"When Will the Yen Rebound? Individual Investors on Edge [3-Minute Brief]"

[At a Glance]
① Elon Musk Earned 141 Trillion More This Year Alone
② Lee Chang-yong "Inflation Is Not Over Yet"
③ US Economic Leading Indicator FedEx Slows Down

MARKET INDEX

- US New York Stock Exchange's three major indices all fell due to fatigue from a long-term surge
- Dow Jones Industrial Average, which hit an all-time high, turned down after 10 trading days
- "The market is overbought... a correction like today is natural"

TOP 3 NEWS

■ Musk's wealth increased by '141 trillion' this year... ranked 1st among billionaires

- Elon Musk ranked first as the billionaire who gained the most wealth this year
- Net worth increased by 141 trillion this year, estimated total wealth at 331 trillion
- Zuckerberg ranked 2nd, Bezos 3rd... IT founders showing strong performance

■ Lee Chang-yong: "It's still too early to ease inflation concerns"

- Inflation continues to rise above the Bank of Korea's target level
- Cumulative cost increase pressures and labor costs remain high
- The 'last mile' of price normalization is expected to be difficult

■ Taeyoung Construction agrees to defer repayment of 40 billion won maturing loan

- Lenders agreed to defer repayment of 40 billion won loan for Taeyoung Construction
- Concerns over increased impact of default
- Growing worries over PF insolvency among mid-sized construction companies

Graphic News: Why Wall Street is focusing on FedEx's sales

- FedEx, the largest US transportation company, reported quarterly sales 3% below expectations
- FedEx's logistics sales serve as leading indicators for US manufacturing and retail industries
- Unexpected weak demand can be interpreted as signs of US economic cooling

the Chart: "When will the yen strengthen?" With Japan maintaining monetary easing... Japanese retail investors 'on edge'

- Bank of Japan (BOJ) keeps short-term interest rate at -0.1% and maintains 0% target for 10-year government bond yields
- Plans to consider wage and price situations further before fully implementing tightening policies
- Yen remains weak... Korean retail investors buying at 'bottom prices' unable to enjoy yen investment benefits

Money-Making Law

■ Pacific Law Firm recruits Sung Kim, former US Ambassador to South Korea

- Former Ambassador Sung Kim to serve as head of Pacific's 'Global Future Strategy Center'
- First time recruiting a former senior diplomatic official as head
- "Realizing a 'Korean-style global law firm'... supporting domestic companies' overseas business"
☞Read article: https://www.asiae.co.kr/article/lawtimes/2023122017511324144

■ Kangwon National University Law School Dean: "Hiring discrimination against regional universities by law firms must stop"

- Moon Byung-hyo, Dean of Kangwon National University Law School: "Graduates are not receiving fair evaluations"
- Criticized the ranking system like the LEET and emphasized the need to consider specialization by law school
- Advocated for national-level support so regional national universities can fulfill their roles
☞Read article: https://www.asiae.co.kr/article/lawtimes/2023122018000247419

■ New labor inspector who died after suffering from malicious complaints recognized as 'duty-related death'

- Mr. A, who handled reported cases, informed a complainant of duplicate case closure
- Complainant reacted strongly, filed criminal complaint against Mr. A and his superior for neglect of duty
- Mr. A committed suicide due to guilt... recognized as death caused by work-related stress
☞Read article: https://www.asiae.co.kr/article/lawtimes/2023122018112961422

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

People in the News: 'Accountability Structure' to hold executives responsible for financial accidents

- To prevent financial accidents, internal control responsibilities are pre-assigned to each executive
- Final responsibility for key tasks is designated... targets include CEO and other executives
- Executives fulfilling internal control duties may have reduced or exempted liability in case of financial accidents

Today's Key Schedule

○ Domestic

- 06:00 Producer Price Index for November

○ Overseas
- 00:00 US November Existing Home Sales
- 00:30 US Crude Oil Inventories
- 22:30 US Q3 GDP
- 22:30 US Initial Jobless Claims
- 22:30 US December Philadelphia Fed Manufacturing Index
- 22:30 Canada October Retail Sales

◇ Lunch & Commute Weather

○ Lowest temperature -15℃(▼6℃) ｜Highest temperature: -7℃(▼1℃)
○ Precipitation probability: Morning 0%｜Afternoon 10%
○ Fine dust: Morning Good｜Afternoon Good

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

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