Year-End Is Colder for Yeongkkeuljok [3-Minute Brief]

[3-Min Brief 3-Second Summary]
①Conflicting US Economic Outlooks Among Experts
②Kakao's M&A Blocked by Judicial Risks
③Airline Industry: Only Low-Cost Carriers Profited

■ MARKET INDEX

Year-End Is Colder for Yeongkkeuljok [3-Minute Brief]

- US three major stock markets closed mixed... rally takes a breather
- International oil prices plunge due to inventory increase and demand decrease
- Inflation and unemployment-related indicators continue to slow down

■ TOP 3 NEWS

'Yeongkkeuljok' face colder year-end... interest rates rise, COFIX hits highest this year

- COFIX at 3.97% in October, highest this year
- COFIX is the benchmark for variable-rate mortgage loans
- Yeongkkeuljok borrowing 500 million KRW pay 700,000 KRW more monthly principal and interest

'Soft landing vs recession'... US economic outlook uncertain

- Inflation and economic indicators slow down... GDP holds up well
- The decline in personal consumption likely to determine next year's economy
- Unemployment rate and retail inventories are gradually increasing

Kakao blocked from overseas M&A... group risk materializes

- Kakao Pay's acquisition of US securities firm faces sudden halt
- Transaction postponed due to judicial risks and regulatory uncertainties
- If the second deal is blocked, the acquisition is practically off the table

■ Graphic News: Low-cost airlines smile, major airlines cry

- Four out of five low-cost carriers achieve record-high profits, while major airlines see operating profit decline
- The weak yen phenomenon increased Japanese tourists, boosting low-cost carriers' strong performance
- Major airlines affected by increased fixed costs such as fuel and staff salaries compared to COVID-19 period

■ the List

- Korean doctors see 6,113 patients annually... 3.4 times the OECD average
- However, ranked 15th out of 19 countries for 'spent enough time with doctor' responses
- Health insurance coverage is among the lowest... highest share of out-of-pocket medical expenses

■ Term in the News: Quality-lowering 'Skimplation'

- A compound word of 'skimp' meaning 'to be stingy' and 'inflation'
- Products keep the same size or volume but use cheaper materials to reduce cost burden
- Consumers find it hardest to notice quality decline... a 'cunning sneaky inflation'

■ Today's Key Schedule

○ Domestic
- Ministry of Land, Infrastructure and Transport, housing finance industry meeting (Seoul)
- Ministry of Agriculture, Food and Rural Affairs, on-site inspection of wholesale market agricultural product supply and demand (Suwon)
- Ecopro Materials listed on KOSPI / IPO price 36,200 KRW
- 2023 LA Auto Show held (~26th)

○ Overseas

- APEC Summit closing
- 16:00 UK retail sales (October)
- 19:00 Eurozone consumer price index (October)
- 22:30 US building permits, approvals, and housing starts (October)

◇ Lunch & Commute Weather

○ Lowest temperature -2℃(▼7℃) ｜ Highest temperature: 4℃(▼3℃)
○ Precipitation probability morning 60%｜afternoon 60%
○ Fine dust morning good｜afternoon good