the question of a unified korea remained unanswered. the future of the souther anxious american. ♪♪ rip korea's plan for unifying korea was made known to the world on june 25, 1950 and it was by military invasion. as six divisions of north korea's people's army slammed into the republic of korea within three days they had seized the capitol city of stohl korea had suddenly become a cold war crisis. in our capital reaction was dramatic and swift. resident sherman immediately offered military assistance to help stem and repel north korean aggression. another voice that if united nations condemned north korea's aggression and in a series of emergency meetings called upon u.n. members to assist the republic of korea. united states was designated as the u.n. executive member nation to head and coordinate the u.n. military command. 20 member nations which were not responded to the u.s. request for military assistance. 90 days following north korea's invasion were grim. desperate times to build u.n. ground and air forces in size and firepower to match the scale of th

would not go to war to defend the south korea. so in june of 1950, armed with soviet equipment and aided by the chinese the north korea invaded south korea. as you can see from our map they stormed right across the board are for the south koreans were largely caught off guard and unprepared. the u.s. had military forces in japan under far eastern commander douglas macarthur. the problem was those troops and their units were badly under strain the troops were badly trained. in the equipment they had was carryovers from world war ii. wasn't that useful for them pretty quickly through over some forces. the saddest episodes with task force smith. i was a battalion commanded by a guy named charles smith a lieutenant colonel had extensive combat experience. smith occupied a position under soviet built tanks or white throat. one guy lieutenant ali connor fired a bazooka 22 rounds point blank and shoot soviet made tanks and they bounced off. needless to say that was disconcerting for the troops, the tanks pass-through and packets of them c

now south korea is a wealthy country, but it's actually been pretty slow in terms its vaccine rollout. less than half of south koreans have had their first dose of the vaccine, that compares to half of americans who are fully vaccinated. similarly, in australia, they, too, have seen a pretty slow rollout. >> if we keep this vaccination rate up, we will get to 6 million jabs by the end of august, and that will give us some opportunities to think about additional freedoms we can give to people in september and october. . >> reporter: 5 million people have been under lockdown for six weeks, but it hasn't been enough because of the highly-transmissible variant around the city. additional police have been sent in to try to enforce the lockdown after large and in some cases violent anti-lockdown protests, but now new wales is expanding that beyond sydney into other areas. >> so, as the delta variant spreads, more and more companies are requiring employees to get vaccinated. you can now add amtrak to that list. they said workers must be vaccinated by november 1st or submit to weekly testing.

this is the verizon of south korea.r that you are buying this business for 1/10 the price per subscriber. it is trading well below replacement costs and is trading at a single digit earnings multiple, despite the fact it has -- the margins. we think if -- makes the margins we see across the globe and silicon companies, the stock will go up three to four times. in the meantime, while we wait, this company has a 4% dividend yield. the opportunity cost is low. >> alyssa cochran, director of research. great to have you with us. breaking news when it comes to earnings, front and center in australia, we got numbers. surfside at -- we first have underlying profit at $354 million coming through from woodside. this comes against the backdrop of bhp and woodside entering that merger. bhp holders would hold 40% extra of woodside after that was announced. we started looking really to beef up oils and gas assets with bhp to merge its oil and gas business. potentially becoming one of the world's top energy producers. we continue to w

south korea is point the end restrictions that crick say. harm competition and jelly is piling on the pressure by floating reforms for how to tackle payment systems provided by the likes of apple and google. joining us now disgusted by the co host, an investigative journalist, ben swan, ben, what are the accusations against these apps? stores right? now, yeah, well the accusations are actually international, right. and these accusations have made by a lot of companies inside the united states, which is simply this, that apple, google in their phone place stores. so whether it's the apple app store or the google play store, really control and monopolize the ability for creators of apps to be able to sell those apps or charge those apps back to customers without taking enormous amounts of profits. when apple k, for instance, they've been accused of taking as much as 30 percent of everything that a user sells up through their app to a customer, right? the problem is there is no competition in that case, meaning that if you're going to sell an apples app store, you will pay them their gas

