-to platform for the biggest online jackpots in the Philippines.”

Casino Plus is a premier online gaming platform offering a wide variety of exciting games, including live Baccarat, the first live online Color Game in the Philippines, and many more. Known for its user-friendly interface, secure and responsible gaming environment, and dedicated customer support, Casino Plus remains focused on delivering thrilling yet safe gaming experiences as it works toward setting the benchmark for online jackpots in the country.

Stay connected and never miss out on the latest updates or exclusive offers—just search “Casino Plus” on Google to find the official website.

 


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Korea’s acting president urges calm ahead of impeachment ruling

ACTING South Korean President and Prime Minister Han Duck-soo delivers an address to the nation at the government complex in Seoul, South Korea, Dec. 14, 2024. — YONHAP VIA REUTERS

SEOUL — South Korea’s interim leader called on the nation on Wednesday to calmly accept the decision from the Constitutional Court on the impeachment of President Yoon Suk Yeol, as police ramped up security around the court ahead of the ruling on April 4.

At a ministerial meeting on safety ahead of the ruling, acting President Han Duck-soo said he “strongly asked” politicians not to make any comments that could incite violence.

“The government will not tolerate any illegal or violent acts. No matter what decision is made, we must accept the results calmly based on the rule of law,” Mr. Han said.

“If we can become one again with your strength and wisdom, we can overcome this crisis of confusion and conflicts,” he said.

The Constitutional Court, which is reviewing Mr. Yoon’s impeachment over the shock martial law order, said it will announce its decision on whether to remove him from office permanently or reinstate him on Friday, April 4.

Mr. Yoon was impeached by parliament on Dec. 14 after being accused of violating his constitutional duty by declaring martial law in early December with no justifiable grounds.

If the court rules to oust him, a new presidential election must be held within 60 days.

South Korean police have beefed up security in areas around the court, preparing to deploy all forces from midnight into the ruling day on Friday.

The acting chief for the national police force, Lee Ho-young, said the area around the court would be turned into a “vacuum state” to restrict access and cordon off pro-and anti-Yoon rallies to prevent any potential clashes.

Vowing to act sternly against any violence, Mr. Lee said police will arrest those who vandalize facilities, threaten justices or assault police officers.

In January, hundreds of Mr. Yoon supporters stormed a court building after his detention was extended, smashing windows and breaking inside.

Han has directed police to step up security for constitutional court justices.

Bracing for big rallies and a heavy police presence on the ruling day, foreign embassies have issued alerts calling for extra caution.

The US embassy in Seoul said on Wednesday that it would cancel routine consular operations like visa interviews on the afternoon of April 3 and all day on April 4. The Chinese embassy has told its nationals to stay away from large political protests and not to participate in those rallies. — Reuters

Myanmar junta should widen access for earthquake rescuers, aid and rights groups say

Commuters drive past a building that collapsed, in the aftermath of a strong earthquake, in Mandalay, Myanmar, March 30, 2025. — REUTERS

BANGKOK — Myanmar’s ruling junta should free up movement by international aid workers to help survivors of a devastating earthquake, even in areas controlled by groups battling it, aid and human rights groups said, as the death toll looks set to cross 3,000.

The military has struggled to run Myanmar since overthrowing the elected civilian government of Nobel laureate Aung San Suu Kyi in 2021, reducing to tatters the economy and basic services including healthcare.

With thousands injured and infrastructure crippled following Friday’s quake of magnitude 7.7, regional authorities were struggling to cope and desperately needed support, the groups said.

“The situation remains critical, with disrupted communications and road access hampering response efforts, particularly in Sagaing,” the United Nations Office for Project Services (UNOPS) said, referring to one hard-hit area.

More than 28 million people live in the six regions affected by the quake, it added in a statement, saying it had $12 million in emergency funding for food, shelter, water, sanitation, mental health support and other services.

China’s official Xinhua news agency said the death toll rose to 2,886 on Wednesday, with 4,639 injured, citing the junta.

The rural parts of hard-hit Sagaing were mostly under the control of armed resistance groups fighting the military government, the International Crisis Group said.

“They will be among the most challenging for aid agencies to reach, given regime restrictions, a complex configuration of local administrations and control by armed resistance groups, and the persistent conflict,” it added in a statement.

Even before the quake, the ICG said, information had been hard to gather from such areas, because of a junta blackout of internet and mobile phone networks as part of the conflict. The military has dismissed as misinformation accusations that it committed widespread atrocities as it fought against a multi-pronged rebellion that followed the coup.

UNFETTERED ACCESS
Human Rights Watch urged the junta to allow unfettered access for humanitarian aid and lift curbs impeding aid agencies, saying donors should channel aid through independent groups rather than only junta authorities.

“Myanmar’s junta cannot be trusted to respond to a disaster of this scale,” Bryony Lau, deputy Asia director at Human Rights Watch, said in a report.

