Last Year, Only 'Baemin' Smiled in the Delivery App Market [3-Minute Brief]

[At a Glance]
①This Year's Construction Cost Index Rose 3% Compared to Last Year
②Up to 100 Million KRW Gift Tax Deduction Within 2 Years of Childbirth
③US Tightening on China Also Targets Autonomous Driving 'Lidar'

MARKET INDEX

- Optimism about the US economy gains credibility inside and outside Wall Street
- Expectations for Fed rate cuts also boost confidence
- S&P 500 index approaches its all-time high

TOP3 NEWS

■ "No questions asked, done in seconds"... Refund paradise in China

- Chinese e-commerce platforms gaining global attention
- Biggest advantage is not cost-effectiveness but 'refund and exchange policies'
- Most consumer-friendly compared to any other platform

■ Up to 100 million KRW deduction for gifts received within 2 years of child's birth

- Property gifted within 2 years of child's birth eligible for up to 100 million KRW deduction
- Law applies even if birth was registered before 2024 but gift received next year
- Integrated after-school and care programs like Neulbom School, expanded parental leave

■ Real estate market frozen... Seoul and Gangnam apartment auctions come to a halt

- Auction price rate, a barometer of real estate market, falls for two consecutive months
- Bidders submit lower prices due to market adjustment concerns
- Reflecting this atmosphere, transactions mainly involve low-priced properties

the Chart : Delivery apps in recession... only 'Baemin' is thriving

- Delivery apps that grew explosively during the pandemic are slowing down
- 2nd and 3rd place Yogiyo and Coupang Eats see mixed user numbers
- Meanwhile, Baemin, which reduced delivery fees, is prospering

Money-Making Law

■ Domestic rulings reluctant to expand disclosure over basic rights concerns

- Unconfirmed civil case rulings after January 1, 2023, also disclosed online
- 45% of civil, criminal, and administrative court rulings from 2019 to 2022 are electronically disclosed
- Calls for full disclosure grow in the AI era... "Promoting legal transparency"
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024010117001141138

■ Supreme Court: Tenant's renewal request just before apartment sale balance payment is a valid reason to refuse payment

- Previous tenant initially declined to use renewal right but changed stance
- Prospective buyer's obligation to pay balance cannot be seen as a prior performance obligation
- However, landlord is not obligated to terminate contract with tenant and deliver to buyer
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024010117184763332

■ Delight offers customized services by country and company for Southeast Asia expansion

- Law firm Delight launches ‘Asia Practice Group’ (APG)
- Local desks in Vietnam, Myanmar, Cambodia, Thailand, etc.
- "Can provide information resources to SMEs and mid-sized companies eager to expand"
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024010117264170996

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

Terms in the News: US tightening on China, next after semiconductors is 'LiDAR'?

- Following semiconductors, sanctions on China expand to LiDAR, the 'eyes' of autonomous vehicles
- LiDAR market size estimated to exceed 8.2 trillion KRW by 2027
- US company Auster lobbying government and politicians to counter Chinese competitors

Today's Key Schedule

○ Domestic
- 09:30 Nikkei December Manufacturing Purchasing Managers' Index (PMI)

- Gyeonggi Yangju Deokgyeok Jinsan Blue Ciel (E6-6)

○ Overseas
- 10:45 China December Caixin Manufacturing PMI
- 18:00 Eurozone December Manufacturing PMI
- 18:00 Eurozone M3 Money Supply, Private Loans
- 18:30 UK December Manufacturing PMI
- 23:45 US December Manufacturing PMI

◇ Lunch & Commute Weather

○ Lowest temperature 0℃(▼2℃) ｜ Highest temperature: 6℃(0℃)
○ Precipitation probability morning 40%｜afternoon 30%
○ Fine dust morning moderate｜afternoon moderate

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