ministers and agreed with us and sent a military aircraft and flew us in from a military base in south korea to the military base in taiwan. we could not even tell the south koreans were going to taiwan good they would have -- it would have placed them in a bad position with the chinese. we were on the ground for three hours, never left the airport. that turned thing around in the country. the morale of the people in knowing they were not abandoned. even though it was just a few thousand, we are now over 4 million vaccines to taiwan. thailand we announced 1.5 million initially, another million is coming. all of those are desperately needed and welcomed. >> that must've been a remarkable three hours. >> it was. we got done with our day actinic look at night. we had the speaker of the -- we got done with our day at 10:00 at night. we had the speaker, we had a show, we were on a flight on the ground for first meeting in taiwan. it was well worth it. the people of taiwan deserved to know that america had not been ended them. -- abandon them. >> australia is in the crosshairs of the prc. especial

south korea is basically become _ the app store.korea is basically become the first - the app store. south korea is - basically become the first country to effectively take a really big swipe at the commissions charged by google and apple. which basically pass at all would allow small software developers pay directly for their content. this is a big move, this is kind of the start of trying to break the monopoly that these particular companies google and apple in particular have had. and us tech firms have been lobbying heavily to try and deal with this. this bill has been dubbed the anti—google bill. the numbers involved are astonishing which i'm having to read our stream because they are quite big figures. google take commission of about 230% of sales of digital goods through the app stores. and what's interesting is they, essentially the work that the south koreans are trying to do is to effectively start to break that monopoly was up there trying to look at those big numbers that are going through the books of those companies an

in particular, tourists from china and south korea, visit the restaurant. the young women who serve here mostly students from pyongyang and they live and sleep above the restaurant and are often not allowed to leave the premises for years. every evening, at the same time, they changed their costumes and get ready for the big show. ah, i the there are 130 such north korean restaurants worldwide. 3 of them income rodeo. they said to make several $1000000.00 a year, but the waitresses don't get paid for their work. the dollars flow directly into the regime secret coffins. no other country exploits its population systematically as north korea. north korean workers are deployed worldwide. even in the european union in poland. here we encounter north korean work brigades on a building site. they've been promised good wages and decent working conditions, only to be treated like slaves. in the evening after a 12 hour shift, the work is driven to their barracks. they are monitored around the clock by north korean state security. still one of them decides to talk one

and south korea. they will identify problem areas to focus on.stanley is stepping up vaccine requirements to provide documented proof of shots by october 1. all workers are required to be inoculated. almost 90% of morgan stanley employees have promised that they are vaccinated. shery: we are counting down to the start of trade in tokyo and seoul. we have already seen some of the key economic numbers out of japan with exports missing expectations and core machine orders coming in slightly better than estimates. we are watching japan's virus emergency which has been expanded to seven more prefectures and extended until september 12. we have a few earnings left to come this season including real estate investment trust japan excellent. in south korea, softbank and caret has become one of the nation's biggest startups, scoring at a 2.7 billion dollars valuation and we are looking at the entertainment industry. second-quarter operating profit that beat estimates. it was amiss for j y p -- a miss for jyp entertainment. sophie: citi keeping qantas on wa

we are also looking at south korea, movements in the currency.ng that a possible intervention, given the currency right now. stronger on the korean won, tap of 1%. to the earlier point, have a look at where we are in the 10 year. you have some of these key crosses, to kiwi dollar. we are waiting for them to explain the rate decision, erring on the cautious side. speaking with hsbc earlier. yvonne: why did you link? david: still thinking about rate hikes. yvonne: we are going to get some clarity on how covid, the delta variant is going to derail the outlook. plenty more in the next hour. minerals are a key want to watch, tencent earnings as well. stay with us. this is bloomberg. ♪ announcer: from the heart of where innovation, money, and power collide in silicon valley and beyond, this is "bloomberg technology" with emily chang.

