The Global Economy's Achilles' Heel: 'Retired Workers' [3-Minute Brief]

[At a Glance]
①Supply Chain Disrupted by Closure of Baltimore Port, USA
②Coupang to Establish Nationwide 'Kusegwon' Zones by 2027
③Trump's SNS, 'Truth Social'

MARKET INDEX

- US New York Stock Exchange's three major indices all closed higher
- Rebounded after three days due to inflow of bargain buying
- 2-year Treasury yields sensitive to monetary policy also declined

TOP 3 NEWS

■ BlackRock Chairman: "The Greatest Global Crisis of the 21st Century is 'Retirement'"

- Aging population combined with retirement age limits pension systems
- Emergence of the need for a new social security system
- "Americans have not even one dollar in their savings accounts"

■ '681 Trillion KRW Private Investment' Advanced Strategic Industry Specialized Complex, Exempt from Preliminary Feasibility Study and Unlimited National Funding Support

- Precise support for advanced strategic industry specialized complexes
- Semiconductors, displays, secondary batteries, etc.
- Advanced industry R&D up 10% compared to last year

■ BMW and Mercedes-Benz Hit Hard... Supply Chain Paralyzed by Closure of Baltimore Port in the US

- Baltimore, an import-export port on the US East Coast
- Ripple effects spreading to other ports
- Bridge reconstruction could take several years

Graphic News: Coupang's Counterattack... By 2027, the Whole Country Will Be 'Cusegwon'

- Coupang to invest over 3 trillion KRW by 2026 for nationwide free Rocket Delivery
- Investment scale more than double that planned for Chinese direct purchase app AliExpress
- Expected to contribute to improving population extinction and shopping desertification in local areas

Money-Making Law

■ Prosecutors Target SPC Chairman Heo Young-in... Testimony of CEO Hwang Jae-bok, Who Was Transferred to ICU, Is Key

- Prosecutors zero in on the core of the 'Paris Baguette baker union withdrawal coercion' allegations
- Credibility of CEO Hwang's testimony may be shaken due to ICU transfer
- CEO Hwang points to Chairman Heo Young-in as the higher-up... Chairman Heo denies, making testimony verification crucial
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024032716503759344

■ Trademark Infringement Injunction Case Filed by Louis Vuitton Against Reformers, Patent Court Chief to Preside Over Second Trial

- Reformers use customers' Louis Vuitton bag fabrics to make products for different purposes
- First trial ruled "Reform products constitute trademark infringement as substantive production acts"
- Patent Court refers case to special trial division considering industry and social impact
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024032716515867782

■ Simplification of Judgments, Improvement of Appeals... Active Discussions to Resolve Trial Delays

- Active Supreme Court judge proposes 'activation of Supreme Court's quashing trial' to resolve trial delays
- Long judgments cited as cause of delays... increasing use of footnotes
- Over 40,000 appeal cases annually to the Supreme Court... "Improvement measures such as appeal permission system needed"
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024032716553279215

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

Company in the News: SNS 'Truth Social' Created by Trump

- Listed on the US Nasdaq market and started trading from the 26th (local time)
- Trump created Truth Social after being banned from major SNS platforms
- Similar structure to old Twitter... two years since launch but "performance is questionable"

Today's Key Schedule

○ Domestic

○ Overseas
- 09:30 Australia February Retail Sales
- 16:00 UK Q4 GDP
- 16:00 Germany February Retail Sales
- 17:55 Germany March Unemployment Rate
- 21:30 US Initial Jobless Claims
- 21:30 US Q4 GDP
- 21:30 Canada February GDP
- 22:45 US March Chicago PMI
- 23:00 US March University of Michigan Consumer Sentiment Index

◇ Lunch & Commute Weather

○ Lowest temperature 8℃(▲4℃) ｜ Highest temperature: 14℃(▼2℃)
○ Precipitation probability Morning 80%｜Afternoon 70%
○ Fine dust Morning Good｜Afternoon Moderate

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