Precious Cocoa Surpasses Copper [3-Minute Brief]

[At a Glance]
①Global Corporate Tax, an Unprepared Tax Bomb
②VAT Also Fails, Yoon's Economic Policy Crisis Theory
③'Leek Controversy' Nonghyup Distribution, Ultimately Capital Erosion

MARKET INDEX

- US New York stock market's three major indices closed mixed
- Nvidia stock price rose 2%, leading tech stocks higher
- Aftermath of jeonse fraud... increased preference for apartments

TOP 3 NEWS

■ 64% of top 50 companies "Tax liability and scale unknown"... Unprepared for tax bomb

- Global minimum corporate tax implemented from this year
- Domestic large companies unable to even identify if they are subject
- Concerns over restriction of free overseas business activities

■ VAT reduction virtually scrapped... Growing crisis theory on 'Yoon's economic policy'

- Risk of major economic pledges being blocked in legislation
- Yoon administration in crisis amid 'minority ruling' situation
- Temporary 5% VAT rate cut difficult

■ 'Green onion controversy' Nonghyup Distribution ends up with capital erosion... Affiliate integration 'failure'

- Nonghyup Distribution experienced partial capital erosion last year
- Capital stock 303.4 billion KRW > total capital 274.2 billion KRW
- Accumulated deficits since 2021 distribution affiliate integration

Graphic News: Cocoa more expensive than copper

- Cocoa prices soared beyond copper due to climate change
- Production countries' drought reduced harvest... compounded by supply disruption concerns
- "Need to improve climate adaptability through variety improvement in response to climate change"

Money-Making Law

■ Will the next three Supreme Court justices be 'former high court chief justices'?

- Among 55 Supreme Court justice candidates, 32 are current high court chiefs... accounting for 58.2%
- Also candidates from senior judicial research officers... expected to help smooth appellate court processing
- Total of 6 female candidates... high possibility of appointment due to female justice retirement
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024052013551191056

■ Young judges say "Work-life balance is important"

- Supreme Court Chief Justice discusses ways to support 'work-life balance' during court visits
- MZ generation judges request improved work environment to Chief Justice
- Expansion of smart work and establishment of smart work centers in Supreme Court building
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024052013562896534

■ Office-tel owner’s application to change to 'private construction rental housing' rejected

- Mr. A reported changing newly built officetel to 'private construction rental housing'
- Application rejected as registration as construction rental business operator is only possible when for rental purposes
- Court: "No units sold... aligns with purpose of private construction rental housing"
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024052013580913766

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

Term in the News: Without 'KC Certification', 'Al·Te·Sh direct purchase' not possible

- KC certification mark unifies safety, health, environment, quality certification systems
- Mandatory to display when distributing or selling certain legally specified products
- Overseas manufactured products must also obtain KC certification after safety confirmation

Today's Key Schedule

○ Domestic
- 06:00 May Consumer Confidence Index
- 21st KOSDAQ Mirae Asset Vision SPAC No.4 subscription / public offering price 2,000 KRW

- Gyeonggi Icheon Xi The Rev
- Gyeonggi Osan Segyo 2 Hanshin The Hue (A16)
- Gyeonggi Yangpyeong Haneulchae Centro Hills
- Gyeonggi Gimpo Bukbyeon Woomirin Park Live

○ Overseas
- 10:30 Australia Monetary Policy Meeting Minutes
- 17:00 US Treasury Secretary Yellen speech
- 17:00 ECB President Lagarde speech
- 18:00 Eurozone March Trade Balance
- 21:30 Canada April Consumer Price Index
- 22:05 FOMC members speech

◇ Lunch & Commute Weather

○ Lowest temperature 16℃(▲1℃) ｜ Highest temperature: 28℃(▲5℃)
○ Precipitation probability morning 30%｜afternoon 0%
○ Fine dust morning moderate｜afternoon moderate

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