If You Bought '1+1... Almost Sold Out,' You Were Deceived [3-Minute Brief]

[3-Min Brief 3-Second Summary]
Dark Patterns Mislead and Induce Consumer Errors
Won-Dollar Exchange Rate Hits 1,200 Level After 3 Months
Mortgage Rates at 6% Prompt "Cancel Delivery and Subscriptions"

TOP 3 NEWS

■ "Buy now and get 1+1, almost sold out" 'Dark Patterns' deceiving consumers

- Designs inducing consumer misconceptions, mistakes, and irrational spending
- 'Dark Patterns' still prevalent according to major domestic online shopping mall surveys
- Most frequently used type is 'Notification of other consumers' purchases'

■ "With mortgage loan rates jumping to 6%, half of salary goes to principal and interest repayment... stopped delivery and subscriptions"

- Variable mortgage loan interest rate rose from 3.53% last year to 4.72% this year
- General credit loan interest rate also increased from 5.29% last year to 6.40% this year
- Following the highly leveraged investors, general investors are also reducing consumption

■ Won-Dollar exchange rate in 1,200 won range for first time in 3 months... Domestic stock market rises due to short selling ban

- US Fed rate hike expected to end, leading to a drop in government bond yields
- Domestic stock market rise also influenced by the full ban on short selling
- Won-Yen effective exchange rate lowest since January 15, 2008 (865.28 won)

MARKET INDEX

- Nasdaq index rising for the longest period since January
- Bond yields rebound amid continued bets on the end of tightening
- Oil prices rise due to ongoing production cuts by Saudi Arabia and Russia

Graphic News: When wages rise 2.1%, perceived inflation jumps 4.6%

- Real wages have been falling for half a year due to rapid inflation
- High inflation likely to continue until next year
- Concerns over domestic demand recession as consumer sentiment declines

Money-Making 'Law'

■ "Patent protection possible at lower cost through the Unified Patent Court (UPC) in Europe"

- Klaus Grabinski, President of the Unified Patent Court of Europe
- Announced at the '2023 International Patent Court Conference' held in Daejeon
- "UPC will provide significant economic benefits to the parties involved"
☞Read article: https://m.asiae.co.kr/article/2023110616083858676

■ Pressure from prosecution, Financial Supervisory Service, and Fair Trade Commission... How far will Kakao go?

- Kakao Group's legal risks are increasing
- Pressure from prosecution, Financial Supervisory Service, and now Fair Trade Commission
- Kakao side reorganizing compliance monitoring committee and other organizations
☞Read article: https://m.asiae.co.kr/article/2023110616065553470

■ Voice phishing mastermind who embezzled 10.8 billion won... longest sentence ever '35 years imprisonment'

- Operated from the Philippines base... embezzled from 560 victims
- Mastermind sentenced to the longest ever 35 years imprisonment
- Arrest warrants issued for other members... currently wanted and being tracked
☞Read article: https://m.asiae.co.kr/article/2023110616033947419

※ 'Money-Making Law,' a content partnership corner between Asia Economy and Law Times, is published every Tuesday and Thursday.

Terms in the News: First 'Cold Wave Warning' issued this year

- A weather warning issued when temperatures drop sharply and a cold wave is expected
- Effective from 11 AM to 9 PM on the 6th in northeastern Seoul, Taebaek in Gangwon, and northern mountain areas
- Temperatures will also drop sharply on the morning of the 7th, urging caution for health management

Today's Key Schedule

○ Domestic
- Naver plans to cancel treasury shares worth 305.3 billion won
- Invest Korea Summit from 6th to 8th (Busan BEXCO)
- KT Q3 earnings conference call
- LG Uplus Q3 earnings conference call
- Krafton Q3 earnings announcement

- 1st priority for Dobong Kumho Eoullim River Park in Dobong-dong, Dobong-gu, Seoul
- 1st priority for Gochon Central Xi in Gochon-eup, Gimpo-si, Gyeonggi
- 1st priority for Uijeongbu Prugio Claciel in Geumo-dong, Uijeongbu-si, Gyeonggi
- 1st priority for The Sharp Uijeongbu Station Link City in Uijeongbu-dong, Uijeongbu-si, Gyeonggi

○ Overseas
- US Secretary of State Blinken visits Tokyo, Japan
- 08:30 Japan Household Spending (September)
- 12:00 China Exports, Imports, Trade Balance
- 12:30 Australia Interest Rate Decision
- 12:45 France Goncourt Prize Announcement
- 16:00 UK Halifax House Price Index
- 16:00 Germany Industrial Production (September)
- 19:00 Eurozone Producer Price Index
- 20:00 UK Mortgage Interest Rate
- 22:39 US Trade Balance (September)

◇ Lunch & Commute Weather

○ Lowest temperature 3℃(▼13℃) ｜ Highest temperature: 10℃(▼7℃)
○ Precipitation probability 30% in the morning｜10% 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.