This Year’s KOSPI Seen by Securities Firms... Peak at 2900 ['3-Minute Brief']

[3-Min Brief 3-Second Summary]
① Last year's Q3 monthly food expenses near 900,000 KRW
② Jeju Air ranks 1st in satisfaction among Korean low-cost airlines
③ Government forecasts 2.6% inflation rate in Korea this year

MARKET INDEX

- US New York stock market's three major indices closed mixed amid weakness in tech stocks
- Market sentiment worsened as the top market cap company 'Apple' continued to underperform
- The outlook for an interest rate cut as early as March remains dominant

TOP3 NEWS

■ KOSPI to reach a record high of 2,900 this year

- Many factors affecting the stock market including interest rate cuts, economic recession, and the US presidential election
- Diverging opinions on stock market outlook for the first and second half of the year… high first half then low second half vs low first half then high second half
- Korean economy expected to show slight growth due to "manufacturing recovery cycle"

■ Monthly food expenses near 900,000 KRW... "Shaking dining out, now eating home-cooked meals"

- Average monthly household food expenditure has steadily increased since 2019
- Income growth rate lags behind inflation rate… increased burden of food expenses
- Price hikes by dining-out businesses such as chicken industry increase consumer burden

■ Last year's foreign direct investment hits 'all-time high'… driven by semiconductors, secondary batteries, and bio sectors

- Last year's foreign direct investment exceeded 32.7 billion USD, a record high
- Growth led by advanced materials, parts, and equipment such as semiconductors and secondary batteries
- "Expected to contribute to economic vitality recovery through expanded domestic exports and job creation"

Graphic News: Korea's low-cost carrier satisfaction ranking No.1 is 'Jeju Air'

- Korea Consumer Agency surveyed 1,600 users within the last 2 years
- Flight satisfaction ranking: Jeju Air, Air Busan, Jin Air, T'way Air
- Average satisfaction score for the three major airline categories: quality, product, and experience is 34.9 points

the Chart: Government's view on Korea's economy this year… inflation entering '2% range'

- Ministry of Economy and Finance projects economic growth rate at 2.2% in '2024 Economic Policy Direction'
- Similar to forecasts by OECD and IMF… sluggish private consumption and construction market are causes
- Consumer price inflation expected at 2.6% in 2024… "Demand pressure easing will gradually slow inflation"

Term in the News: '90-second rule' gaining attention after Japanese passenger plane accident

- The golden hour before the aircraft is engulfed in flames
- Casual and loud commands shortened evacuation time to '71 seconds'
- AP News: "Advanced materials burn slowly, buying time"

Today's Key Schedule

○ Domestic
- 08:00 Ministry of Economy and Finance, Emergency Economic Vice Minister Meeting and Price-related Vice Minister Meeting

○ Overseas
- 01:00 US Crude Oil Inventory
- 09:30 Japan December Services Purchasing Managers' Index (PMI)
- 16:00 UK December Halifax House Price Index
- 16:00 Germany November Retail Sales
- 19:00 Eurozone December Consumer Price Index
- 22:30 US December Unemployment Rate
- 22:30 Canada December Unemployment Rate

◇ Lunch & Commute Weather

○ Lowest temperature 3℃(▲8℃) ｜ Highest temperature: 8℃(▲1℃)
○ Precipitation probability: Morning 40%｜Afternoon 10%
○ Fine dust: Morning Bad｜Afternoon Moderate

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