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Budget by Hong Kong SAR’s Financial Secretary: Accelerating Development through Reform and Innovation

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HONG KONG SAR – Media OutReach Newswire – 26 February 2025 – Paul Chan, Financial Secretary of the Hong Kong Special Administrative Region unveiled his 2025-26 Budget today (February 26). He noted that while geopolitical situation might bring risks, technology reform and artificial intelligence (AI) development are remoulding the global landscape, leading to the emergence of new industries, new forms of business, new products and new services. He stressed that Hong Kong must seize the opportunity to make the most out of this critical window to speed up development, establishing the new before abolishing the old. He also emphasised that transformation and innovation will lead the way into the future, and the Government is poised to fast-track the high-quality development of Hong Kong’s economy.

The Budget presents a series of measures aimed at accelerating the cultivation of new quality productive forces. On innovation and technology (I&T), the Government will promote Hong Kong into an international exchange and co-operation hub for the AI industry. Through frontier research and real-world application, the Government will endeavour to develop AI as a core industry and empower traditional industries in their upgrading and transformation. To spearhead and support Hong Kong’s innovative research and development as well as industrial application of AI, the Government will establish the Hong Kong AI Research and Development Institute and launch the Pilot Manufacturing and Production Line Upgrade Support Scheme (Manufacturing+). On finance, the Government will continue to take forward reforms to the listing regime, host the Hong Kong Global Financial and Industry Summit, and formulate a plan this year on promoting gold market development.

Hong Kong SAR’s Financial Secretary Paul Chan delivers the 2025-26 Budget in the Legislative Council.

To seize the opportunities brought about by the rapid advancement of innovation and technology, the Budget highlights the need to accelerate the development of the Northern Metropolis, which is an investment in Hong Kong’s future. The Government will continue to accord priority to providing resources for this initiative, which primarily includes providing large tracts of I&T land at the Hong Kong Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone, together with San Tin Technopole; adopting an innovative mindset in piloting “large-scale land disposal”; developing a data facility cluster at Sandy Ridge; as well as identifying suitable sites in the Northern Metropolis for the construction of conference and exhibition facilities.

On the promotion of tourism, funding will be allocated to pursue the concept of “tourism is everywhere” and implement the Development Blueprint for Hong Kong’s Tourism Industry 2.0. A study will be conducted on the development of the waterfront and former sites to the south of the Hung Hom Station in Kowloon into a new harbourfront landmark in Kowloon, including a yacht club.

Regarding land supply, Mr Chan announced that the Government will not roll out any commercial site for sale in the coming year in view of the high vacancy rates of offices in recent years to allow the market to absorb the existing supply. The Government will also consider rezoning some of the commercial sites into residential use and allowing greater flexibility of land use.

The Budget presents a series of measures aimed at accelerating the cultivation of new quality productive forces.
The Budget presents a series of measures aimed at accelerating the cultivation of new quality productive forces.

Mr Chan proposed a reinforced version of the fiscal consolidation programme to focus on strictly controlling government expenditure, supplemented by increasing revenue, to restore fiscal balance in the Operating Account, in a planned and progressive manner, within the current term of the Government. The Government will also deliver more efficient public services to citizens through leveraging technology, streamlining processes and driving the digital transformation of public services. Mr Chan said he will uphold the “user pays” and the “affordable users pay” principles as far as practicable while increasing revenue, including increasing the air passenger departure tax, and reviewing the tolls of government tunnels and trunk roads. The Government will suitably expand the size of bond issuance on the premise of maintaining healthy public finances and use the funds raised on infrastructure works in a proper and flexible manner to invest in Hong Kong’s future and create value for society.

More information about the 2025-26 Budget is available from www.budget.gov.hk.

Hashtag: #hongkong #brandhongkong #asiasworldcity #budget





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Industry expert Jason Gerlis has been appointed as the Chief Revenue Officer at GoGlobal

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TOKYO, JAPAN – Media OutReach Newswire – 11 June 2026 – Industry expert Jason Gerlis has been appointed as the Chief Revenue Officer at GoGlobal – the global expansion business – bolstering the leadership team’s strength and depth at a time of accelerated growth.

With more than 15 years’ experience in helping businesses to scale internationally, his role will be to drive revenue growth at GoGlobal, align this to delivery excellence and add long-term value to those companies looking to expand and operate overseas.

“I’m delighted to welcome Jason into the fold,” states Jeremy Wastall, CEO at GoGlobal. “His extensive industry knowledge and global corporate services background support our strategy to deliver best‑in‑class business expansion and operational solutions to clients looking to enter new markets compliantly, and at speed.”

His appointment is also in-line with the company’s aim to build a business where cultural fit and mindset are just as important as experience.

“Alongside his impressive experience, Jason’s approach to leadership aligns with our brand values. I have full confidence in his ability to create a world-class environment where his teams will grow and excel,” adds Jeremy.

