SEOUL -- Korea Aerospace Industries, the South Korean defense contractor and the country's sole aircraft manufacturer, will spend 2.2 trillion won ($1.87 billion) in the space industry over five years to capture burgeoning demand abroad.

The company, known better as KAI, has cultivated a relationship with countries in Southeast Asia and the Middle East through defense deals, and plans to secure contracts from such nations lacking launch capabilities to send satellites into space and manage associated telecommunication operations.

"In addition to

William Pesek is an award-winning Tokyo-based journalist and author of "Japanization: What the World Can Learn from Japan's Lost Decades."

If you think Facebook's Mark Zuckerberg is having a terrible October, spare a thought for Rodrigo Duterte and Narendra Modi.

The corporate nation-state Zuckerberg founded in a Harvard dorm room 17 years ago is essentially the internet homepage in the Philippines and India.

It has also morphed into the fuel enabling Philippine President Duterte and Indian Prime Minister Modi to drag backward

NEW YORK -- On Feb. 4, roughly two weeks into office, U.S. President Joe Biden ordered Secretary of Defense Lloyd Austin to lead a Global Posture Review of all American forces deployed overseas.

The aim was to make sure that the military's footprint fit the administration's foreign policy and national security priorities -- in other words, China. The review was widely expected to conclude around the summer, but deep into October, it is still underway inside the walls of the Pentagon.

The

TOKYO -- Japan will require permits for security-related technology transfers to international students in Japanese universities, Nikkei has learned.

Universities are currently taking less measures compared to companies, with about 40% of universities not undertaking identity checks and other requirements set by the government.

New rules to prevent the transfer of critical technologies outside of the country, such as to China, comes as Japan aims to strengthen its economic security. Japan's industry ministry is looking to revise notices regarding the operations of the Foreign Exchange Act

JAKARTA -- Top leaders from the Association of Southeast Asian Nations on Tuesday expressed dissatisfaction over the lack of progress toward resolving Myanmar's political turmoil, with their virtual summit marked by the absence of any representative from Naypyitaw.

Photos from the meeting showed a screen with nine ASEAN heads of state, with the bold text "Myanmar" in the spot where the country's representative should have been.

In light of the Myanmar military leadership's resistance to implementing an agreed-upon road map, ASEAN foreign ministers had

Lionel Barber is former editor of the Financial Times. He is author of "The Powerful and the Damned: Private Diaries in Turbulent Times."

For the men, and occasional woman, who run America's most powerful financial institutions, these are the best of times: blowout earnings in the last quarter, a surge in mergers and acquisitions, and lucrative trading thanks to volatility generated by an expected turn in the interest rate cycle.

Wall Street has also enjoyed a fair wind, nowhere more so than in China.

SEOUL -- Hyundai Motor said on Tuesday that a lack of computer chips for its vehicles will further disrupt production in the fourth quarter and into next year, casting a shadow over the South Korean car giant's global sales.

Hyundai, which forms the world's fifth-largest automaker in tandem with affiliate Kia Motors, said that sales of its cars tumbled 9.9% to 899,000 vehicles in the July-September period from a year ago, driven by sharp drops in the

SHIZUOKA, Japan -- On a nearly empty racetrack in the foothills of Mt. Fuji, a Tokyo-based drone startup unveiled its vision for the future of transport: a flying motorcycle able to hit speeds of up to 100kph.

In a scene straight out of a sci-fi film, the driver fired up the Xturismo, which rose several meters off the ground and cruised along the track for about a minute and a half. Reporters and guests -- all wearing earplugs against the deafening noise -

TOKYO -- Japanese motor maker Nidec on Tuesday reported a 30% increase on the year in operating profit for the six months through September despite headwinds brought by global supply chain disruptions.

The Kyoto-based company reported an operating profit of 90 billion yen ($704 million), compared with market expectations of 80 billion yen.

Six-month sales came to 910 billion yen, up 21%, versus market expectations of 800 billion yen.

Nidec is the world'