Monthly Embezzlement Incidents in Financial Sector... Customers Feel Uneasy [3-Minute Brief]

Published 24 Jun.2024 08:00(KST)

Updated 19 Jan.2025 11:02(KST)

[At a Glance]
① Financial Sector Embezzlement of 180.4 Billion KRW Over 6 Years
② Overseas Direct Investment Amount Falls About 15%
③ South Korea's Inheritance Tax Rate Ranks 2nd Among OECD Countries

MARKET INDEX : Year to date
Monthly Embezzlement Incidents in Financial Sector... Customers Feel Uneasy [3-Minute Brief] 원본보기 아이콘

- Focus on whether KOSPI will settle above 2800 this week
- Micron earnings announcement on the 26th... expected to impact the stock market
- "Conditions for an 'Everything Rally' with rising asset prices are met"



TOP 3 NEWS
Monthly Embezzlement Incidents in Financial Sector... Customers Feel Uneasy [3-Minute Brief] 원본보기 아이콘
■ Embezzlement in the financial sector amounts to 180.4 billion KRW over 6 years... occurring monthly this year
- Continuous embezzlement incidents in the financial sector
- Recovery rate is only 9.7% overall
- "Need to establish innovative internal control measures"
■ EU electric vehicle tariffs prompt retaliation warning from China... Germany says "deterioration in Russia support relations"
- EU announces plan to raise tariffs on Chinese electric vehicles up to 48%
- German Vice Chancellor discusses high tariffs with China after visit
- Disagreements on EV tariffs remain... "Discussions between EU and China needed by November"
■ "Population decline from 2025 requires fundamental changes in housing policy"
- Population decline expected nationwide except Sejong and Gyeonggi after 2052
- Yeongnam region to decrease by over 20%, Honam, Gyeongbuk, and Daejeon by over 15%
- Urgent need to introduce housing policies addressing low birthrate and changing demographics


Graphic News: Foreign Direct Investment at Lowest in 2 Years
Monthly Embezzlement Incidents in Financial Sector... Customers Feel Uneasy [3-Minute Brief] 원본보기 아이콘

- Prolonged high interest rate environment and worsening Middle East situation... investment sentiment down
- Foreign direct investment down 14.6% year-on-year in Q1 this year
- Declines in finance, insurance, and manufacturing; increases in real estate and science & technology sectors



the Chart: College Student Demands "100% Inheritance Tax," Economic Expert's Rebuttal
Monthly Embezzlement Incidents in Financial Sector... Customers Feel Uneasy [3-Minute Brief] 원본보기 아이콘

- Milton Friedman: "If 100% inheritance tax is imposed, wealth will be wasted on luxury"
- Debate on Korea's inheritance tax law... companies say high rates affect management
- Criticism that inheritance tax burden leads business owners not to manage listed company stocks



Terms in the News: Global Oilfield 'Flaring' at Highest Level in 5 Years
Monthly Embezzlement Incidents in Financial Sector... Customers Feel Uneasy [3-Minute Brief] 원본보기 아이콘

- Flaring refers to the controlled burning of gas leaking into the atmosphere from oil wells
- Environmental groups criticize, "CO2 from flaring can impact global climate"
- Oil industry states, "Flaring burns methane, which is 20 times more harmful than CO2... flaring is important"



Today's Key Schedule

○ Domestic
- 24th: KOSDAQ Mirae Asset Vision SPAC No.6 listing, offering price 2,000 KRW
- 24th: KOSDAQ HMC SPAC No.7 listing, offering price 2,000 KRW
- 24th: KOSDAQ Hanjoong NS listing, offering price 30,000 KRW
- 24th: KOSDAQ Has subscription, expected offering price 9,000~12,000 KRW


○ Overseas
- 17:00 Germany June Ifo Business Climate Index
- 19:00 Eurozone Finance Ministers Meeting

◇ Lunch & Commute Weather
○ Low temperature 22℃(▼1℃) ｜ High temperature: 28℃(▼12℃)
○ Precipitation probability morning 20%｜afternoon 20%
○ Fine dust morning moderate｜afternoon moderate
Monthly Embezzlement Incidents in Financial Sector... Customers Feel Uneasy [3-Minute Brief] 원본보기 아이콘

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