50 Million Won, Opportunity to Dine at Xi Jinping's Table [3-Minute Brief]

[3-Min Brief 3-Second Summary]
① 2024 CSAT, Stock Market Opens at 10 AM
② Opposition's 'Windfall Tax'... Targeting Bank Interest Profits
③ Prolonged Crypto Downturn Concerns 'Crypto Winter'

■ MARKET INDEX

- Slowdown observed in producer prices following US consumer prices
- Expectations for end of tightening rise amid inflation slowdown
- International oil prices plunge due to increase in US weekly crude oil inventories

■ TOP 3 NEWS

[Image source=Yonhap News]

"50 million KRW per seat at Xi Jinping's dinner table"…US companies fiercely compete for tickets

- Xi Jinping visits the US for the first time in 6 years, meets with US company leaders including Musk
- 'Dinner with Xi Jinping' tickets popular as opportunity to expand business in the Chinese market
- Must pay 50 million KRW for a seat at the same table as Xi Jinping…only 8 seats available

Inconsistent capital market regulations…Will inclusion in WGBI follow MSCI's failure?

- Temporary ban on short selling receives negative reviews from foreign media
- Inclusion in the World Government Bond Index (WGBI) next year also seems unlikely
- Opinions that uncertainty in the Korean capital market has increased

Democratic Party pushes 'windfall tax' legislation…Targets 'interest profiteering' by banks

- Democratic Party promotes legislation for so-called 'windfall tax' to recover excess profits from banks
- Intends to share the burden of economic hardship by taxing industries with strong earnings
- However, concerns about 'double taxation' and potential rise in loan interest rates

■ Graphic News: The effect of the 'temporary ban on short selling' ended in a flash

- Daily trading volume at the lowest level of the year…one-fifth of the peak
- Large decrease in foreign investor trading volume (-62%)
- Expectations for improved supply and demand in secondary batteries after the ban also dashed

■ the Chart

- The advance of YouTube, Instagram, and TikTok offering short-form content
- Naver and Kakao also fiercely chasing by introducing short-form services
- The power of short-form content that is brief but increases user dwell time

■ Money-Making Law

Concerns over violation of '5% rule' by small shareholder platforms

- Small shareholders sometimes gather to hold more than 5% of shares
- Small shareholders are exempt from large shareholding reporting obligations
- Must report holdings if intended to influence management rights
☞Read article: https://m.asiae.co.kr/article/2023111606333514817

'Artificial Intelligence Community' launched for court AI trial support research

- Founding general meeting held online with 33 members led by judges
- Research on legal issues that may arise with AI development
- Designing AI activity programs to support trial work
☞Read article: https://m.asiae.co.kr/article/2023111515441166420

Supreme Court: Viewing others' multi-rater evaluation results is not a violation of the Information and Communications Network Act

- Both first and second trials imposed fines…Supreme Court ruling differed
- Viewing and capturing employee evaluation results not considered violations
- Access rights to viewing not limited to executives and employees
☞Read article: https://m.asiae.co.kr/article/2023111515534614771

※ 'Money-Making Law,' a content partnership corner between Asia Economy and Legal Newspaper, is published every Tuesday and Thursday.

■ News Terminology: 'Crypto Winter'

[Image source=Yonhap News]

- Phenomenon where virtual asset prices plunge and capital outflows continue
- Long-term bearish market with low trading volume compared to winter
- Term originated when 'Mt. Gox' was robbed of Bitcoin

■ Today's Key Schedule

○ Domestic
- President attends APEC Summit in the United States
- Stock market opens at 10:00 AM (2024 College Scholastic Ability Test)
- Astech public subscription / offering price 28,000 KRW
- 10:00 Korea Communications Commission, International OTT Forum
- 15:00 Ministry of SMEs and Startups, SME Convergence Expo (Songdo Convensia)

○ Overseas
- APEC Summit (San Francisco, USA)
- 08:50 Japan export value (October)
- 10:30 China housing prices (October)
- 22:30 US initial jobless claims
- 22:30 US Philadelphia Fed Manufacturing Index (November)
- 23:15 US industrial production

◇ Lunch & Commute Weather

○ Lowest temperature 6℃(▲5℃) ｜ Highest temperature: 7℃(▼6℃)
○ Precipitation probability 60% in the morning｜60% in the afternoon
○ Fine dust Moderate in the morning｜Moderate in the afternoon

OK in 3 minutes, essential time-efficient economic news. Published daily at 8 AM.

This content was produced with the assistance of AI translation services.