'The Lost 3 Years' for Self-Employed, the Future Looks Even Tougher [3-Minute Brief]

[At a Glance]
①Real Estate Transaction Freeze, Brokerage Assistants Disappearing
②China Secretly Aiding Russia, US Imposes 'Super-Strong Sanctions'
③What Does AI Think? The Dangers of the 'Black Box'

MARKET INDEX

- US New York Stock Exchange's three major indices closed near flat
- Important announcements ahead including GDP and inflation indicators
- Tesla shares up 12% on unveiling of low-cost vehicle

TOP 3 NEWS

■ Average Operating Profit 26.57 Million KRW... Dining Industry Still Struggling Despite 'Price Increases'

- Average operating profit of dining businesses has not recovered to 2019 levels
- Sales increased but costs rose more, worsening management
- Operating profit was 30.46 million KRW in 2019, 26.57 million KRW in 2022

■ 1,100 Brokerage Assistants Disappeared in Two Months Amid Transaction Freeze

- Increasing number of real estate agencies closing
- Assistant jobs continuously decreasing
- Real estate brokerage industry’s recovery still 'pending'

■ US Draws Sword Against China Secretly Aiding Russia, Preparing Strong Financial Sanctions

- Military supplies in Russia-Ukraine war
- China providing indirect support
- Blocking Chinese banks' access to US dollars

Graphic News: The Dangers of AI Black Boxes

- AI weaponized in Ukraine-Russia war and Israel-Hamas conflict
- Intervenes in decision-making but reasons unknown... 'Red line' needed
- "Governments should establish regulatory and supervisory bodies for AI and strengthen international cooperation"

Law That Pays

■ Gonggam Celebrates 20th Anniversary: Leading Protection for Vulnerable Groups Including Disabled, Refugees, and Sexual Minorities

- Gonggam Foundation participated in 835 public interest lawsuits over 20 years
- Improved 129 laws and systems
- Expanded ecosystem... Public interest lawyers increased tenfold
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024042418560397370

■ "Information on Others' Agricultural Compensation Amounts Should Be Disclosed as It Does Not Violate Privacy"

- Disclosure of others' agricultural compensation amounts
- Not an invasion of privacy or freedom
- "No personal information involved"
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024042418574502251

■ 'Presidential Office Relocation Construction Corruption' Case... Why Assigned to Violent Crimes Unit?

- Investigation targeting previous government and opposition prolonged... Anti-corruption unit lacks capacity
- Violent crimes unit is separate from political cases, preserving investigation neutrality
- However, concerns raised about appropriateness as violent crimes unit is busy with drug cases
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024042418591905654

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

Terms in the News: Must Pay Pension for 40 Years to Receive Full Benefits, the Trap of 'Income Replacement Rate'

- Ratio of retirement benefits to lifetime average income
- Increasing income replacement rate means relatively higher benefits
- However, may cause financial instability in the National Pension Fund

Today's Key Schedule

○ Domestic
- 08:00 Q1 GDP
- 25th KOSDAQ KOC Chip subscription / public offering price 18,000 KRW
- 25th KOSDAQ HD Hyundai Marine Solutions subscription / expected public offering price 73,300~83,400 KRW

○ Overseas
- 15:00 May Germany GfK Consumer Sentiment
- 17:00 European Central Bank Monthly Report
- 21:30 US Q1 GDP
- 21:30 US Initial Jobless Claims

◇ Lunch & Commute Weather

○ Lowest temperature 11℃(▼1℃) ｜ Highest temperature: 22℃(▲4℃)
○ Precipitation probability 10% in the morning｜0% in the afternoon
○ Fine dust Good in the morning｜Moderate in the afternoon

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