Row the boat while the water flows... Samsung Electronics to triple HBM supply [3-Minute Brief]

[3-Min Brief 3-Second Summary]
① Tax Revenue Decline Jan-Mar...Less Corporate Tax Collected
② Repeated Financial Scandals, Governance Issues
③ Contrast with Strong GDP...Sharp Drop in Industrial Production

MARKET INDEX

- US New York Stock Exchange's three major indices closed mixed
- Federal Reserve dismisses possibility of interest rate hikes
- Some rallies as investor concerns ease

Top3 NEWS

■ Samsung Semiconductor Earnings Outlook 'Clear'… HBM Supply to Triple This Year

- Memory semiconductor sales at 17 trillion KRW level
- HBM3E sales possibly reflected in Q2
- Supply volume more than triple compared to last year

■ Taxes Collected from January to March Down 2.2 Trillion KRW Compared to Last Year… Sharp Decline in Corporate Tax

- Corporate tax down 22% during the same period
- Concerns over tax revenue shortfall remain this year
- Stabilization of corporate tax and VAT is key

■ Series of Financial Scandals Controversy… "Due to Governance"

- Financial incidents at Nonghyup Bank, Nongchukhyup, etc.
- Long detection time and low recovery rate
- Financial Supervisory Service diagnoses governance weaknesses

the Chart: Unexpected Plunge in March Industrial Production Despite Strong GDP… What’s the Reason?

- Industrial production weakness contrasts with Q1 GDP
- Statistics Korea: "Base effect influence significant until last month"
- Statistics Korea: "Base effect influence significant until last month"

Money-Making Law

■ “From Next Year, PSAT Questions from Ministry of Personnel Management Will Be Included in Judicial Examination”

- From 2025, 5th-grade PSAT questions to be included in judicial exams
- Judicial Administration Office and Ministry of Personnel Management signed MOU on PSAT questions
- Civil and criminal law subjects abolished; constitution and language logic introduced
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024043017003422176

■ Living Expense Loan Imposed on Children of Severely Disabled Patients… Constitutional Court Rules "Constitutional"

- Current Automobile Damage Compensation Guarantee Act upheld by Constitutional Court
- Even if children lack capacity at loan disbursement time
- Except for disabilities and other exceptions, repayment possible after age 30
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024043017031435533

■ Call Center Falsely Received Service Fees by Manipulating Vacancy Rates… Court Rules "Bid Participation Restriction Justified"

- Manipulated counselor vacancy rates falsely to receive service fees
- Court ruled against call center company's cancellation lawsuit
- "Parental leave workers also count as vacancies… State disadvantage"
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024043017065849122

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

Term in the News: Is the Dream of the US 'Goldilocks Economy' Fading?

- An ideal economic situation where the economy grows without significant inflation
- Expectations for Goldilocks economy rise as US maintains mid-to-high 2% growth rate

- Q1 GDP falls short of expectations… concerns over stagflation

Today's Key Schedule

○ Domestic

- 08:00 April Consumer Price Index
- 09:30 Nikkei April Manufacturing Purchasing Managers' Index
- 2nd: KOSDAQ Yuanta No.16 SPAC listing, offering price 2,000 KRW

- 2nd: KOSDAQ D&D Pharmatech listing, offering price 33,000 KRW

Jeonbuk Iksan Busong I-Park Gangwon Wonju Prugio The Central

○ Overseas
- 03:00 US Interest Rate Decision
- 03:30 FOMC Press Conference
- 08:50 Japan Monetary Policy Meeting Minutes
- 10:30 Australia Trade Balance
- 17:00 Eurozone April Manufacturing Purchasing Managers' Index
- 21:30 US Initial Jobless Claims
- 21:30 US Q1 Unit Labor Costs
- 21:30 Canada March Trade Balance

- 23:00 US March Factory Orders

◇ Lunch & Commute Weather

○ Lowest Temperature 11℃(▼2℃) ｜ Highest Temperature: 24℃(0℃)
○ Precipitation Probability Morning 0%｜Afternoon 0%
○ Fine Dust Morning Moderate｜Afternoon Moderate

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