Samsung DRAM Returns to Profit After One Year [3-Minute Brief]

[3-Min Brief 3-Second Summary]
① Last year's tax revenue shortfall 56.4 trillion KRW, deficit for 2 consecutive years
② Semiconductor production recovery trend since the end of last year
③ Two camps in AI development, 'Closed' vs 'Open'

MARKET INDEX

- US New York Stock Exchange's three major indices all closed lower
- Federal Reserve (Fed) dismisses possibility of rate cut in March
- Base interest rate held steady at 5.25~5.5%

Top3 NEWS

■ Samsung Electronics Semiconductor Deficit Improves... DRAM Turns Profitable After One Year

- Last year's consolidated operating profit of 6.5 trillion KRW
- Approximately 85% decrease compared to the previous year
- However, DRAM turned profitable in Q4

■ Last Year's Tax Revenue Shortfall of 56.4 Trillion KRW... Two Consecutive Years of Deficit for the First Time in 9 Years

- Tax revenue shortfall of 56 trillion KRW occurred last year
- For the second consecutive year, revenue fell short of budget following 2022
- Due to decreases in corporate tax and capital gains tax

■ US 700,000 KRW Tumbler Sold Out Amid Heavy Metal Controversy

- US tumbler manufacturer Stanley faces lead content controversy
- Manufacturer states "No contact with consumers"
- Product recently popular mainly among US Generation Z

Graphic News: AI Camps, Open vs Closed

- Google collaborates with Hugging Face, a leading open AI representative
- Taking a different path from previous moves... challenges 'closed' Microsoft
- "If it can't be like ChatGPT, it will likely pursue alliance strategies"

the Chart: Semiconductor Hope Seen at Year-End, Will the Momentum Continue?

- Last year's mining and manufacturing production decreased by 3.9%, down 3.8% year-on-year
- Largest decline since 1998... affected by sluggish semiconductor exports
- Semiconductor export recovery in the second half led to 0.6% month-on-month increase in mining and manufacturing production in December

Money-Making Law

■ Youngpoong Seokpo Smelter Bears 'ESG Bomb' of Major Accidents and Environmental Pollution

- Daegu District Prosecutors' Office booked Seokpo Smelter for local environmental pollution charges
- Non-ferrous metal smelter producing up to 400,000 tons of zinc annually
- Numerous legal risks including illegal cadmium discharge and poisoning accidents
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024013120582901356

■ Civil Servant Demoted for False Multi-Housing Ownership Report... Supreme Court Rules "Disciplinary Action Unjust"

- Gyeonggi Province conducted housing ownership investigation on December 2020 promotion candidate for grade 4
- Mr. A underreported ownership of 2 houses and 2 officetel pre-sale rights, demoted to grade 5
- Supreme Court: "Appointment authority exercised without legal basis... housing ownership not a main evaluation factor"
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024013121015409176

■ How Did the Czech Road Traffic Act Change in 2024?

- Fully revised Czech traffic law effective from early 2024
- Strengthened punitive and preventive functions of administrative sanctions system
- Significantly increased penalties for traffic violations, caution advised
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024013121075418730

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

Company in the News: 'Toyota Jidoki' That Embarrassed Toyota

- Automotive engine manufacturer famous for 'craftsmanship' within Toyota Group
- "Hard to report if development is not done properly"... controversy over engine output falsification
- Toyota Motor halts shipment and apologizes for 10 car models equipped with problematic engines

Today's Key Schedule

○ Domestic
- 09:00 January Trade Balance
- 09:30 January Nikkei Manufacturing Purchasing Managers' Index (PMI)
- 1st KOSDAQ E닉스 listing / IPO price 14,000 KRW
- 1st KOSDAQ IBKS No.24 SPAC listing / IPO price 2,000 KRW

○ Overseas
- 00:30 US Crude Oil Inventory
- 04:00 US Interest Rate Decision
- 09:30 Japan January Manufacturing PMI
- 12:35 Japan JGB 10-Year Bond Auction
- 15:00 India Federal Government Budget
- 17:45 Italy January Manufacturing PMI
- 17:50 France January Manufacturing PMI
- 17:55 Germany January Manufacturing PMI
- 18:30 UK Q3 Labor Productivity
- 19:00 OPEC Meeting
- 19:00 Eurozone January Consumer Price Index
- 19:00 Eurozone December Unemployment Rate
- 21:00 UK January Interest Rate Decision
- 22:30 US Initial Jobless Claims
- 23:45 US Manufacturing PMI

◇ Lunch & Commute Weather

○ Lowest Temperature -4℃(▼3℃) ｜Highest Temperature: 7℃(▼2℃)
○ Precipitation Probability Morning 20%｜Afternoon 30%
○ Fine Dust Morning Bad｜Afternoon Bad

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.