'ChatGPT Father' Sam Altman Becomes Billionaire [3-Minute Brief]

[At a Glance]
① Pado, Insider Trading Suspicion Detected
② LS Stock Rises Amid Soaring Copper Prices
③ Korea's AI-Driven Weapon: 'Small Giant Language Model'

MARKET INDEX

- US New York Stock Exchange's three major indices plunged after the release of the March Consumer Price Index (CPI)
- Investor sentiment weakened following concerns that the pace of inflation slowdown is not fast enough
- US Treasury yields surged amid forecasts of interest rate cuts in July or September

TOP 3 NEWS

■ Forbes: "OpenAI's Sam Altman Becomes Billionaire...Assets Worth $1 Billion"

- Sam Altman, CEO of OpenAI and 'Father of ChatGPT'
- Asset value of $1 billion...ranked 2,692nd among the world's wealthy
- Holds investments in multiple startups and real estate in places like Hawaii

■ [Exclusive] 'Inflated IPO' Controversy Surrounding Pado, Insider Trading Suspicion Under Investigation

- Investigation ongoing into illegal trading activities by internal executives
- Early institutional investors and private equity funds also subject to raids
- "Pado investigation expected to conclude within 1 to 2 months"

■ "Like Akihabara in Japan...A Fusion City Linking Large and Small Companies and Commercial Areas"

- Interview with Nam Jin, urban planning expert and professor at Seoul National University of Science and Technology
- Emphasis on 'connection and fusion' as the future vision of Yongsan Electronics Market
- "Seoul must compete with cities like Tokyo...should not be satisfied with current infrastructure"

the Chart: 'Soaring' Copper Prices...LS Stock Flying High

- LS stock surged due to rising copper prices, with a high overseas business ratio among domestic cable companies
- "Price increase driven by large-scale mine closures in Panama, Peru, and production cuts at Chinese smelters"
- Additionally, the cable industry is gaining attention recently due to the expansion of renewable energy and advancements in AI technology

Law That Pays

■ Passing the Bar Exam Becomes the 'Selection' Criterion for Elective Subjects

- International Trade Law, International Law, and Environmental Law are called the 'Big 3' elective subjects for the bar exam
- Other subjects face academic crises with elective courses being discontinued and professor recruitment halted
- "Elective course enrollment should be made mandatory as a graduation requirement for law schools"
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024040916595577743

■ ['Budget Poor' Judiciary] Judges Spending Personal Money on Field Inspections

- Judicial budget issues and avoidance of field inspections affecting frontline trials
- Budget drafting and submission handled by the government, while review and approval authority lies with the National Assembly
- Related regulations have not been revised since 2006...no reflection of inflation changes
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024040917020794799

■ Google and Meta vs. Personal Information Protection Commission: Who Will Win the 100 Billion Won Fine Lawsuit?

- Google and Meta contest fines imposed by the Personal Information Protection Commission...Ministry of Justice and major law firms representing the case
- Authorities plan to mobilize full legal capabilities in the lawsuit over personal data sovereignty against global companies
- Overseas, big tech companies face strict penalties related to user data collection and advertising use
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024040917053009026

※ 'Law That Pays' is a content partnership corner between Asia Economy and Law Times, published every Tuesday and Thursday.

Terms in the News: Korea's AI Top 3 Powerhouses' Weapon 'sLLM'

- Small Large Language Model (sLLM) is a model with relatively fewer parameters compared to LLM
- Generally, models with over 100 billion parameters are classified as LLM, and those below as sLLM
- Advantages include shorter training time and lower cost than LLM, and the ability to optimize for specific industries

Today's Key Schedule

○ Domestic
- 11th: KOSDAQ Shinhan No.13 SPAC subscription / Public offering price 2,000 KRW


- Daegu Beomeo I-Park

○ Overseas
- 03:00 US Federal Open Market Committee Minutes
- 10:30 Australia Building Approvals
- 10:30 China March Consumer Price Index
- 20:00 Organization of the Petroleum Exporting Countries (OPEC) Monthly Report
- 21:15 European Central Bank (ECB) April Interest Rate Decision
- 21:30 US Initial Jobless Claims
- 21:30 US March Producer Price Index
- 21:45 ECB Press Conference

◇ Lunch & Commute Weather

○ Lowest temperature 12℃(▲2℃) ｜ Highest temperature: 20℃(▲1℃)
○ Precipitation probability: Morning 60%｜Afternoon 20%
○ Fine dust: Morning Moderate｜Afternoon Moderate

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