[3-Minute Brief] Born a Building Owner... Thank You, Harabeoji

[3-Min Brief 3-Second Summary]
Grandparents to Grandchildren 'Skipped Generation Gifts' Soar
Sports Investment Spotlighted... Goldman Also Interested
Samsung Electronics Q3 Earnings Outlook 'Uncertain'

Two-line News

[3-Minute Brief] Born a Building Owner... Thank You, Harabeoji

View of Yeouido apartments. The photo is unrelated to the article content.
Photo by Kim Hyunmin

■ "Born a Building Owner"…0-year-old Grandchild Inherits Real Estate Worth 70 Billion KRW from Grandparents
○ Grandparents' real estate → grandchild 'generation-skipping gift' exceeds 10,000 cases in 5 years
○ Criticism that it is being used as a tax-saving loophole... "Investigate source of funds"
☞Read article: https://m.asiae.co.kr/article/2023100217230478899

■ Buying a Mid-priced House in Seoul Requires 41% of Monthly Income
○ 2nd quarter housing purchase burden index at 165.2…appropriate level is 130~140
○ Recent increase in loans and rising housing prices…index may rise further

☞Read article: https://m.asiae.co.kr/article/2023100219292055943

■ Samsung Electronics Likely to Miss Q3 Expectations…S-Oil and Others Show Strong Performance
○ Amid sluggish stock market, expectations for Q3 earnings have lowered
○ Among 251 listed companies, 72 have upward revisions in operating profit consensus
☞Read article: https://m.asiae.co.kr/article/2023092615482572912

■ Sports Investment in Spotlight…Goldman Sachs Also Established a Specialized Department
○ Super-rich and wealthy show interest in sports M&A and financing
○ Besides profits from club M&A, also investing in commercial real estate of stadiums
☞Read article: https://m.asiae.co.kr/article/2023092614542994424

■ To Capture Generation Z…Japan's Asics Experiments by Abandoning '4-line Design'
○ Accelerating efforts to shed image as a 'brand popular in the past' and target Gen Z
○ Concerns over discarding core designs that have maintained brand identity
☞Read article: https://m.asiae.co.kr/article/2023092710044092146

MARKET INDEX

○ US long-term Treasury yields fall after hitting highest level since 2007
○ Treasury yields rising amid concerns that the Fed will maintain high interest rates longer
○ Experts say "to find the bottom, selling pressure in bond market needs to ease"
☞Read article: https://m.asiae.co.kr/article/2023100405225464452

Graphic News: Korea, China, and Japan Helpless Against Strong Dollar

○ Dollar continues unstoppable rise, currencies of Korea, China, and Japan fall helplessly
○ China’s economy also shows sluggishness, efforts to de-dollarize may weaken
☞Read article: https://m.asiae.co.kr/article/2023092708030728955

Term in the News: 'Lanweilou'

A construction site of a building in Shanghai. The photo is unrelated to the article content. [Photo by Yonhap News]

○ 'Lanweilou (爛尾樓)': Chinese term meaning 'unfinished building'
○ Generally refers to apartment buildings or structures abandoned after construction halted for over a year
○ This year, China’s real estate sector, ranked 5th, faces bankruptcy risk, becoming a time bomb
☞Read article: https://m.asiae.co.kr/article/2023092708441157499

Today's Key Schedule

○ Domestic
- Hanssak, KOSDAQ listing, public offering price 12,500 KRW
- Chungnam Asan 'Tangjeong Prugio Riverpark' 1st priority subscription
- Seoul Dongdaemun-gu 'e-Pyeonhansesang Dapsimni Artefore' special supply
- Incheon Seo-gu 'e-Pyeonhansesang Geomdan Wellcounty' special supply
- LG Electronics launches first domestic foldable laptop 'LG Gram Fold'

○ Overseas
-10:00 New Zealand interest rate decision
-22:45 US Services Purchasing Managers Index (September)
-23:00 ISM Non-Manufacturing PMI (September)
-23:30 US Crude Oil Inventory
-China National Day holiday (~8th)

◎One-line Comment:
A decrease in crude oil inventory means that factories, airplanes, and ships using oil are operating actively, which is interpreted as a positive signal for the economy.

◇Lunch & Commute Weather

○ Lowest temperature 14℃ (1℃▼) ｜ Highest temperature: 22℃ (1℃▼)
○ Precipitation probability 20% in the morning｜60% in the afternoon
○ Fine dust Good in the morning｜Good in the afternoon