Empty-handed Due to Empty-handed National Assembly... Even K-Chips and AI Act Left Empty-handed [3-Minute Brief]

[3-Min Brief 3-Second Summary]
① LSE Aims to Regain Financial Hub Prestige
② SPAC IPOs Remain Hot This Year
③ Missing Tax Base Date Means 'Tax Bomb'

MARKET INDEX

- US New York Stock Exchange's three major indices all closed lower
- Treasury bond demand worsened for the second consecutive day
- Expectations of delayed Fed rate pivot also weigh

Top3 NEWS

■ Farewell to the 21st National Assembly... K-Chips and AI Bills Also Disappear

- Delays in corporate investment and new industry decision-making
- "Prompt processing needed to enhance industrial competitiveness"
- Discarded pending bills to be reintroduced in the next assembly

■ "Step Aside, New York"... UK Aims to Restore Financial Hub Prestige

- LSEG was once among the world's top three exchanges
- Declined due to failure to attract emerging IT companies
- UK is committed to revival through voting rights reforms

■ Hot SPACs Again This Year, Increasing New Listings and Numerous Merger Cancellations

- 15 new SPACs listed so far this year
- More than the same period in 2022
- Stricter screening leads to many cancellations

Graphic News: Missing the Tax Base Date Means a 'Tax Bomb'

- Tax base date for property such as houses and land is June 1
- Ownership must be transferred after June 2 to avoid tax burden
- Comprehensive real estate tax has the same tax base date... Consider base date when trading

Money-Making Law

■ "First Step to Creating an AI Ecosystem in the Courts"

- Judiciary takes first step in AI model development... lectures are highly attended
- "Stable establishment of intelligent judicial service system planned"
- Developing chatbot to guide litigation procedures... preventing data leaks is key
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024052914351689625

■ Record High Number of Applicants for Judicial Scriveners, Labor Consultants, and Tax Accountants

- Increase in professional exam takers due to employment difficulties and job insecurity
- Judicial scrivener competition ratio 63.5 to 1... 2.5 times higher than 10 years ago
- Tax accountant and labor consultant exam takers also increased... high pass rates in 20s and 30s
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024052914370499292

■ Africa's ESG Story: Environmental Regulations in Kenya and Nigeria

- Africa has the lowest per capita carbon emissions worldwide
- Inadequate climate change response due to expansion of basic infrastructure
- Kenya and Nigeria join efforts to strengthen ESG environmental regulations
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024052914382812676

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

Term in the News: NCSoft Accelerates Development of 'Large Language Model (LLM)'

- NCSoft is making an all-out effort to develop the LLM VARCO

- LLM trained through text to understand context and provide answers

- VARCO LLM 2.0 increases pre-training compared to previous models

Today's Key Schedule

○ Domestic

○ Overseas
- 03:00 US Beige Book
- 04:30 Australia April Building Approvals
- 18:00 Eurozone April Unemployment Rate
- 21:30 US Q1 GDP
- 21:30 US Initial Jobless Claims

◇ Lunch & Commute Weather

○ Lowest temperature 15℃ (0℃) ｜ Highest temperature: 26℃ (▼1℃)
○ Precipitation probability: Morning 20%｜Afternoon 30%
○ Fine dust: Morning Moderate｜Afternoon Good

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