'Chipwo' Author: "On the Way to China, the US Intervenes Again" [3-Minute Brief]

[3-Min Brief 3-Second Summary]
① 'Board Duty Fulfillment' Commercial Act Amendment Rekindled in National Assembly
② Key to US Interest Rate Cut This Year Is FOMC 'Dot Plot'
③ Nvidia to Establish Taiwan R&D Base Within 5 Years

MARKET INDEX

- US New York Stock Exchange's three major indices all closed higher
- Moderate rise as tech stocks including Meta increased
- Seoul apartment gift tax rate lowest in 7 years

Top3 NEWS

■ 'Chip War' Chris Miller: "China's Semiconductor Fund Will Deliver Results but Faces Limits Due to US Sanctions"

- China invested heavily over 10 years... localization of production
- However, semiconductor self-reliance will be limited for the time being
- US expected to introduce CHIPS Act 2.0

■ Revision of 'Duty of Loyalty of Directors' in Commercial Act Rekindled in the 22nd National Assembly

- Democratic Party's Jeong Junho proposed amendment on the 5th
- Representative Park Jumin also plans to reintroduce the bill
- Changed atmosphere, Ministry of Justice as the main ministry is also considering

■ Will the US Cut Interest Rates 1-2 Times or Not at All This Year? This Week's FOMC Focuses on the 'Dot Plot'

- US FOMC regular meeting on June 11-12
- Rate freeze likely again
- Dot plot and economic outlook summary updated

the chart : NVIDIA to Establish Taiwan R&D Base Within 5 Years

- NVIDIA plans to build an R&D center in Taiwan and hire over 1,000 employees
- Advantages in Taiwan's semiconductor supply chain including design, manufacturing, and post-processing expected to increase
- CEO: "Taiwan is an irreplaceable investment destination, continuous investment planned"

Money-Making Law

■ "Former Chairman Choi Jong-hyun's Income Alone Could Not Acquire Taepyeongyang Securities"

- SK divorce appeal trial between Choi Tae-won and Noh So-young focuses on capital formation
- Both sides: "At that time, acquisition of Taepyeongyang Securities was impossible with personal income alone"
- "Funds raised through affiliates" vs "Funds provided by former President Noh"
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024061015170038517

■ Courts Losing 'Triangle Squadron' Culture: Taking Leave Before, Eating Separately

- Protocol culture disappearing and personal life respected
- Increase in MZ generation proportion... changes expected to accelerate
- "Still awkward but also comfortable in some ways"
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024061015183043622

■ LEET Boom Driven by Employment Difficulties... Nearly 19,400 Applicants This Year

- LEET registration reached 19,400, the highest ever
- 10 consecutive years of increase... up 11.8% from last year
- Admission quota 2,000... only 1 in 10 admitted
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024061015195455015

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

Term in the News: 'Actgeo' Analyzing Oil and Gas Reserves in the East Sea

- Deep-sea exploration and evaluation consulting company established in Houston, USA
- Has supported projects not only in Korea but also in Kazakhstan

- "Actgeo was selected as an evaluation company through a fair bidding process"

Today's Key Schedule

○ Domestic

- 08:00 April Current Account Balance
- June 11 Subscription for KOSDAQ Mirae Asset Vision SPAC No.5, expected offering price 2,000 KRW
- June 11 Subscription for KOSDAQ Korea SPAC No.14, offering price 2,000 KRW

- June 11 Subscription for KOSDAQ Sears Technology, offering price 17,000 KRW
- June 11 Subscription for KOSDAQ Hanjoong NS, offering price 30,000 KRW
- June 11 Subscription for KOSDAQ KB SPAC No.29, expected offering price 2,000 KRW

- June 11 Subscription for KOSDAQ HMC SPAC No.7, offering price 2,000 KRW


- Busan e-Pyeonhansesang Beomil International Financial City
- Busan Yangjeong Lotte Castle Frontiel
- Gyeongnam Honors Welga Jinju
- Ulsan Mugeo Vista Dongwon
- Busan Dongnae Historic Park Daekwang Roje Biang
- Gangwon The Sharp Sokcho Prime View
- Gyeonggi Godeok International New Town Seohan Idaeum Grayton (A15)
- Seoul Gangbyeon Station Central I-Park

○ Overseas
- 02:00 US 3-year Treasury bond auction
- 10:30 Australia National Bank May Business Confidence Index
- 15:00 UK April Unemployment Rate
- 20:00 OPEC Monthly Report

◇ Lunch & Commute Weather

○ Lowest temperature 20℃(▲1℃) ｜ Highest temperature: 31℃(▲2℃)
○ Precipitation probability 0% in the morning｜0% in the afternoon
○ Fine dust Moderate in the morning｜Moderate in the afternoon

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