Why Salaries Are Melting... Social Insurance Burden Doubled in 10 Years [3-Minute Brief]

[3-Min Brief 3-Second Summary]
① National Pension investing in defense stocks
② Low PBR craze, shifting to bio stocks?
③ Will China's stock market stimulus be effective?

MARKET INDEX

- US New York Stock Exchange's three major indices all closed higher
- Overall market strength driven by strong earnings from companies like Ford
- 81.2% of S&P 500 companies exceeded earnings expectations

Top3 NEWS

■ Why My Salary Decreased... Social Insurance Contributions in Korea Doubled Over 10 Years

- Social insurance fees including health insurance and national pension doubled in 10 years
- Korea Employers Federation: "The increase speed of social insurance in Korea is too fast"
- Average annual growth rate of 7.5%, highest among OECD countries

■ National Pension Sold Off Billions This Year, But 'Picked Up' Defense Stocks

- In January, the top two increases in National Pension holdings were both defense stocks
- Among domestic stocks, 9 were net bought, 19 were net sold
- Among net bought stocks, 6 are known as 'low PBR stocks', drawing attention

■ 'Low PBR Stocks' Trend Sweeping the Market... Interest in Bio Sector

- Interest in low PBR stocks due to corporate value-up programs
- Average PBR of bio and diagnostic business stocks is about 6.5 times
- Companies with strong financial structures like Seegene tend to have lower PBR

the Chart : Will China's Stimulus End Market Fear?

- Hong Kong H-Share Index plunged, causing suspension of ELS interest payments
- However, China's large-scale stimulus measures are positive
- Long-term concerns remain... China also warns of 'deflation'

Money-Making Law

■ 'Yeouido Grim Reaper' Seoul Southern District Prosecutors' Office Reinforces 4-5 Regular Prosecutors

- Seoul Southern District Prosecutors' Office significantly strengthens investigation manpower through personnel changes
- 21 transfers in, 11 transfers out... Concentrating investigative power at Southern District Prosecutors' Office
- High-intensity investigations on financial, securities crimes, and virtual asset crimes expected
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024020716340502394

■ Weekend Protests in Front of Temple... Court Rules "Not Interference with Religious Activities"

- Temple filed injunction against environmental group protests nearby
- Court: "No traffic obstruction or defamation... injunction dismissed"
- Considering freedom of assembly, protest, and expression, court sided with environmental group
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024020716461660724

■ Luxembourg and Strasbourg... Hong Seung-pyo, Luxembourg & EU Lawyer

- European Court of Justice makes judicial decisions regarding the EU
- Known as 'Luxembourg Court' within Europe
- Purpose is judicial review of the European Convention on Human Rights
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024020716384916868

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

Terminology in the News: 'FPV Drone' That Changed the Paradigm of Modern Warfare

[Image source=Yonhap News]

- First-person view (FPV) drones controlled via virtual reality goggles
- Strong sense of immersion as if sitting in the cockpit
- Evolved into lethal weapons carrying bombs for strikes

Today's Key Schedule

○ Domestic

○ Overseas
- 00:30 US Crude Oil Inventories
- 01:30 Atlanta Fed GDPNow (Q1)
- 09:30 Australia Building Approvals
- 10:30 China January Consumer Price Index
- 13:30 India January Interest Rate Decision
- 21:00 Brazil January Consumer Price Index
- 22:30 US Initial Jobless Claims

◇ Lunch & Commute Weather

○ Lowest Temperature -4℃ (0℃) ｜ Highest Temperature: 6℃ (▲2℃)
○ Precipitation Probability Morning 0%｜Afternoon 20%
○ Fine Dust Morning Moderate｜Afternoon Moderate

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