Smooth Sailing... The Path to 'Highest Valued' Nvidia [3-Minute Brief]

[At a Glance]
①Domestic ETF Net Asset Value Surpasses 150 Trillion KRW
②Former S&P Vice Chairman: "US Inflation Remains Strong"
③'Yeondon' Hindering Theborn Korea's IPO

MARKET INDEX : Year to date

- Closed on the 19th in New York Stock Exchange for 'Juneteenth Day'

TOP 3 NEWS

■ Despite correction theories... Nvidia becomes the world's most valuable company

- Market cap of $3.34 trillion, the highest in the world
- Surpassed MS and Apple 31 years after establishment
- Stock price surged about 9 times since last year

■ Domestic ETF net assets exceed 150 trillion won

- ETF net assets total 150.6057 trillion won
- Surpassed 100 trillion won in June last year, increased by 50 trillion won
- Domestic ETFs decrease while overseas ETFs increase

■ Former S&P Vice Chairman: "US inflation is solid, interest rates may not be cut this year"

- Paul Sheard, former Vice Chairman of S&P Global
- "Inflation caused by money printing after the pandemic"
- "Government debt is high but not at a worrisome level"

the Chart : Baek Jong-won, dreaming of listing, held back by Yeondon

- Some franchise owners claim "damaged by false and exaggerated sales advertisements"
- Reported to the Fair Trade Commission, accusing headquarters of passive measures against profit deterioration
- Theborn Korea refutes, saying "No exaggerated sales promises made during franchise recruitment"

Money-making Law

■ [Texas District Court] Targeted if business located in jurisdiction

- NPE exploits legal loopholes to sue global companies in Texas District Court
- Judges favorable to patent holders cause lawsuits to pile up
- Population 70% white tends to lean towards US-national NPEs
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024061916464107229

■ 'Trial bottleneck' Constitutional Court is struggling

- Constitutional Court takes over 2 years from case receipt to resolution in recent 2 years
- Processing time keeps lengthening... the 180-day final decision rule is ineffective
- Reasons for delay include increased case filings and diversity/complexity of cases
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024061916475212901

■ Different roles of unions and works councils in Germany

- Labor unions protect and improve workers' labor and economic conditions
- Works councils participate in personnel, social, and economic issues as worker representatives
- Supervisory board oversees management... audits accounting books and assets
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024061916503729996

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

Terms in the News: The 'Inheritance Tax & Capital Gains Tax' launched by the Presidential Office

- Inheritance tax is levied only on the actual inherited property based on the heir
- Capital gains tax is imposed on gains from selling assets held for more than one year
- Internationally, many adopt inheritance tax; business circles focus on Swedish-style capital gains tax

Today's Key Schedule

○ Domestic
- 20th KOSDAQ HVM subscription, public offering price 18,000 won
- 20th KOSDAQ Innospace subscription, expected public offering price 36,400~45,600 won

○ Overseas
- 06:00 Brazil interest rate decision
- 07:45 New Zealand Q1 GDP
- 10:15 People's Bank of China June loan prime rate
- 16:30 Switzerland Q2 interest rate decision
- 17:30 Swiss National Bank press conference
- 20:00 UK June interest rate decision
- 21:00 Bank of England inflation letter
- 21:30 US initial jobless claims
- 21:30 US Philadelphia Fed June manufacturing activity index

◇ Lunch & Commute Weather

○ Lowest temperature 23℃(▲2℃) ｜ Highest temperature: 35℃(0℃)
○ Precipitation probability 10% 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.