Semiconductors Revived by AI... Hynix Says "Did You See?" [3-Minute Brief]

[3-Min Brief 3-Second Summary]
① Amazement at China's Ultra-Low Prices
② US Regional Bank Fails Again After 6 Months
③ Inflation Closes Wallets Starting with the Poor

MARKET INDEX

- US New York Stock Exchange's three major indices all closed higher
- Strong corporate earnings, Tesla surged over 15%
- Big tech earnings reports from Apple, Amazon, and others pending

Top3 NEWS

■ Awe-inspiring temptation of 'ultra-low prices'... Even if Chinese-made, if cheap, people buy

- Ultra-low price consumption driven by Ali and Temu
- Shift from US direct purchase to Chinese direct purchase
- Consumer overseas direct purchase spending also surging

■ US regional bank fails again after 6 months... "First failure case this year"

- Republic First Bank sold to Fulton Bank
- First failure case in 6 months since last November
- Republic had only $4 billion in total deposits as of January this year

■ When prices rise, low-income groups close their wallets first

- Lower income leads to reduced consumption during inflation
- Paper published in Bank of Korea's 'BOK Economic Research'
- Annual income below 30 million KRW, consumption decreased by 1.8 times

the Chart : AI semiconductor demand proven by SK Hynix

- SK Hynix announced Q1 earnings... achieved 12 trillion KRW in sales
- Increased HBM sales and rising memory prices drove performance
- NAND flash demand rising due to AI effect... sales volume rapidly increasing

Money-Making Law

■ [Interview] "Wake up at 3 a.m." "Like it's my own work" "Take responsibility"

- Attorney Kim Sang-min selected as 'Best Lawyer'
- Diligence is his main weapon... "Works as if it's his own job"
- Actively accepts complaints "Uses them as an opportunity for reflection"
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024042917450641942

■ Prosecutors and police to share 'criminal case handling process' starting this October

- KICS introduces function to share case handling process between prosecutors and police
- Enhances data sharing between prosecutors and police... likely to strengthen responsible investigations
- Supreme Court to introduce criminal electronic litigation system by June next year
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024042917463246461

■ Heirs on alert over anticipated revision of new statutory portion clause

- Constitutional Court points out unconstitutionality related to statutory portion system
- Increased discretion and burden on courts in inheritance cases
- Future legal adjustments needed... "Contrary to public interest"
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024042917500051555

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

Terms in the News: 'Medical Reform Special Committee' held amid absence of residents and medical associations

- Medical Reform Special Committee composed of 27 members

- Specifics of four essential medical policy packages to be finalized
- Korean Medical Association and Korean Intern Resident Association absent... medical school quota agenda excluded

Today's Key Schedule

○ Domestic

- 08:00 March retail sales
- 30th KOSDAQ Jeil MNS listing, public offering price 22,000 KRW

Daejeon Munhwa Xi SK View, Incheon Gyeyang Lotte Castle Park City (Phase 2), Seoul Gaebong Louvre

○ Overseas
- 08:50 March industrial production
- 10:30 Australia March wholesale sales
- 10:30 China April manufacturing Purchasing Managers' Index
- 14:30 France Q1 GDP
- 15:00 Germany March retail sales
- 16:55 Germany April unemployment rate
- 17:00 Germany Q1 GDP
- 18:00 Eurozone April consumer price index

- 18:00 Eurozone Q1 GDP
- 21:30 US Q1 Employment Cost Index
- 23:00 US April CB Consumer Confidence Index

◇ Lunch & Commute Weather

○ Lowest temperature 13℃(▼1℃) ｜ Highest temperature: 24℃(▼3℃)
○ Precipitation probability 10% in the morning｜20% in the afternoon
○ Fine dust Moderate in the morning｜Moderate in the afternoon

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