Rediscovery of Closed Gas Fields... 'Carbon Storage Reservoir' [3-Minute Brief]

[At a Glance]
①Raw Material Investment Returns Soar
②Q1 External Debt Decreases by $5.1 Billion
③Korea to Launch 'AI Safety Research Institute' Within the Year

MARKET INDEX

- US New York stock market's three major indices all fell
- FOMC minutes suggest delay in interest rate cuts
- Current interest rates expected to be maintained longer than anticipated

TOP 3 NEWS

■ Soaring Prices Drive High Returns on Commodity Investments

- Commodity funds posted a 17% return over the past three months
- Natural gas and silver ETNs rank among top performers
- Commodity prices expected to remain strong in the second half

■ External Debt in Q1 at $667.5 Billion… Decreased by $5.1 Billion from Year-End

- Ministry of Economy and Finance announced Q1 debt trends on the 22nd
- Short-term external debt with maturity under one year increased by $300 million
- Ministry states "Closely monitoring external debt trends"

■ South Korea to Launch AI Safety Research Institute within the Year… Government, Private Sector, and Academia to Build Global Network

- President Yoon mentioned it first in the opening speech at the AI Seoul Summit
- Similar institutes established consecutively in the US, UK, Japan, etc.
- Collaboration model with private sector being developed… Budget discussions underway

Graphic News: Abandoned Gas Fields Gaining Attention as ‘Carbon Storage’ Sites

- Fossil fuels to renewable energy bridge… CO2 captured at power plants and others
- Injected into empty spaces left by oil drilling to avoid atmospheric impact
- Oil developers face a turnaround opportunity to transform into eco-friendly companies

Money-Making Law

■ Law Firms Targeting Africa

- US-China tensions, de-China trend, and carbon neutrality policies
- Korean companies eye Africa… Major law firms stepping in
- Will a ‘new market’ open? Attention on the ‘Korea-Africa Summit’
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024052214114220645

■ More ‘Family Law Firms’ with Sons and Daughters

- Not only sons and daughters but also sons-in-law and daughters-in-law share the same office
- Collaborate on cases, share profits, creating "synergy effects"
- However, some view children as relying on the reputation of their retired parents
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024052214154351549

■ Lee Seung-tae, CEO of ‘City and People’: "Lawyers Are Workers Too… Let’s Build a Happy Law Firm"

- Law firm City and People unusually had two employees take parental leave simultaneously recently
- "Though it may be seen as a financial expense at first, it brings happiness to members"
- After a survey of all employees, ‘flexible working system’ and ‘reduced working hours’ will be implemented next month
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024052214202078193

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

Terms in the News: "Stop Fake News"… ‘AI Watermark’

- AI Watermark is a logo embedded in digital images and documents created using AI technology
- A countermeasure against fake news exploiting deepfakes… Proposal to mandate watermarking on AI-generated content
- Helps users easily identify AI-generated content to prevent confusion

Today's Key Schedule

○ Domestic
- 10:00 May interest rate decision
- 23rd KOSDAQ No Brand listing / IPO price 14,000 KRW

○ Overseas
- 03:00 US Federal Open Market Committee minutes
- 09:30 Japan May manufacturing and services Purchasing Managers Index
- 17:00 Eurozone May Markit Composite PMI
- 17:30 UK Composite PMI
- 21:30 US initial jobless claims
- 22:45 US May Composite PMI
- 23:00 US April new home sales

◇ Lunch & Commute Weather

○ Lowest temperature 15℃(▼1℃) ｜ Highest temperature: 26℃(0℃)
○ Precipitation probability morning 0%｜afternoon 0%
○ Fine dust level morning moderate｜afternoon moderate

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