“Concerned governments and international agencies need to press the junta to allow full and immediate access to survivors, wherever they are.”

Australia announced a further A$6.5 million ($4.1 million) in humanitarian support for Myanmar, supplied “through thoroughly vetted international and local partners.”

In a statement on Wednesday, Foreign Minister Penny Wong said, “We take proactive steps to ensure our assistance does not legitimize the military regime in Myanmar.”

The military council has rejected requests from international journalists to cover the quake devastation, citing the lack of water, electricity and hotels.

In neighboring Thailand, the death toll from the quake rose to 22 on Wednesday, with hundreds of buildings damaged.

Rescuers scoured for survivors in the rubble of a collapsed skyscraper under construction in the capital Bangkok, where the death toll is 15, with 72 missing.

The government is investigating the collapse and initial tests showed some steel samples from the site were substandard. — Reuters

China carries out live fire drills in East China Sea in escalation of Taiwan exercises

CHESS PIECES are seen in front of displayed China and Taiwan’s flags in this illustration taken Jan. 25, 2022. — REUTERS

BEIJING/TAIPEI — China’s military held long-range live-fire drills in the East China Sea on Wednesday in an escalation of ongoing drills around Taiwan, saying it was practicing precision strikes on port and energy facilities but with no details on the exact location.

The exercises follow a rise in Chinese rhetoric against Taiwan President Lai Ching-te, who China called a “parasite” on Tuesday, and come on the heels of US Defense Secretary Pete Hegseth’s Asia visit, during which he repeatedly criticized Beijing.

China, which views democratically governed Taiwan as its own territory, has repeatedly denounced Mr. Lai as a “separatist.” Mr. Lai, who won election and took office last year, rejects Beijing’s sovereignty claims and says only Taiwan’s people can decide their future.

China’s Eastern Theatre Command said that on Wednesday as part of the Strait Thunder-2025A exercise its ground forces had conducted long-range live-fire drills into the waters of the East China Sea, though it did not give an exact location.

“The drills involve precision strikes on simulated targets of key ports and energy facilities, and have achieved desired effects,” it said, without elaborating.

Taiwan’s benchmark stock index briefly slipped into the red after the announcement, before recovering its losses.

China’s Maritime Safety Administration announced late Tuesday a closed zone for shipping due to military drills until Thursday night in an area off the north part of the eastern province of Zhejiang, more than 500 km (310 miles) from Taiwan.

A senior Taiwan defense official told Reuters that was outside Taiwan’s “response zone.”

China’s military published a video it said was of the live fire drills that showed rockets, rather than ballistic missiles, being launched and hitting targets on land, and an animation of explosions over Taiwanese cities including Tainan, Hualien and Taichung, all home to military bases and ports.

The words “Control energy corridors, disrupt supply routes, block clandestine routes to docks” then appear on the screen.

Taiwan has denounced China for holding the drills.

A senior Taiwan security official told Reuters there were more than 10 Chinese warships in Taiwan’s “response zone” on Wednesday morning, and that China’s coast guard was participating with “harassment” drills.

Taiwan’s defense ministry, detailing China’s movements over the past 24 hours on Wednesday morning, said 76 aircraft and 15 warships were involved.

China’s recent pressure against Taiwan also included a call last week for people to e-mail reports about separatist activity.

Chiu Chui-cheng, head of Taiwan’s China-policy making Mainland Affairs Council minister, said that given the rising risk of visiting China, people should carefully consider whether they need to go, including to Hong Kong and Macau.

WAR GAMES
China had not formally named Tuesday’s drills. China called two rounds of major war games last year around the island Joint Sword-2024A and Joint Sword-2024B.

China’s widely read Global Times, published by the ruling Communist Party’s official People’s Daily, said advanced equipment had been used, pointing to pictures from the military showing YJ-21 air-launched ballistic missiles slung under H-6K bombers.

The H-6K is an extended-range strike aircraft, while the YJ-21 is an advanced anti-ship weapon. H-6 aircraft, some of which are capable of carrying nuclear weapons, have been involved in past drills around Taiwan, and also spotted over the disputed South China Sea.

Previous Chinese war games have also practiced precision strikes and blockading the island.

Taiwan has not reported any travel disruptions because of the drills. Taiwan’s state refiner, CPC Corp., told Reuters that liquefied natural gas imports had been unaffected.

The United States, Taiwan’s most important international backer and main arms supplier despite the lack of formal diplomatic ties, condemned the exercises.

“Once again, China’s aggressive military activities and rhetoric toward Taiwan only serve to exacerbate tensions and put the region’s security and the world’s prosperity at risk,” the US State Department said in a statement.

Japan and the European Union (EU) also expressed concern.

“The EU has a direct interest in the preservation of the status quo in the Taiwan Strait. We oppose any unilateral actions that change the status quo by force or coercion,” an EU spokesperson said.