The move follows a series of recent senior hires and strategic investments designed to enhance GoGlobal’s ambitious growth plans, which include greater geographic reach, deeper technology capabilities and the continued development of market-winning solutions for clients.

Independence and long‑term focus

Explaining what drew him to GoGlobal, Jason points to the company’s independence and investment strategy.

“GoGlobal’s independence is a real strength,” he states. “It gives the business the freedom to invest in what genuinely matters to clients and focus on building sustainable, future growth. That long‑term perspective leads to better client outcomes, stronger partnerships and a more engaged, motivated workforce.”

Jason also highlights the company’s culture which is deeply grounded in servicing clients’ needs as a reason to join the business. He notes: “Understanding, consistency, collaboration and responsiveness are at the foundation of GoGlobal’s approach to client service, all of which resonate with me.

“And it’s these values and business ethics that truly set GoGlobal apart,” he concludes.

Strengthening global networks

Based in Charlotte, USA, Jason will spend his first months in the role engaging closely with GoGlobal’s global clients and partner ecosystem, while helping shape the company’s long‑term commercial strategy.

“I’m excited to work with clients across the full spectrum — from fast‑growing start‑ups and venture / private equity‑backed businesses to large multinationals — as we continue to build GoGlobal’s future roadmap,” he states.

Prior to joining GoGlobal, Jason spent five years as Global Head of Corporate Services at Ocorian and held several senior leadership roles at TMF Group over seven years, including Global Head of Consulting and Regional Director for North America and the Caribbean.

Hashtag: #GoGlobal



Wechat: GoGlobal环瑀

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GoGlobal

GoGlobal – the global expansion business – helps companies set up and manage global operations compliantly and confidently. By combining global expertise with local execution, GoGlobal supports market entry, M&A activity and vendor consolidation through a single point of accountability.

Founded eight years ago in 2018, GoGlobal has grown from a startup into a fully decentralized global organization, supporting thousands of clients with their own growth stories.

It now has over 450 internal employees, operating across 85+ countries, and has enabled more than 1,000 clients to establish and manage their global operations across 145 markets.

Services include entity setup, compliance and management; accounting and tax services; HR and payroll support; Employer of Record (EOR); and Independent Contractor Solutions (ICS).

GoGlobal is headquartered in Tokyo but the leadership and operational teams are worldwide, enabling seamless support across time zones.

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Korean Liquor (K-SUUL), Raises Its First Flag for Globalization on Asia’s Largest Stage

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“K-SUUL Pavilion” to Open for the First Time at the HKCEC on May 26-28

HONG KONG SAR – Media OutReach Newswire – 10 June 2026 – The National Tax Service of Korea (Commissioner: Lim Kwang-hyun), for the first time, opened the “K-SUUL Pavilion” at Vinexpo Asia[1], which was held for three days from May 26 to 28 at the Hong Kong Convention and Exhibition Centre (HKCEC).

[Photo] Korean Liquor (K-SUUL) Raises Its First Flag for Globalization on Asias Largest Stage

The opening of the “K-SUUL Pavilion” was served as a key milestone in raising the global profile of Korean alcoholic beverages and expanding overseas exports.

At the inaugural “K-SUUL AWARDS” held by National Tax Service of Korea last December, 175 small and medium-sized liquor producers from across Korea submitted a total of 366 products. Following document screening and blind testing, 12 products were selected.

The award-winning liquors, selected through a fair judging process with the participation of Korean citizens, was introduced to the global market through this exhibition, marking their first step toward overseas expansion.

The “K-SUUL Pavilion” was operated through cooperation between the National Tax Service of Korea and the liquor industry and association (the Korea Alcohol and Liquor Industry Association). It was designed as an integrated promotional platform to strengthen the export competitiveness of Korean alcoholic beverages and develop overseas sales channels.

The “K-SUUL Pavilion” was operated with a total of 16 booths (display and tasting booths), and 12 companies — including winners of the K-SUUL AWARDS — participated to hold consultations with overseas buyers.

Participating companies ranged from traditional liquor breweries to regional soju producers and major liquor companies, showcasing the diverse spectrum of Korea’s alcoholic beverage industry on a single stage.

In addition to the booths operated by the 12 participating companies, a dedicated booth was set up exclusively to showcase the award-winning liquors, further highlighting the significance of the K-SUUL AWARDS.

At the venue, promotional videos of the award-winning liquors were screened, while English-language brochures and souvenirs were distributed to attract local buyers and visitors to raise awareness of Korean alcoholic beverages.

In addition, meetings with the organizers of Vinexpo Asia, overseas buyers, and distribution industry officials were also held to identify rapidly changing global liquor market trends and assess the overseas expansion potential of Korean alcoholic beverages.

