[3-Minute Brief] I’m Also a Tenant, Paying 45 Million Won Monthly Rent

[3-Min Brief 3-Second Summary]
High Interest Rates Boost Clear Preference for Super Rich Monthly Rent
Telecom Companies Losing Status as Preferred Employers Among Youth
Samsung and Hynix Alumni Creating Ecosystem

Two-line News

[3-Minute Brief] I’m Also a Tenant, Paying 45 Million Won Monthly Rent

'Acro Seoul Forest' in Seongsu-dong, Seongdong-gu, Seoul
Photo by Asia Economy

■ Even the Super Rich Prefer Monthly Rent Over Jeonse... Surge in Ultra-High-Price Contracts
○ Due to prolonged high interest rates, 'super rich' such as high earners and celebrities clearly prefer monthly rent
○ High-priced monthly rent contracts exceeding 10 million KRW continue in Gangnam-gu, Seongdong-gu, etc.
☞Read more: https://m.asiae.co.kr/article/2023092509023844175

■ Young People Shun the Top 3 Telecom Companies... Employment Preference Falls Outside Top 30
○ The status of youth-preferred companies SK Telecom, KT, and LG Uplus has recently changed
○ MZ generation focuses on cost-effectiveness, turning to budget phones, causing continuous decline in employment preference
☞Read more: https://m.asiae.co.kr/article/2023092508203985291

■ Korea Tackles Weak Link in Semiconductor Industry... Notable Moves by Samsung and Hynix Alumni
○ Active startups in system fields by Samsung alumni... Attempting IP business, which was unfamiliar domestically
○ Three young talents from Hynix unite to support startups, leading to the birth of materials, parts, and equipment companies
☞Read more: https://m.asiae.co.kr/article/2023092216583109203

■ Will Health Insurance Premium Rates Freeze or See Minimal Increase Next Year? Decision Today
○ This year, health insurance premium rate surpassed 7% for the first time, increasing the burden of national health insurance expenses
○ Government pledges to minimize next year’s increase... Some say it’s effectively a freeze rather than a 0.01% hike
☞Read more: https://m.asiae.co.kr/article/2023092520384386787

■ Consumer Economic Sentiment Turns 'Pessimistic' After 4 Months
○ Concerns over export slump and rising perceived inflation increase pessimism about the overall economy
○ Bank of Korea’s 'Consumer Sentiment Survey' shows September Consumer Confidence Index (CCSI) at 99.7
☞Read more: https://m.asiae.co.kr/article/2023092606015796256

MARKET INDEX

○ Despite rising U.S. Treasury yields due to prolonged Fed tightening and fears of a federal government shutdown, markets rebounded
○ Stock prices remained heavy during the day but slightly recovered at the end, though upward pressure remains weak
☞Read more: https://m.asiae.co.kr/article/2023092604593261403

Top 5 Funds Most Held in Pension Savings and Retirement Pension Accounts

◎ What kind of fund is the No.1 product?
- Eugene Champion Short-Term Bond: A product investing in short-term bonds with relatively high interest rates, commercial paper, and corporate notes. Employs a short-term asset maturity holding strategy.

Graphic News: Apartment Move-in Volume Explodes in October

○ Move-in volume is a key variable in the rental market (Increase in move-in volume = decrease in Jeonse price ratio)
○ Nationwide apartment move-in volume in October is 33,375 households, a 38% increase compared to the previous month
○ Especially, the move-in volume in the metropolitan area is expected to exceed 20,000 households, more than doubling

Term in the News: 'Loconomy'

'Jindo Green Onion Cream Croquette Burger' Pop-up Store.
[Photo by McDonald's] [Image source=Yonhap News]

○ A compound word of Local and Economy
○ A phenomenon of producing and consuming products and services that reflect regional characteristics
○ McDonald’s re-releases the 'Jindo Green Onion Cream Croquette Burger,' which caused a sold-out frenzy
☞Read more: https://m.asiae.co.kr/article/2023092514440733741

Today's Key Schedule

○ Domestic
-10:00 Bank of Korea Financial Stability Committee Meeting Minutes
-14:00 Ministry of Economy and Finance, Financial Services Commission, Financial Supervisory Service Heads, Real Estate Related Ministers Meeting
-14:00 Ministry of Economy and Finance, Ukraine Reconstruction Meeting

○ Major Subscription and Product Launches
-Seoul 'Bomun Central I-Park' 1st Priority Subscription
-Seoul 'Hillstate Gwanak Cent Ciel' 1st Priority Subscription
-NCSoft launches puzzle game 'Puzz Up Amitoy' globally

○ Overseas
-14:00 Bank of Japan Core CPI (YoY)
-21:00 U.S. Building Permits
-22:00 Eurozone ECB President Lagarde Speech
-23:00 U.S. New Home Sales (August)
-23:00 CB Consumer Confidence Index (September)

◎ Why is U.S. New Home Sales Important?
- The U.S. New Home Sales Index is a barometer of economic outlook. Housing sales greatly affect consumption, investment, and employment. When the economy recovers, new home sales tend to pick up as well.

◇Lunch & Commute Weather

○ Lowest Temperature 18℃ (▲1℃) ｜ Highest Temperature: 23℃ (▼2℃)
○ Precipitation Probability Morning 80%｜Afternoon 60%
○ Fine Dust Morning Good｜Afternoon Good