south korea holding up.y thing will be if the delta variant can be somewhat contained from here, even if economies move away from the zero covid strategy. number two, it comes back to vaccination rates and vaccines. can the thresholds behave? can the critical mass of the population be inoculated? can the economies get on the escape path out of it? i would say right now, the downgrades are modest, but it is a question of where we go in the months ahead and heading into this year. haidi: our chief asia economics correspondent, enda curran. we are watching the regulatory risks in china. investors searching for clues about which industries might be next in president xi shipping's crackdown -- xi jinping's crackdowns. another question, why now? here to help us answer the question is john new. what exactly is driving the crackdown now instead of five or 10 years ago? >> there's a number of factors. one, the tension between the u.s. and china. there's much more divergence between ideologies. the democratic ideals,

one worry is what we saw in south korea is mimicked elsewhere.ave different traditions and i'm sure there's many laws that are not mimicked in the u.s. and europe one interesting thing is if the president does review and sign it into law in south korea, it would be interesting to see how south korea consumers react. people use these stores because, listen, they're reliable, efficient. it's very easy to use those payment systems. so, even if given the opportunity not to go through apple and google, maybe we'll find out >> we'll have to watch that develop. now, looking at china internet group, down almost 30% in the last three months as china's crackdown hampered names but watch online gaming company rising after reporting better than expected earnings revenue was in line with forecast the stock rebounding after falling yesterday amid the online gaming restrictions pod t cnese government we'll be right back. you packed a record 1.1 trillion transistors into this chip i invested in invesco qqq a fund that invests in the innovators of the nasdaq 100

turning to south korea, sk pharma a potential sale.o see the kospi snap a three day decline. a negative debut for this stock after a raise of about 3.8 billion dollars in its ipo. we did see companies lock up about two thirds of its institutional shares. south korea now seeing delayed vaccine deliveries. a staggered open in sydney this morning. we are seeing shares gained about .1%. we are watching the climate report and iron ore futures are under pressure. monday, the bloomberg commodity spot index notched the biggest loss in weeks. haidi: he has japan is one of his most preferred markets and is a beneficiary of the reopening trade. he is an equity strategist who joins us now. always great to have you. let's start with japan. do you expect to see parts of this market playing catch-up? >> absolutely. and good morning. i think it is the case around the world that if we look at what is happening in china, the u.s., and the developed world with the delta variant, we are still seeing the prospect for a lot of monetary policy and fiscal sup

shery: japan, south korea and australia opening now.ng pressure, so gains in early trading session, the nikkei, we see materials and health care stocks leading those gains. we saw that fourth monthly gain against the u.s. dollar. also feeling that upward pressure, the entire week given that we have bond options again this week. how shery: we are going to get pmi never sent a few minutes. real estate is feeling a little downside pressure. the korean won holding the 1151 level. we will switch the board to see what is happening in korea, the kospi 32 when i level up .5%. u.s. futures gain .4%. haidi: it seems the resumption of bias coming as a result of selling we have seen especially given by the chinese crackdown. front and center we are seeing here in australia watching after pay, one of the stocks to watch, it has risen 30% after agreeing for the offer to be bought out by square, trading at $125 versus the offer price. across a broader part of the market, the staggered open .3% higher in sydney. the rba meeting this tuesday, we expect

south korea is a - parallel. south korea is a completely different story.r that is very hostile, and backed by china. with artillery aimed at seoul, that reality hasn't changed. i think you can't make that analogy. to answer your question, there were a lot of things that went wrong going all the way back to the bush administration. we could have done this far better, but we didn't. that doesn't mean you keep troops for an undetermined period of time with no hope of a solution. so i think the president �*s right there, but what i think he isn't talking about is what is administration did in terms of the final pull—out. the botched operation to pull out the embassy and get people out.— and get people out. thank you for “oininu and get people out. thank you for joining us- — more now on the day's events at kabul airport, where american forces fired into the air to disperse crowds attempting to force their way onto departing planes. several people are reported to have been killed. american and british troops are engaged in evacuating their citizens, while the i

