'Surging Demand' Online Shopping Spent 120 Trillion in First Half [3-Minute Brief]

[At a Glance]
① Tax Benefits and Corporate Participation Key to Value-Up Success
② OpenAI CEO Predicts "Superintelligence to Emerge Within Thousands of Days"
③ OPEC Says "Oil Demand to Rise 18% by 2050"

MARKET INDEX

- US New York Stock Exchange's three major indices closed mixed near flat

- Investors focus on the Federal Reserve's next rate cut magnitude

- GDP growth rate on the 26th, PCE inflation announcement on the 27th

TOP 3 NEWS

■ For the Value-Up Index to succeed... Tax benefits and corporate participation are key

- Composed of 100 stocks including Samsung Electronics and Hyundai Motor
- Follow-up measures needed such as tax incentives and abolition of financial investment tax
- Majority expect limited effect on stock market stimulation

■ OpenAI CEO Altman: "Superintelligence will emerge within thousands of days through deep learning"

- Sam Altman posted on the company blog
- "AI will open new paths previously unimagined"
- "Performance improves as the scale of deep learning grows"

■ OPEC: "Oil demand peak has not come... 18% increase by 2050"

- Impact from OECD countries' population and economic growth
- Oil will account for 30% of total energy by 2050
- Bloomberg: "Overly bullish oil forecasts"

Graphic News: Online shopping in the first half of the year, explosive demand for delivery and travel... Record high of 120 trillion won

- Increased by 12.8% compared to the same period last year... e-coupon services show the highest growth rate

- Non-face-to-face transactions became routine due to COVID-19, explosive travel demand after endemic

- "Consumer sentiment weakened due to the Timef scandal... Measures needed to restore trust"

Law That Makes Money

■ Mid-sized law firms pioneering overseas legal markets

- Launch of Global Business Support Center (GBSC) helping small and medium-sized enterprises expand overseas
- Attempts to expand mainly in Southeast Asia... expanding specialized services tailored to local markets
- Domestic market monopolized by large law firms... small and medium-sized firms entering global markets
☞Read article: https://www.asiae.co.kr/article/2024092513264975669

■ '75 years of friendship' broken between Korea Zinc and Young Poong, large law firms become battleground

- Dispute over management rights... "Unethical management" vs "Environmental pollution"
- Young Poong claims "Chairman Choi Yoon-beom misused funds"… Korea Zinc protests
- Financial mobilization power determines outcome... large law firms also joining
☞Read article: https://www.asiae.co.kr/article/2024092513292788219

■ Small and medium enterprises vulnerable to Serious Accident Punishment Act, half of guilty verdicts involve workplaces with fewer than 50 employees

- Concerns about small and medium construction companies lacking capacity to prepare for the Serious Accident Punishment Act becoming reality
- During trials, small local law firms and individual lawyers hired instead of large law firms
- "Need to check if the law is operated as intended... Punishments concentrated on small businesses"
☞Read article: https://www.asiae.co.kr/article/2024092513304294325

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

Person in the News: Harris's 'close friend' billionaire Mrs. Jobs

Steve Jobs' wife and Silicon Valley female fund investment leader, billionaire Lauren Powell Jobs
[Photo by Getty Images Yonhap News]

- Mrs. Jobs has supported Harris financially and advised for 20 years... greatly helped increase recognition

- Connection formed through San Francisco federal attorney general candidacy... attended Harris's wedding with '60 guests'

- Speculation that she may hold a government position during Harris's administration... "Will exert influence"

Today's Key Schedule

○ Domestic

○ Overseas

08:50 Bank of Japan Monetary Policy Meeting Minutes

16:30 Swiss SNB Interest Rate Decision

21:30 US Q2 GDP

21:30 US Initial Jobless Claims

22:20 Fed Chair Powell Speech

◇ Lunch & Commute Weather

○ Lowest temperature 21℃(▲3℃) ｜ Highest temperature: 27℃(▼1℃)
○ Precipitation probability morning 60%｜afternoon 60%
○ Fine dust morning good｜afternoon good

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.