Olive Young Targets '1000-Won Cosmetics' Rebellion [3-Minute Brief]

Published 02 Oct.2024 08:00(KST)

Updated 19 Jan.2025 11:14(KST)

[At a Glance]
① 9.4 Trillion Won in Uncollected National Tax Revenue by August
② Government and Bank of Korea Spend 150 Trillion Won on Overdraft Facility
③ Investment Cuts, Layoffs... Crisis in Electric Vehicles

MARKET INDEX : Year to date

Olive Young Targets '1000-Won Cosmetics' Rebellion [3-Minute Brief]

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

- Investor sentiment cooled due to Iran's retaliatory attack on Israel

- International oil prices briefly plunged about 5% during the session

Top3 NEWS

■ National tax revenue short by 9.4 trillion KRW until August… Corporate tax down by 16.8 trillion KRW

- National tax revenue until last month decreased by 9.4 trillion KRW compared to a year ago
- Due to reduced corporate tax prepayments and decreased income tax
- Progress rate against budget at 63.2%, improved compared to last year

■ Government used 150 trillion KRW in Bank of Korea's overdraft facility… Largest ever

- Bank of Korea's temporary loan system to the government activated
- Government borrowed 152.6 trillion KRW from Bank of Korea
- Outstanding balance not yet repaid totals 10.5 trillion KRW

■ Investment declines, layoffs, and factory closures… 'Electric vehicles' shaken

- Sales retreat centered in the EU and the US
- Major manufacturers withdraw investment plans
- Consumers sensitive to car costs

Graphic News : 1,000 KRW Daiso cosmetics... Challenging Olive Young?

- Rapid sales growth after expanding lineup from basics to color cosmetics

- Securing growth momentum by attracting new customers amid the K-beauty boom

- Full-scale launch of offline-based small-quantity, low-priced cosmetics business

the Chart : Korea Zinc's share buyback... Stock price plunges

- Defense strategy pursued by simultaneous public tender offer and share buyback

- Possible to restore voting rights by transferring to friendly forces like Hyundai Motor and Hanwha

- Potentially considered breach of trust and market manipulation... Stock price fell 3.23%

Date in the News : Teacher's Day 'May 15', also honoring King Sejong's achievements

[Source=Yonhap News]

- May 15 designated as 'King Sejong's Birthday', May 27 as 'Aerospace Day' national holidays

- "Will contribute to raising pride as a cultural nation by publicizing King Sejong's great achievements"

- "To promote public interest in the space economy and foster the aerospace industry"

Today's Key Schedule

○Domestic

08:00 September Consumer Price Index

Gyeonggi Uijeongbu Lotte Castle Narivek City

Gangwon Wonju Station Umirin The Sky

Busan De Fine Gwang-an

○Overseas

05:30 American Petroleum Institute Weekly Crude Oil Inventory

08:50 Japan Q3 Large Single-Floor Manufacturing Index

18:00 Eurozone August Unemployment Rate

21:15 US September ADP Nonfarm Employment Change

23:30 US Crude Oil Inventory

◇Lunch & Commute Weather

○ Lowest temperature 10℃(▼1℃) ｜Highest temperature: 21℃(▼1℃)
○ Precipitation probability 0% in the morning｜20% in the afternoon
○ Fine dust Good in the morning｜Good in the afternoon

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