well, the bride has more from song south korea. since the start of this pandemic has specialized in this public private partnership approach in coming up with solutions . for example, in the early days being amongst the 1st countries in the world to mass produce testing kits. well, it's applied the same approach to the production of vaccines using some of its high production capacity to help the world's pharmaceutical giants, to produce many of their vaccine such as the astrazeneca, while at the same time, also producing other vaccines like the sputnik for the russians with this event that the presidential office, the blue house today, the president moon j in, along with other government officials and leaders of pharmaceutical companies here in south korea have really mapped out their vision of the future. that by 2025, south korea will emerge as one of the world's top 5 vaccine producers working more closely. for example, with companies in the us, in germany, and the u. k. not only to be a producer of vaccines, but also to be more

the vice chairman of samsung has been released from prison in south korea, or after being granted perot j. wylie was serving a 2 and a half year sentence for bribing. a friend of the former president over merger deal unclear yet if he can return to work. but critics say his release and reflect the culture of lenient. c for corporate balances on influential newspaper in nicaragua has accused the government of president, daniel ortega trying to hide the truth. this is after customs refused to release the prince as paper in ports forcing the suspension of its print edition from friday. it is a publication has been critical of the president has been cracking down on his opponents before seeking a 4th consecutive term in november's election. check the world whether next and then a greek tragedy. athens pledges billions in aid for the people who lost their homes and livelihoods in the fire, and had enough looking at why a record number of migrants were registered in the us mexico border loss. ah, it's another beautiful sunny day of 35000 feet. the weather sponsored by cattle airways booted wo

south korea posted more than 2000 new daily cases earlier in the week. it led to a plea from the government for people not to travel this upcoming holiday weekend. we do government journeyman court on that. if we don't stop corona virus won't stop . i would like to say to the public that we ask you to refrain from traveling to stay at home during this liberation day holiday. as many of the new cases are outside the heavily populated metropolitan soul area, officials are concerned that those returning to the city could bring cobit 19 with them. this week, the 1st of more than 1000000 rank refugees and bangladesh started to receive cove in 1900 vaccines. 20000 infections and 200 deaths have been recorded in the cox bizarre district location of the refugee camps. we came here with happiness in our heart. we have received a shot after coming here. it's good to see that they are treating everyone equally and managing to process lawfully the usually bustling streets of the philippine capital manila reduced to a trickle of traffic. only those with authorization

it will run in the u.s., australia and south korea.ll use the report as a way to study missing ins on the platform and identify trends and problem areas to focus on. that is the bloomberg business flash. francine: come up, ten crept not looking good from the -- 10 cent not looking good from the bottom line. this is bloomberg. >> there was an opportunity here prm create more value for sheryls -- shareholders. secondly, we give shareholders choice. recognizing they seize opportunities in oil and gas. others less so. this gives them a choice how they want to allocate their portfolio. >> the value operation for woodside is amazingly compelling. with this merger we will become a top 10 produce r and will have the cash flow, the balance sheet and the financial strength. francine: those were chief executives of bhp and woodside talking about their respective oil and gas units. let's get to first news. >> the situation at kabul airport appears calmer after mopped'ss the pratt scene when thousands attempted to crowd onto planes in the wake of t

pretty good numbers near south korea and japan. gest that there is some more slowdown ahead, even for the good performing economies. >> the good news was the exports for korea in the month of august. 34.9% year-over-year. that is usually a good sign for the region. what is the outlook for the region in the annual holiday shopping season? >> all the anecdotes suggest demand is very strong around the world for consumer made goods in asia. the problem is getting those goods to the market on time. who we know the supply chain logjam is continuing. it is driving up the cost of both the input materials to the finished product. it is fine to say we have a strong demand story globally but this is one of the areas economists are saying could trip up asia's economic recovery. it could spill over into next year and global recovery. >> thank you so much. global bond selling off after inflation data on the upside. some officials argued for phasing out stimulus. the u.s., japanese, aussie and new zealand bond yields are arising this morning. let'

