Semiconductor Overproduction... China Invests 33 Trillion Won [3-Minute Brief]

Published 06 Sep.2024 08:00(KST)

Updated 19 Jan.2025 11:11(KST)

[At a Glance]
① National Income Drops by the Largest Margin in 2 Years and 9 Months
② Public Research Institutes Mining Cryptocurrency with High-End GPUs
③ Exponentially Increasing Number of K-Beauty Companies

MARKET INDEX : Year to date

Semiconductor Overproduction... China Invests 33 Trillion Won [3-Minute Brief]

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

- Private sector employment growth at lowest in 3 and a half years

- Monthly rent near Seoul universities steady compared to last year

Top3 NEWS

■ Semiconductor 'Overproduction' Concerns... China Purchased 33 Trillion KRW Worth of Equipment in H1

- China's semiconductor manufacturing equipment expenditure in first half
- Larger than the combined amount of the four major semiconductor manufacturing countries
- Overproduction concerns similar to solar power and electric vehicles

■ "Wallets Thinner" National Income Drops Most in 2 Years and 9 Months

- Real gross national income decreased by 1.4% in Q2
- Largest decline in 2 years and 9 months
- Rising raw material prices impacted income

■ Research Institutes Bought Expensive GPUs Worth Hundreds of Millions... Then Mined Cryptocurrency

- NST audit pointed out management issues at Life Sciences Institute and Chemical Institute
- Expensive GPUs treated as consumables rather than assets after purchase
- Food Research Institute staff mined coins using GPUs owned by the institute

Graphic News : Exponentially Increasing K-Beauty Brands

- 'Mega brands' with annual sales exceeding 100 billion KRW emerge... including 'TIRTIR' and 'Skin 1004'

- Popular in global markets... Olive Young's foreign customer sales up about 190% compared to the same period last year

- E-commerce platforms create experiential spaces through offline events to attract MZ generation customers

Terms in the News : Beyond RE100, ‘CF100’

24/7 CFE logo
Photo by 247 Clean Energy

- International campaign for '100% carbon-free energy supply for corporate electricity consumption'

- Led by UN Energy and Google... about 120 companies participating

- Practical alternative for carbon neutrality... complementary to RE100

Today's Key Schedule

○Domestic

- 08:00 July Current Account Balance

○Overseas
- 00:00 US Crude Oil Inventories

- 05:30 US Federal Reserve Balance Sheet

- 08:30 Japan July Household Spending

- 10:30 Australia July Housing Loans

- 15:00 Germany July Industrial Production

- 18:00 Eurozone Q2 GDP

- 21:30 US August Average Hourly Earnings

- 21:30 US August Nonfarm Payrolls

- 21:30 US August Unemployment Rate

- 21:30 Canada August Unemployment Rate

◇ Lunch & Commute Weather

○ Lowest temperature 24℃(0℃) ｜Highest temperature: 29℃(▼3℃)
○ Precipitation probability morning 60%｜afternoon 60%
○ Fine dust morning good｜afternoon good

3 minutes is OK, essential time-efficient economic news. Published daily at 8 AM.