Household Chores Worth '490 Trillion' Won: Women Do 2.6 Times More Than Men [3-Minute Brief]

[3-Min Brief 3-Second Summary]
① Value of Housework, 25% of GDP
② "ChatGPT Move Aside" Meta-IBM AI Alliance
③ Gold Price Hits Record High, Approaching $2200

MARKET INDEX

- US New York stock market's three major indices in a wait-and-see mode... mixed close near flat
- Only Nasdaq rises amid rate cut expectations due to slowing employment indicators
- October US job postings hit lowest in two and a half years, labor market cooling

TOP 3 NEWS

[Photo by Pixabay]

■ The value of housework a staggering '490 trillion' won, 25% of GDP... Women do 2.6 times more than men

- Value of women's housework service production is 2.6 times that of men
- Accounts for 25.5% of GDP, working-age group bears more burden than elderly
- Main consumers of housework services are children needing care

■ "Step aside ChatGPT" Meta and IBM form AI 'open source' alliance

- Meta, IBM, and others build a free large language model (LLM) alliance
- Microsoft maintains AI confidentiality, contrasting with Google
- Emphasize open AI, seen as advantageous for innovation and safety

■ "Gold price to hit $2200 with rate cuts"… Central banks start buying

- Gold at record highs, central banks still purchasing
- International gold price up more than 14% since the start of this year
- Early rate cut expectations driving gold price increase

Graphic News: Paternity Leave Rates of Male Public Officials in Korea and Japan

- Large difference in public officials' paternity leave rates
- Japanese men 72.5%, Korean men 10.6%
- "Strong measures for automatic paternity leave needed"

the Chart: Ecopro BM Stock Price

- Soared 70% in one month since November, closed at 323,000 won
- Samsung SDI announces large supply contract… impacts sharp stock rise
- Securities firms unanimously say "overvalued"… uncertainties rise due to demand slowdown

Term in the News: 'RIZZ'

Photo by REDBUBBLE

- Oxford's Word of the Year: 'RIZZ'
- Used as noun and verb meaning 'charm that attracts the opposite sex'
- Widely popular online this year especially among Generation Z

Today's Key Schedule

○ Domestic
- K& S KOSDAQ listing / IPO price 23,000 won
- 9:30 Financial Services Commission & Lee Bok-hyun, Financial Supervisory Service Governor, meeting with insurance CEOs
- 10:30 Ministry of Science and ICT, Smart Village Champion Festa
- 10:30 Ministry of Labor, Youth Work Experience Conference
- 10:30 Ministry of Agriculture, Food and Rural Affairs, Labor-Management Win-Win Council
- 12:00 Ministry of Industry, on-site inspection of urea supply
- 14:00 Ministry of Industry, Seoul area R&D briefing session
- 14:00 Ministry of Agriculture, Food and Rural Affairs, meeting with dining-out self-employed

○ Overseas
- 09:30 Australia Q3 GDP
- 22:15 US ADP Nonfarm Employment (November)
- 22:30 US Trade Balance
- 22:30 US Unit Labor Costs (Q3)
- 00:30 (7th) US Crude Oil Inventories
- AMD 'Advancing AI' event

◇ Lunch & Commute Weather

○ Lowest temperature -4℃(▲2℃) ｜ Highest temperature: 11℃(0℃)
○ Precipitation probability morning 20%｜afternoon 60%
○ Fine dust morning moderate｜afternoon moderate

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