south korea to an extent, but china, japan.ipos, it was certainly made chinese companies. whereas now, you are seeing many of the startups that have them growing in southeast asia or in india and even in south korea really come to the market. so it could be a rebalancing in terms of the weighting in regional benchmarks as well. kathleen: equity markets capital reporter julia fioretti. now the first word headlines. this company returned to profit in the second half. net profit rose 6.2 billion dollars, reversing a $3 billion from last year. they boosted oil profits, citing rising oil prices. it plans to increase to more than $16 billion. this company posted a full-year loss, more than the $125 million in net costs, due to facilities being closed on government orders. it also says the financial crimes regulator is likely to start civil proceedings due to a potential breach of money laundering rules. and this company will acquire another for about $10 billion. there was a 13% premium to the stock's closing price on friday. , we pa

lauren: captors are battling new covid-19 -- infection numbers reached new highs in south korea.n australia in the philippines have gone into lockdown. scott highly reports from bangkok. scott: from south korea onto australia, a surge of new covid-19 cases fueled by the highly infectious delta variant has government scrambling to respond. straley's capital camera entered a one-week lockdown. the city reported its first locally transmitted case in more than a year in the australian capital territory. >> this decision is the result of a positive covid-19 case in the territory. a case that has been infectious in the community. we also have positive water detections. scott: two of australia's largest cities are also seeing high infection rates, despite weeks of being locked down. for the first time in the pandemic, south korea posted more than 2000 new daily cases earlier in the week. it led to a plea from the government for people not to travel this upcoming holiday weekend. >> if we don't stop, coronavirus will not stop either. i would like to say to the public that we ask you to r

coming up, south korea passed the world's first bill curbing apple and google app store payment policies what does it mean? could the u.s. be next we'll discuss after the break. "techcheck" is just getting started. it's another day. and anything could happen. it could be the day you welcome 1,200 guests and all their devices. or it could be the day there's a cyberthreat. get ready for it all with an advanced network and managed services from comcast business. and get cybersecurity solutions that let you see everything on your network. plus an expert team looking ahead 24/7 to help prevent threats. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. >>> san jose courthouse as jury selection begins in the criminal case defense the theranos founder. we'll be live at the scene with scott cohen later on in the show don't miss that. m looking forward to hear how that's going certainly. >> we'll be watching that case closely. we'll take a gut check on apple. the stock rallying to a new all time high yesterday, notching its best day

get creative to retain eyeballs later inside the app store, apple and google facing regulation in south korea and here at home the profits sent, how they share them under scrutiny. >> we're keeping close watch on tropical storm ida and we'll be live on the ground in new orleans this hour all as stocks move to the upside, fresh intraday highs this morning for the s&p and nasdaq >> and that is where we begin at tech stocks and the market mike santoli is looking at how much is left in the tachknk for this rally >> plenty on the nasdaq side of things, on a long-termer term basis, the nasdaq and s&p up 20% year to date go back a year ago, the big faang stocks were making a very climactic peek that led to a 10% correction not seeing the same kind of trajectory but that is interesting here is that the -- both the nasdaq composite and fdn, faang index or faang etf, had a more normal run of it. meaning it had the regular pullbacks. there was a 10% pullback tech had a high single digit percentage decline in the spring that suggested if anything technology, software, faang stocks have perhaps been less

we got the latest trade figures from south korea from the flash numbers for the month so far. arly export saying that the demand will continue to hold up. we have covid cases weighing in on the outlook for korea at which has immediate reporting that they may seek to boost the 2022 budget by more than 8%. korean stocks are gaining ground. tech index up in the gates. the current currency is treating from the 1179 haiti handle it was flirting with last week. later, we will watch what is going on with the energy shares. and australia, several stocks are trading for a minimum. mining companies have beat estimates which is helping to keep it on course for the 11th straight month of gains -- months of gains. so far, this session, we are seeing it up by 2/10 of a percent while oil is steadying at $65 a barrel after notching the longest run of weekly losses since 2018. slightly firmer after breaking 650 last week. this will likely continue in the face of regulatory pressures. that you not see in existential crisis. it is business as usual for chinese stocks. a quick check on u.s. cash y

