Semiconductor Alliance Also Does Not Share 'People' [3-Minute Brief]

[3-Min Brief 3-Second Summary]
① What Is the Direction of the US Economy If Trump Is Elected?
② Number of Employees in Large Corporations Surpasses 3 Million for the First Time
③ Korean Workers' Lunch Costs Are Twice Those of Japan

MARKET INDEX

- US New York stock market's three major indices all closed higher
- S&P 500 index hits an all-time high
- Seoul's jeonse market in December last year was the worst in 6 years

Top3 NEWS

Photo by Kang Jin-hyung, Asia Economy

■ Semiconductor alliances also hide talent

- Semiconductor cooperation countries including Korea, the US, Taiwan, Japan, and the Netherlands
- Analysis of agreements over the past 15 years shows no personnel exchange clauses
- R&D determines industrial competitiveness... securing engineers is critical

■ Will there be a second 'Trump shock'... Economic direction following the US presidential election

- US presidential election likely between Joe Biden and Donald Trump
- Some fear a repeat of the 'Trump shock' if Trump wins
- However, the market may have already priced in both possibilities

■ Employment in large corporations surpasses '3 million' for the first time... Samsung employees at 124,000

- Last year, employment in large corporations exceeded 3 million for the first time ever
- Accounts for 10.9% of total workers... highest proportion ever
- Increase accelerated since the COVID-19 pandemic

Graphic News: Korean office workers' lunch cost twice that of Japan

- 'Lunchflation' intensifies price inversion between Seoul and Tokyo
- Average lunch cost in major business districts of Seoul metropolitan area is 10,000 to 12,000 KRW
- Average lunch cost for Japanese office workers is 5,000 to 6,000 KRW... increase in 'dosirak' (lunchbox) eaters

Money-Making LAW

Photo by Beopryul Newspaper

■ Korean venture companies participating in CES "Desperate for legal assistance"

- Differences in laws between countries cited as the biggest barrier to overseas expansion
- Legal review costs for overseas markets are difficult for small companies to bear
- Complex domestic systems... increasing number of companies turning to overseas markets
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024012219550296222

■ [Interview] "Companies hoping to expand overseas should seek advice from legal experts"

- "Legal experts are specialists in laws, systems, and regulations... legal support during overseas expansion is their role"
- "Companies should find appropriate legal experts who understand their concerns to receive proper advice and help"
- Regarding concerns about legal costs... "Korean law firms should mediate and control costs"
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024012219594702505

■ [Ruling] Supreme Court: Comprehensive advisory contracts not based on resolving specific issues do not constitute solicitation of brokerage fees

- "Even if a former military officer signed an advisory contract with a defense contractor and received compensation, it does not constitute solicitation of brokerage fees"
- Supreme Court overturned lower court rulings... "It corresponds to labor provision acts, not solicitation of brokerage fees"
- First presentation of criteria for establishing solicitation of brokerage fees crime... "Amount, method, etc. should be considered comprehensively"
☞Read article: https://m.asiae.co.kr/article/series/2024012214510962157

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

Terms in the News: Controversial Article 3 of the 단통법 (Mobile Device Distribution Improvement Act)

[Image source=Yonhap News]

- Act on the Improvement of Distribution Structure of Mobile Communication Terminal Devices

- The main point is to provide the same subsidy benefits to all customers

- Criticized for suppressing subsidy competition among dealerships

Today's Key Schedule

○ Domestic
- 06:00 Producer Price Index for December
- 23rd KOSDAQ Inix public subscription, offering price 14,000 KRW


- Gyeonggi e-Pyeonhansesang Singok Signature View
- Incheon Jeil Punggyeongchae Geomdan III (AB20-1)

○ Overseas
- 09:30 Australia National Bank December Business Confidence Index
- 11:30 Bank of Japan interest rate decision
- 14:00 Bank of Japan Core Consumer Price Index (CPI)
- 15:30 Bank of Japan press conference
- 22:30 Canada December New Housing Price Index

◇ Lunch & Commute Weather

○ Lowest temperature -13℃(▼4℃) ｜ Highest temperature: -7℃(▼13℃)
○ Precipitation probability 0% in the morning｜20% 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.