Unusual Exchange Rates Also Make Interest Rates Dance? [3-Minute Brief]

[At a Glance]
① Budget Shortfall Covered Again This Year by the Korea Investment Corporation
② Historic Volatility Expected in US Stock Market... What’s the Reason?
③ Kumho Petrochemical Gains Consecutive Wins in Management Dispute

MARKET INDEX

- US New York Stock Exchange's three major indices all closed higher

- Oil prices fall due to Israel's 'limited attack' on Iran

- Investor sentiment keenly watching employment, inflation, and growth rate data releases

TOP 3 NEWS

■ Exchange rate highest in four months... Lee Chang-yong: "New factors considered in interest rate decisions"

- Exchange rate rapidly emerging as a key variable in interest rate decisions
- Won-dollar rate rising close to the 1,400 won level
- If the upward trend continues, a freeze next month is possible

■ Tax revenue shortfall of 29.6 trillion won, to be covered again by the Foreign Exchange Stabilization Fund this year

- Government announces revised tax revenue response plan
- Local allocation tax and grants expected to be adjusted by 6.5 trillion won
- Budget non-utilization expected between 7 trillion and 9 trillion won

■ Historic volatility expected in US stock market this week... The reason

- Q3 earnings of five major big tech companies amid 'growth slowdown'
- Rising US Treasury yields ahead of the US presidential election
- Impact of distorted US October employment report

Graphic News: Consecutive victories in 'management rights dispute'... Kumho Petrochemical accelerates shareholder return efforts

- New three-year shareholder return policy expected to be announced by the end of this year

- Consecutive wins in management rights dispute with former Executive Director Park Cheol-wan

- Court: "Claims of invalidity of treasury stock disposal actions cannot be accepted"

Law That Pays

■ 'Incentives' even make judges dance

- Court Administration Office decides to provide additional performance bonuses to judges working in criminal trial divisions
- Suggestions for strengthening compensation for criminal division judges collected and reflected in survey results
- Increased workload and 'judge personal information digging' have made criminal division avoidance more pronounced
☞Read article: https://www.asiae.co.kr/article/2024102814041036187

■ No corporate tax reduction even if internet broadcasting server is acquired and a new site is launched

- Investigation for bribery and breach of trust under the Act on the Aggravated Punishment of Specific Economic Crimes
- Investigation team estimates bribery amount to be in the 10 billion won range
- First case of illegal private gain pursuit by major shareholder uncovered... summons imminent
☞Read article: https://www.asiae.co.kr/article/2024102814080170488

■ Participation of only intellectually disabled persons in search and seizure is illegal

- Investigative agencies must ensure participants understand the meaning of procedures when executing search and seizure warrants
- Participation of only children with intellectual disabilities is not lawful... evidence collected is illegal
- Difficult to achieve constitutional requests such as legislative intent of the Criminal Procedure Act and protection of fundamental rights
☞Read article: https://www.asiae.co.kr/article/2024102814163531513

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

Person in the News: "Playground for young people" Abley's CEO Kang Seok-hoon

- Cumulative downloads exceed 40 million, membership surpasses 11 million... company valuation 3 trillion won

- Analyzes preferences and exposure using big data-based 'Artificial Intelligence (AI) personalized recommendation technology'

- Launched Japanese women's fashion platform 'Amour' last year... also announced plans for North American expansion

Today's Key Schedule

○ Domestic

29th KOSDAQ The Born Korea subscription, public offering price 34,000 won

29th KOSDAQ TomoCube subscription, public offering price 16,000 won

Gyeonggi Osan Segyo Hildesheim (A2)

Gyeonggi Osan Segyo Woomee Lin Central City (A14)

Gyeonggi Yangju Station Prugio Center Park (A1)

Jeonbuk Namwon Dream Haven

○ Overseas

08:30 Japan September Unemployment Rate

16:00 Germany November GfK Consumer Climate

21:30 US September Goods Trade Balance

23:00 US October CB Consumer Confidence Index

23:00 US September Labor Department JOLTs

23:30 US Atlanta Fed Q3 GDPNow

◇ Lunch & Commute Weather

○ Lowest temperature 12℃(▼2℃) ｜ Highest temperature: 18℃(▼2℃)
○ Precipitation probability morning 30%｜afternoon 30%
○ 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.