Yazılar

Trump and Xi advance TikTok talks, plan South Korea summit

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U.S. President Donald Trump and Chinese President Xi Jinping said they made progress toward a TikTok deal during their first phone call in three months, and agreed to meet face-to-face on October 31 in Gyeongju, South Korea, at the Asia-Pacific Economic Cooperation (APEC) forum.

Trump told reporters Xi had “approved the TikTok deal,” though China’s official statement stopped short, saying only that it respected company negotiations “based on market rules.” A final agreement remains elusive, with disputes over ownership, algorithm control, and congressional approval still unresolved.

Under pressure from Congress, ByteDance must divest TikTok’s U.S. assets by January 2025 or face a nationwide ban. Trump has delayed enforcement, citing concerns about angering TikTok’s 170 million American users and disrupting political communications. He hinted the U.S. may even take a multibillion-dollar broker’s fee for helping facilitate the deal.

The call also touched on trade, fentanyl exports, and the Russia-Ukraine war. Trump said Xi indicated he wanted the conflict “ended,” though no specifics emerged. Meanwhile, Trump’s sweeping tariff hikes against China remain in place, with rates at historic highs despite limited deals earlier this year that paused tit-for-tat escalation.

For Beijing, analysts say the dynamic is favorable: China projects patience while Washington seeks quick wins on TikTok and summit optics. Critics in the U.S. warn that leaving ByteDance’s algorithm under Chinese control could still allow Beijing to influence or surveil Americans. China dismisses those concerns as unfounded.

Both sides confirmed additional leader visits in 2025: Trump to Beijing early next year, and Xi to the U.S. later. But thorny issues — from tariffs to Taiwan and the South China Sea — remain unsettled, ensuring the rivalry continues beneath the cautious diplomatic thaw.

South Korea’s Toss Targets Global Expansion, Eyes Won-Based Stablecoin

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South Korean fintech unicorn Toss is preparing a major international expansion, starting with Australia, while also positioning itself to issue a won-based stablecoin once regulations are in place, CEO and founder Lee Seung-gun said on Tuesday.

Founded in 2015, Toss has grown to more than 30 million users in South Korea, showing that a startup can challenge traditional banks and brokers head-on. Lee, a dentist-turned-entrepreneur, said the company’s success at home can be replicated abroad.

“We proved in Korea that a startup can compete head-on with entrenched players. A similar model can work globally, especially in countries where users juggle multiple bank accounts or fintech apps. We want to bring them into one seamless experience,” Lee told Reuters.

Global push begins in Australia

  • Toss has established an Australian unit and aims to launch core services such as peer-to-peer money transfers by year-end.

  • Australia’s fragmented banking system and open-banking rules make it an attractive entry point.

  • Toss is reviewing other markets, with Singapore serving mainly as a regional hub rather than a retail market.

Stablecoin ambitions

Lee confirmed Toss’s intent to issue a digital won stablecoin, pending regulatory approval. South Korea’s government is drafting legislation this year to allow stablecoin issuance under strict oversight and consumer protections.

“We will issue and distribute won-based stablecoin – that I can say for sure,” Lee said, noting Toss is in regular talks with regulators to build the necessary infrastructure.

IPO plans

Toss is also preparing for a U.S. IPO in Q2 2026, targeting a valuation of $10–15 billion, according to earlier reports. If achieved, it would be the largest U.S. listing by a South Korean firm since 2021. Global funds see Toss as one of the few fintechs delivering on the super app model.

Lee emphasized that Toss’s long-term ambition is to become “a global internet company built on financial services”, not just another financial holding firm.

U.S. Considers Annual Chip Supply Approvals for Samsung and SK Hynix China Plants

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The United States is weighing a proposal to require Samsung Electronics and SK Hynix to seek annual approvals for shipping chipmaking equipment and supplies to their China-based factories, Bloomberg reported Monday, citing people familiar with the matter.

The plan, presented by the U.S. Commerce Department to Korean officials last week, would replace the current validated end user (VEU) designations that granted the chipmakers indefinite export authorizations. Those designations are set to expire at the end of 2025.

Under the draft proposal, Samsung and SK Hynix would need yearly approval for specific quantities of restricted tools and materials, adding regulatory steps but ensuring their Chinese fabs can keep operating. The companies are among the largest foreign chipmakers with plants in China, supplying memory chips vital to global electronics.

Reactions in Seoul were mixed—officials expressed relief that a framework for continued operations remains, but concern over the added bureaucratic burden and potential supply chain uncertainties.

The move comes against the backdrop of intensifying U.S.-China semiconductor tensions. Since 2022, Washington has imposed sweeping export controls to curb Beijing’s chip and AI capabilities. The Biden administration had granted waivers to Samsung, SK Hynix, and TSMC to soften the blow to allied companies, but the Trump administration has pushed for tighter oversight.

The situation is further complicated by political strain: Washington revoked prior waivers days after former South Korean President Lee Jae Myung—who advocated a more balanced U.S.-China stance—signed a defense and investment deal with Trump. Recent U.S. immigration raids on Korean firms’ American subsidiaries have also fueled friction.