The Richest Stockholder Lee Jae-yong Earned 3 Trillion Won Last Year [3-Minute Brief]

[At a Glance]
①This Year’s Global Semiconductor Production Capacity Expected to Reach Record High
②Thanks to Tax Cuts... Soju Prices to Decrease in the New Year
③Concerns Over Rising Delinquency Rates on Commercial Real Estate Secured Loans

MARKET INDEX

- US New York Stock Exchange's three major indices all closed lower
- FOMC minutes did not include discussions on interest rate cuts
- Early interest rate cut expectations were dampened

TOP3 NEWS

■ Chairman Lee Jae-yong's stock assets reach 15 trillion KRW, maintaining No.1 in Korea

- Samsung Chairman Lee Jae-yong's stock valuation approached 15 trillion KRW last year
- Increased by over 3 trillion KRW compared to the previous year, maintaining Korea's top spot
- Former Chairman Lee Dong-chae of EcoPro's stock value increased by 500%

■ "Interest rates higher than crypto returns" - Unbelievable ultra-high interest rate countries

- Zimbabwe's interest rate was 200% as of last year
- Surpassing returns from crypto, stocks, and funds
- Inflation crisis hits emerging countries harder

■ Semiconductor production capacity to reach an all-time high this year

- Global semiconductor production capacity expected to reach 30 million units per month
- Increased by 6.4% compared to last year, setting a new record
- Demand driven by AI-based advanced logic and high-performance computing

Graphic News: Soju prices to decrease from the New Year

- Large supermarkets and convenience stores to reduce soju prices by about 10%
- Due to reduced taxes imposed on domestic distilled liquor
- Soju prices expected to fall to the 1,000 KRW range

the Chart: Soaring delinquency rates on commercial real estate mortgage loans

- Commercial real estate also facing downturn amid growing concerns over PF defaults
- Increased risk of real estate market failures spreading to financial institutions
- Domestic institutions investing in overseas commercial assets also facing rising damages

Money-Making Law

■ Spouse's contribution to property acquired under sole name during marriage considered "de facto marital property" upon divorce

- In divorce, 30% of wife's acquired property value attributed to husband’s contribution, 70% to wife
- Even if property is wife's separate asset, husband's economic activities judged to have contributed directly or indirectly
- The court handling this case is currently hearing the appeal trial of divorce between Chairman Chey Tae-won and Director Noh So-young
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024010315274023478

■ Only 0.33% of 34,660 lawyers are 'full-time public interest lawyers'

- Survey shows only 117 lawyers nationwide work full-time in public interest activities
- Dedicated to public interest lawsuits and institutional improvements for socially and economically disadvantaged and minorities
- "Need to build an ecosystem where local communities, government, corporations, and legal professionals organically cooperate"
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024010315330937033

■ Sentencing date for 'accusation manipulation suspicion' Son Jun-sung delayed to end of January

- Alleged to have manipulated accusations against ruling party figures to lawmaker Kim Woong just before the April 2020 general election
- Sentencing for Deputy Prosecutor Son Jun-sung on charges including violation of Public Official Election Act rescheduled to January 31
- If the court accepts the prosecution's sentence request and imposes imprisonment, he may lose his prosecutor position
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024010117264170996

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

News Term: Netflix subscriptions also burdensome... 'Streamflation'

- A portmanteau of 'streaming' and 'inflation'
- Subscription fees rising due to intensified market competition, user stagnation, and increased production costs
- Korea Communications Commission to review fee hikes and investigate legal violations

Today's Key Schedule

○ Domestic
- 06:00 December Foreign Exchange Reserves (US Dollar)

- Gyeonggi Bucheon Yeokgok Station Ateum Switzen
- Gyeonggi Gwangmyeong Xi Hillstate SK View
- Chungnam Asan The Sharp Tangjeong Infinity City (A4)

○ Overseas
- 00:00 US December ISM Manufacturing Purchasing Managers Index (PMI)
- 00:00 US November Labor Department JOLTs (Job Openings and Labor Turnover Survey)
- 04:00 US Federal Open Market Committee (FOMC) Minutes
- 10:45 China December Caixin Services PMI
- 18:00 Eurozone December Markit Composite PMI
- 18:30 UK December Composite PMI
- 22:00 Germany December Consumer Price Index
- 22:15 US December ADP Nonfarm Employment Change
- 22:30 US Initial Jobless Claims
- 23:45 US December Services PMI

◇ Lunch & Commute Weather

○ Lowest temperature -5℃(▼4℃) ｜ Highest temperature: 7℃(▲2℃)
○ Precipitation probability: Morning 20%｜Afternoon 30%
○ Fine dust: Morning Moderate｜Afternoon Moderate

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.