Naver's 'Gondeun Tap' Line, Will Japan's SoftBank Acquire It? [3-Minute Brief]

[At a Glance]
① Coupang Q1 Operating Profit Down 61% YoY
② Why the Economy Feels Bad Despite Good Economic Indicators
③ "US Interest Rate Cut Likely Starting Q3"

MARKET INDEX

- US New York Stock Exchange's three major indices closed mixed
- Tech stocks declined due to Fed hawkish remarks
- Semiconductor stocks including Intel and ARM also sluggish

TOP 3 NEWS

■ Coupang's Q1 Operating Profit 53.1 Billion KRW… Down 61% YoY

- Net loss returned after 7 quarters
- Revenue exceeded 9 trillion KRW for the first time ever
- Active customers increased 16% to 21.5 million

■ Economy Shows 'Green Light' but Why Is Sentiment Poor?

- Q1 GDP growth rate exceeded expectations
- However, economic sentiment index fell below 100
- High inflation and high interest rates cause weak sentiment

■ "US Rate Cuts from Q3"…Global IBs Postpone Rate Cut Forecasts

- 10 IBs say "Rate cuts after Q3"
- 8 IBs delayed the start timing of cuts
- Number of cuts revised from 2-5 times to 1-4 times

Graphic News: Japan's SoftBank Declares Line Yahoo as Subsidiary… Naver's Position 'Shaken'

- Japan's SoftBank announced Line Yahoo and parent company A Holdings as subsidiaries
- Although Naver and SoftBank agreed, SoftBank interpreted as losing ground in justification
- In Japan, 'Messenger Line is Japanese' perception already established

Law That Pays

■ Civil Affairs Office Filled with Former Prosecutors… Focus on Managing Public and Prosecutor Sentiments

- 'Communication-oriented planners' appointed as Chief and Secretary of Civil Affairs Office
- "Civil Affairs Office revived due to criticism of lack of public sentiment listening"
- Special prosecutor situation expected… "Need to watch out for 'Yongsan becoming a law firm'"
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024050818545835338

■ "'Process Flowchart' Also a Trade Secret"… Trade Secrets Stolen to New Company

- Trial and appeal courts recognized only North American market research results as trade secrets
- Supreme Court: "Publicly announced information combination like process flowchart is a trade secret"
- "Information not normally obtainable if LG Electronics does not approve"
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024050818562438190

■ Will the Bill to Increase Judges by 370 Pass the National Assembly?

- Bill passed the legislative subcommittee after 1 year and 5 months since proposal
- To resolve trial delays, 370 judges to be added by 2028
- If passed by the Judiciary Committee, it will be submitted to the last plenary session of the 21st National Assembly
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024050818575344123

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

Terms in the News: The Starting Point of Large Corporation Regulation 'Same Person Designation System'

- Same Person Designation System is the government's designation of who the group owner is
- Aims to prevent unfair advantages to owner's relatives and obstruct fair trade
- No legal definition of 'Same Person'… Business community says "Need to clarify the term 'Same Person' first"

Today's Key Schedule

○ Domestic
- 08:00 March Current Account Balance

○ Overseas
- 02:00 US 10-year Treasury Auction
- 10:30 Australia Building Approvals
- 12:00 China April Trade Balance
- 20:00 UK April Interest Rate Decision
- 21:30 US Initial Jobless Claims
- 22:15 Bank of England (BOE) Governor Bailey Speech

◇ Lunch & Commute Weather

○ Lowest Temperature 10℃(0℃) ｜ Highest Temperature: 21℃(0℃)
○ Precipitation Probability Morning 20%｜Afternoon 0%
○ Fine Dust Morning Good｜Afternoon Moderate

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