Triple Challenges and Middle East Risk... Layered Adversities for the Korean Economy [3-Minute Brief]

[3-Min Brief 3-Second Summary]
① Iran-Israel Escalation Concerns "Fuel Tax Cut Extension"
② Bitcoin Halving D-5... Mining Industry Losses Expected
③ OTT Regulation Strengthening Bill to Be Released in Second Half of This Year

MARKET INDEX

- US New York Stock Exchange's three major indices all fell
- Retail sales unexpectedly strong... investor sentiment worsens
- Escalation of Israel-Iran conflict also adds pressure

Top3 NEWS

■ Prolonged 'Triple Highs' of High Oil Prices, High Exchange Rates, and High Interest Rates Weighing on Economy

- Dollar strength and sustained high oil prices expected amid intensified Middle East conflict
- Timing of interest rate cuts pushed back, increasing economic burden
- Concerns that the triple high phenomenon will dampen economic vitality

■ Government Extends Fuel Tax Reduction for Two More Months Amid Fears of Iran-Israel Escalation

- Emergency Economic Ministers' Meeting held on the 15th
- Ninth extension of fuel tax reduction decided
- Oil prices rise due to Iran-Israel tensions

■ Bitcoin Halving D-5... Mining Industry Faces Annual Loss of $10 Billion

- Starts early morning on the 20th Korea time
- Halving reduces coins by half
- Mining industry expected to undergo 'weeding out'

Graphic News: 'Stricter OTT Regulations' Bill to be Released in Second Half

- Government plans to regulate media industry through Integrated Media Act
- Possible deregulation for existing broadcasters like terrestrial TV
- Bill may be stalled for a long time if opposition wins general election

Money-Making Law

■ "Financial Investment Tax, Real Estate PF, Korea-Japan Relations?" Law Firms Busy with General Election Results

- April 10 general election sees Democratic Party landslide victory... law firms tense amid corporate busyness
- Law firms Taepyungyang, Sejong, and Yulchon publish election analysis reports
- Increase in unsold houses... real estate PF issues likely to become economic policy flashpoints
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024041515573328163

■ "With 'Minority Government'... Supreme Court and Constitutional Court Justice Appointments Likely to Face Difficulties"

- Legal community concerned about competitive appointment procedures
- Several term expirations in the second half of this year
- Impact on judiciary budget allocation
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024041515591542988

■ Monopoly on Installing Facilities in Apartment First Floor Gardens... "Demolish Them"

- Residents used apartment gardens as independent spaces
- Court rules "Gardens are common areas... demolition ordered"
- Consistent rulings in first and second trials recognize infringement of shared property
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024041516010159473

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

Terms in the News: Middle East's 'Shadow War' at a Turning Point

[Image source=Yonhap News]

- Iran launches airstrikes toward Israel
- 'Shadow war' dynamics expected to change
- Increased possibility of shift to direct offensive

Today's Key Schedule

○ Domestic

- 08:55 March Trade Balance
- 16th KOSDAQ Hana 33 SPAC subscription, public offering price 2,000 KRW

Busan e-Pyeonhansesang Geumjeong Maison County

Daejeon Yuseong Haneulchae Hier

Gwangju Unam Xi Forena Forstiche (Complex 3)

Gwangju Unam Xi Forena Forstiche (Complex 2)

Gwangju Unam Xi Forena Forstiche (Complex 1)

Gyeonggi Eliph Namwirye Station Edufore (B3)

Busan Jangan District Dietre Ocean (B3)

○ Overseas
- 03:00 US 1Q Atlanta Fed GDPNow
- 09:00 Speech by Federal Open Market Committee member Daly
- 11:00 China 1Q GDP
- 15:00 UK February Unemployment Rate
- 15:00 UK March Unemployment Benefit Claims Change
- 18:00 Eurozone February Trade Balance
- 21:30 US March Housing Starts
- 21:30 Canada March Consumer Price Index
- 22:15 US March Industrial Production

◇ Lunch & Commute Weather

○ Lowest temperature 11℃(▼5℃) ｜ Highest temperature: 19℃(0℃)
○ Precipitation probability morning 60%｜afternoon 0%
○ Fine dust morning good｜afternoon bad

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