Fear of Labor Costs... Rapid Increase in Unmanned Order Machine Installations [3-Minute Brief]

[At a Glance]
① Financial Sector and Industry's 'Bulletproof Glass Ceiling'
② KDI Raises Growth Forecast to 2.6%
③ National Pension Service Invests 100 Trillion in US Stocks

MARKET INDEX

- US New York Stock Exchange's three major indices all declined
- Late session gave up gains for a breather
- New unemployment claims decreased

TOP 3 NEWS

■ 'Bulletproof Glass Ceiling' in Finance and Industry

- Survey of 77 companies: 23% in finance, 27% in corporations
- Banks are the most passive, securities firms similar
- 6 out of 10 outside directors in companies are professors

■ KDI Raises Growth Forecast for This Year from 2.2% to 2.6% Following Surprise Q1 Growth

- First upward revision among government agencies
- Reflecting strong Q1 growth
- "Interest rates should also move neutrally"

■ National Pension Service's Direct Investment in US Stocks Surpasses 100 Trillion KRW for the First Time

- Up 16% from last quarter, 52% from a year ago
- M7 stock holdings increased by at least 5% over the year
- 41 new stocks added in Q1 alone

Graphic News: Flood of New 100 Billion KRW Funds... VC 'Secondary Boom'

- Only one 100 billion KRW 'secondary fund' existed until last year; three created this year alone
- Total venture funds maturing this year amount to 7.5645 trillion KRW... IPO and M&A routes insufficient
- Policy support too... Ministry of SMEs and Startups revives 'general secondary' fund under the Korea Fund of Funds

the Chart: "Scared of Labor Costs"... Surge in Unmanned Ordering Machines at Food Service Companies

- Adoption rate of unmanned ordering machines in food service increased fivefold since 2019
- Higher usage in franchises and companies with large sales
- Use of unmanned ordering machines leads to decrease in regular employees and increase in irregular workers

Term in the News: Controversy over the '5-Second Rule' for Food Dropped on the Floor... NASA Also Weighs In

- The rule that food eaten within 5 seconds of dropping on the floor is hygienically safe
- NASA scientists also say "partly true... the sooner you pick it up, the better," supporting the 5-second rule
- Amid controversy, the '5-second rule' was registered as a neologism in the Oxford English Dictionary in late 2014

Today's Key Schedule

○ Domestic
- 08:00 April Unemployment Rate
- 08:55 April Trade Balance
- 17th KOSDAQ KB No.28 SPAC Listing / Offering Price 2,000 KRW
- 17th KOSDAQ ICTK Listing / Offering Price 20,000 KRW

○ Overseas
- 05:30 Fed Balance Sheet
- 11:00 China April Industrial Production
- 11:00 China April Unemployment Rate
- 18:00 Eurozone April Consumer Price Index

◇ Lunch & Commute Weather

○ Lowest Temperature 12℃(▲3℃) ｜ Highest Temperature: 24℃(▲3℃)
○ Precipitation Probability Morning 10%｜Afternoon 0%
○ Fine Dust Morning Moderate｜Afternoon Moderate

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