sometimes vice chairman's been released from prism in south korea up to been ground payroll, j y lee serving a 2 and a half years sentence for bribery critic say his release reflect the culture of lenient. the votes have been counted in zombie as presidential and parliamentary elections were president edgar longer seeking a controversial 3rd term. it is thought to be an extremely tight races. hanuman council reports on the suck. the more than 7000000 people will register to vote in them as presidential and parliamentary elections. there were long keys and the high turn out polling stations in the capital, tucker and other parts of the country in an election unless they will be very close to the high cost of living poverty and unemployment. a big concerns for many voters . we all want to be ready with breathing. this son, everything else to come under the houston port so that we should be head if you're not working it's quite difficult to cope with the standard of life now. yes, everything is become very expensive. so it's quite challenging. there are 16 presidential candidates, but t

on to other news and samsung's by the chairman's been released from prison in south korea after been granted parole. j y lee was serving a 2 and a half year sentence for bribing, a friend of the former president over a merger deal. not yet clear if he can actually return to work. but critics say he's released simply reflect the culture of lenient. see the corporate buffer i have cost too much concern to the people. i'm really sorry. the heard. i'm listening carefully to your warriors, criticism, concerns, and high expectations about me. i will do my best for you from robert kelly associates, associate professor of international relations. and the department of political science and diplomacy, it was on national university, he told us leads release is really part of a wider approach to white color crime. in south korea, the korean government has a habit of releasing corporate bosses who have been convicted of various crimes. some of that was actually being like physical salt and some, some of this isn't just white collar crime like, like least conviction but actual assault. and there'

the 19 cases due to the delta variance daily infection, numbers waged new heights in south korea this week. and most cities in australia and the philippines have gone into locked down. got hired la reports from bangkok, from south korea down to australia, a surge of new cobra, 1900 cases, fueled by the highly infectious delta. very, it has government scrambling to respond, australia's capital camera entered a one week lockdown. the city reported its 1st locally transmitted case in more than a year in the stallion capital territory, a c t. this decision is as the result of i positive cobit 19 case in the territory. a case has been infectious in the community. we also have positive for wastewater detections around the i say to 2 of australia's largest cities, sydney and melbourne are also seeing high infection rates despite weeks of being locked down for the 1st time in the pandemic, south korea posted more than 2000 new daily cases. earlier in the week, it led to a plea from the government for people not to travel this upcoming holiday weekend. would you government journeymen quote on

the south samsung's vice chairman has been released from prison in south korea. after being granted pro j y lee was $72.00 and a half sentenced bribery. local sources said a ton of fun has seized control of another 2 provincial capitals in the south of afghanistan, all of lush and candle. the government is not concerned will be the most significant gains for the on group since it's offensive begin. the u. s. u. k. are sending more than 3 and a half 1000 troops to cobble to help with the evacuation embassy staff, and local interpreters, state us state department says it's embassy will remain in the national envoys at talks in doha, have released the final statement, encouraging the taliban and the african government to build trust and accelerate the peace process. how much am june has more? after the conclusion of 3 days of african talks here in doha, a final statement was issued by the envoys from the us. copper, china, pakistan, and other countries in attendance. and it said that the peace process in afghanistan must be accelerated as a matter of great urgency. n

is part of a wide approach to white collar crime in south korea. the korean government has a habit of releasing corporate bosses who have been convicted of various crimes. some of that was actually being like physical salt and some, some of this isn't just white color crime like, like least conviction but actual assault. and there's been a fair amount of criticism of that. and this is sort of a part of a large debate about sort of whether not create very largest corporation or mega corporations that dominate the economy. that i have too much influence on, on politics. my own sense will be yet. i haven't been too much from the, from the current government. right. i mean, the president current president got in because the president of course is peach. right. and leave with great big ghana. i think the current president moon has been content to sort of allow that process to play out. right. he got what he wanted, if you will, politically, from this years ago. and i'm not really sure there's too much left to be gotten from sort of speeding up on the no