Taiwan has lived under the threat of Chinese invasion since 1949 when the defeated Republic of China government fled to the island after losing a civil war with Mao Zedong’s communists, though the two sides have not exchanged fire in anger for decades. — Reuters

Buffeted by Trump, WTO hunkers down to plot future

THE World Trade Organization building is seen in Geneva, Switzerland, July 15, 2021. — REUTERS

GENEVA — From its sleek headquarters on the shores of Lake Geneva, the World Trade Organization (WTO) hopes to quietly ride out the aftershocks of Trump administration tariffs whose protectionist intent runs in the face of its free-trade mandate.

For three decades the WTO has worked to maintain a rules-based and obstacle-free trading system as a motor of the global economy. It says the 5.8% average annual increase in trade it has overseen has created jobs and raised living standards.

But now the US determination to double down on tariffs risks sidelining the organization and its ability to regulate trade, enforce rules and negotiate new ones. In a direct blow to the body, Washington has already decided to pause its funding.

Reuters spoke to WTO Director-General Ngozi Okonjo-Iweala and a dozen serving or former officials and delegates to the WTO, who depicted an organization worried about what the future holds under Mr. Trump, but set on continuing its work in the hope that more orderly times eventually return.

“(Members) are saying to me: ‘Yes we are concerned, but at the same time we’re using the system, and we want to continue using it’,” Ms. Okonjo-Iweala said.

“I’m telling you that the bedrock of trade is here and it’s not going anywhere. This is what guarantees stability, predictability, trust, any word you want to use, and members know it – including the US,” she said, citing agreements that govern patents, food safety and the value of goods for customs.

Ms. Okonjo-Iweala said the WTO administers just over 75% of global trade, down from around 80% due to recent tariffs, and continues to attract new membership applications.

The current alarm follows years of paralysis in the WTO’s top dispute settlement arm, the Appellate Body, due to the US blocking new judge appointments during Mr. Trump’s first term, which was not remedied under former President Joe Biden.

CONTINUING TO COPE
For now, there is no obvious sign of upheaval at the WTO’s headquarters, whose modern facilities stand in contrast to more run-down UN institutions nearby.

Black Mercedes saloons with diplomatic license plates linger outside and besuited delegates huddle in small groups in its sunlit atrium. The spacious offices once occupied by judges of its Appellate Body have been taken over by other staff.

Trump officials view the WTO as a body that has enabled China to get an unfair export advantage via massive subsidies without making the country open up to foreign businesses — a criticism the WTO rejects.

One WTO staffer said people were “nervous” about its future but not currently fearful for their jobs. Asked about possible cuts, Ms. Okonjo-Iweala said: “We are making our plans on how to continue to cope. I’m not the type who will let my staff find out from the newspaper what I’m planning.”

Indeed, those staff providing support to the first tier of the WTO dispute system — which remains functional but cannot act on appeals — have seen their workload go up since Mr. Trump’s return, with five disputes filed since January.

“The press depicts a picture that the whole WTO system is falling apart, which, in fact, it is not”, said Thomas Cottier, an arbitrator at the Multi-Party Interim Appeal Arbitration Arrangement (MPIA), a surrogate for the WTO appeals court.

The WTO was set up in 1995 as a successor to the General Agreement on Tariffs and Trade (GATT) to create a better framework for the exchange of goods.

Now worth over $30 trillion, global trade grew briskly following the collapse of the Soviet Union and China’s entry into the WTO in 2001. As a proportion of global GDP, trade leapt from 38% in 1989 to 61% in 2008 when the global financial crisis bit, World Bank data show. Since then it has seesawed.

Still, when Ms. Okonjo-Iweala in February suggested an event to mark the WTO’s 30th anniversary, the US delegate raised budgetary concerns and urged her to make it an occasion for “careful reflection”, meeting transcripts showed.

Ms. Okonjo-Iweala took note and pared back the event, she said. The April 10 event will be members-only and the costs of a reception will be borne by Switzerland.

Asked about the views of the body at 30, a US Trade Representative spokesperson pointed to a report her office published in March listing how the WTO had failed to fulfil its objectives.

WTO delegates are cautious about prospects for new global agreements to reduce trade barriers in the current environment, with all 166 members having to agree by consensus. One silver lining is that a 2022 deal to curb fishing subsidies could soon take effect, with just 17 more ratifications needed.

WTO staff comfort themselves that the Trump administration, which quickly announced its plan to quit the World Health Organization, has not so far said it will leave the trade body.

Looking further into the future, others say the fate of the WTO and the free trade it defends is ultimately down to its members, in particular open economies such as Europe’s.

“It can survive this if the non-US WTO members agree to remain committed to the obligations they’ve made, and decide they can run the system without the US,” Pascal Lamy, who was director-general of the WTO from 2005 to 2013, told Reuters. — Reuters