Han Yeong-seok Fermentation Research Institute expressed gratitude for being given the opportunity to participate in the exhibition, saying, “It was meaningful to showcase our award-winning liquor, ‘Dohan Cheongmyeongju,’ on the same stage as liquors from around the world through this exhibition. We did our best to promote Korea’s unique fermentation culture and the value of Korean liquor to the world.”

Going forward, the National Tax Service of Korea will continue to enhance the substance of the K-SUUL AWARDS, continuously discover outstanding liquors from promising small and medium-sized enterprises, and will actively support the globalization of Korean liquor (K-SUUL) by promoting it both domestically and internationally and helping these businesses expand their sales channels.


[1] Vinexpo Asia is Asia’s largest B2B wine and spirits exhibition, attracting approximately 9,000 industry professionals from 60 countries last year.

Hashtag: #K-SUUL

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YesAsia Holdings Advances Dual-Engine Strategy with First YesStyle Concept Store in the US

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HONG KONG SAR – Media OutReach Newswire – 10 June 2026 – YesStyle, the global online beauty retailer under YesAsia Holdings Limited (“YesAsia Holdings”, together with its subsidiaries, the “Group”) (02209.HK), has announced the launch of its new physical retail store in the US. Located on the main level of Great Mall in Milpitas, in the heart of the San Francisco Bay Area, the new concept store not only marks a significant step in bringing the latest K-beauty trends to a broader US audience, but also represents a major strategic milestone in advancing the Group’s B2C-B2B dual-engine strategy to expand market share in North America.

Driving O2O Synergy: Expanding Offline Reach to Complement B2C Strategy
Celebrating 20 years of delivering trending Asian products worldwide, YesStyle has transformed 1,500 square feet into an immersive retail fantasy. Serving as a strategic extension of the Group’s core B2C business, this new physical footprint enhances offline visibility and reaches a wider demographic of consumers who value hands-on product discovery and immediate purchase. The store offers a “Yesful playground” where beauty lovers can connect with over 60 Asian brands, featuring interactive makeup stations with beloved K-beauty labels like UNLEASHIA, dasique, fwee, and rom&nd, alongside a customizable mask bar. This experiential retail environment functions as a powerful, culturally rich marketing engine, generating offline brand awareness and foot traffic that seamlessly feeds into the digital platform, creating a complementary offline-to-online (O2O) loop that supports repeat purchases and maximizes customer lifetime value (LTV).

Mr. Joshua Lau, Founder, Executive Director and Chief Executive Officer of YesAsia Holdings said: “The launch of YesStyle‘s retail store marks a significant milestone for our brand, as we bring our top-tier and bestselling K-beauty products, along with advanced skin care innovation, into an offline setting for customers in the Bay Area. The Bay Area holds a special place in our history as the city where the Group was founded and where our first office was established. Opening our first YesStyle beauty retail store here feels like coming home and reinforces our commitment to continue innovating and delivering exceptional experiences to our customers, both online and offline.”

Empowering the B2B Wholesale Business AsiaBeautyWholesale (ABW) Growth
This physical retail expansion also creates substantial value for YesAsia Holdings’ B2B operations, ABW. By physically showcasing a curated yet expansive selection of bestselling Korean beauty brands, including SKIN1004, Medicube, Anua, Dr. Althea, Beauty of Joseon, COSRX, and more, in a premium US retail environment, YesStyle acts as an effective market-testing ground. The elevated brand awareness and consumer validation generated at the retail level will bolster confidence among other local US retailers and distributors, effectively catalyzing B2B orders and driving synergistic growth across both of the Group’s core business modules.

Hashtag: #YesAsia #YesStyle

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About YesAsia Holdings Limited (02209.HK)

Established in 1997, YesAsia Holdings is a leading e-commerce platform operator recognized for its expertise in identifying and procuring quality Asian beauty, fashion, lifestyle and entertainment products. Headquartered in Hong Kong, the Group deliver products promptly and efficiently to a global audience through its strong ties with over 400 leading Asian beauty brand and supplier partners. The Group operates three major platforms: YesStyle, an e-commerce B2C platform for serving the increasingly popular Asian beauty, fashion and lifestyle products, particularly Korean beauty products; AsianBeautyWholesale, a B2B platform for Asian beauty products; and YesAsia, an e-commerce retail platform for entertainment products. YesAsia Holdings is a constituent of the MSCI Hong Kong Micro Cap Index.

For more information, please visit the Group’s official website:

About YesStyle

YesStyle, a global B2C online retailer under YesAsia Holdings Limited. (02209.HK), is the go-to destination for the largest selection of authentic Asian beauty, fashion, and lifestyle products. As an authorized retailer of 400+ premium K-beauty brands, YesStyle aims to help everyone find their ‘yes!’ through innovative beauty inspired by Asia, friendly guidance and smart prices since 2006.

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