10 Trillion Won Land Idle for 10 Years, GBC [3-Minute Brief]

[3-Min Brief 3-Second Summary]
① "Korean Economic Growth Rate Forecasted at 2.7% This Year"
② May Subscription Results Dimmed Despite Spring Peak Season
③ Value-Up Stocks Chosen by National Pension Service

MARKET INDEX

- US New York stock market's three major indices closed mixed
- Holding breath ahead of the employment report on the 7th
- ECB to start rate cuts earlier than the Fed

Top3 NEWS

■ Hyundai Research Institute "Economic growth rate forecast at 2.7% this year"…0.5%P increase from early year

- If the forecast holds, much higher than last year's 1.4%
- Raised forecast due to steady export recovery
- Exports offset domestic demand slump…vulnerable to external environment changes

■ May subscription results disappointing despite spring peak season…average competition rate 3.35 to 1

- Lower competition rate compared to the same period last year
- Last May's average was 11.21 to 1
- Delayed to June leading to 'cautious subscription'

■ '10 trillion' land empty for 10 years…citizen inconvenience grows due to GBC delay

- Disagreement between Hyundai Motor and Seoul City on maximum floors causes stalemate
- 5% progress rate, still in early stage after 4 years since groundbreaking
- Long-term inconvenience to citizens' passage and property rights infringement

Graphic News: National Pension Service's 'Value-up' securities are Kiwoom and Samsung

- National Pension Service's pick for 'value-up securities' are Samsung and Kiwoom Securities
- Holding over 5% in total of 6 listed securities companies
- Kiwoom Securities: "We will further expand meetings with domestic and foreign investors"

the Chart: The 'union' variable hidden behind semiconductor subsidies

- President Biden has shown pro-union stance throughout his term

- Cummings: "CWA pressures global companies receiving subsidies"

- Semiconductor companies face increased burden for active cooperation

Term in the News: The smile of Baekje returned to homeland, 'Gilt-bronze Avalokitesvara statue'

- "A work featuring a beautiful smile and soft curves"
- Considered one of the finest Buddhist relics from the Baekje period
- Created during King Uija's era…another piece was taken to Japan

Today's Key Schedule

○ Domestic
- 7th: KOSDAQ DB Financial SPAC No.12 subscription, public offering price 2,000 KRW
- 7th: KOSDAQ LaMeditech subscription, public offering price 16,000 KRW

- Busan Jium Cygnus Indongnae

○ Overseas
- 05:30 Fed balance sheet
- 08:30 Japan April household spending
- 13:30 India interest rate decision
- 15:00 Germany April industrial production
- 18:00 Eurozone Q1 GDP
- 21:30 US May average hourly earnings
- 21:30 US May unemployment rate
- 21:30 US May nonfarm payrolls
- 21:30 Canada May unemployment rate

- 23:15 Lagarde, President of the European Central Bank, speech

◇ Lunch & Commute Weather

○ Lowest temperature 17℃(▼1℃) ｜ Highest temperature: 28℃(▼1℃)
○ Precipitation probability: morning 0%｜afternoon 60%
○ Fine dust: morning good｜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.