K-Convenience Stores Surpass Original Japanese Swords [3-Minute Brief]

[At a Glance]
① Why 'Large Corporations' Paid-in Capital Increase' Has Sharply Decreased
② The Return of Strong Dollar, Dollar Deposits Also Decline
③ Real Estate Holding Back Consumption Power of Korean Elderly

MARKET INDEX

- US New York Stock Exchange's three major indices closed higher
- Indices strengthened supported by tech stock rally
- Focus on this week's employment data and FOMC minutes

TOP 3 NEWS

■ South Korea Surpasses Japan as 'Convenience Store Powerhouse'... Number of Stores 'Reversed'

- Japan's convenience stores have decreased for 23 consecutive months
- Aging population and chronic labor shortages
- South Korea adds 1,000 stores annually

■ Despite Deteriorating Financial Structure... Why 'Large Corporations' Paid-in Capital Increase' Has Sharply Declined

- LGD was the only large corporation to increase paid-in capital in the first half
- Major shareholders reluctant to inject large-scale funds
- Improving financial structure through 'perpetual bonds' instead of capital increase

■ The Return of 'Strong Dollar'... Dollar Deposits Plummet by $9 Billion in Half a Year

- Won-Dollar exchange rate threatens 1,400 won level
- Commercial banks' dollar deposits decreased by 12 trillion won
- Dollar value rises prompting profit-taking

Graphic News: Elderly Consumption Hampered by Real Estate

- According to 2020 survey, 96.6% of South Korean elderly leisure activities involve 'TV and radio'
- Reason for lack of active leisure cultural activities linked to 'financial situation'
- Money earned so far tied up in real estate, making liquidation difficult

Money-Making Law

■ Career Prosecutor Selection Without Written Exam... Lowering the Bar Attracted Talent

- For the first time ever, career prosecutor selection introduced no written exam... 529 applicants, 27 passed
- Law school graduates who passed the bar exam boldly skipped written tests due to burden
- Conducted discriminative evaluations including job performance, presentation skills, and interviews with prosecutor-level officials
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024070114092242129

■ Court Budget Officer 'Judicial Registration Director' Returns to Judge... Appointment of Chief Judge Lee Guk-hyun

- Previously, to avoid legal administrative office becoming judge-dominated, judicial registration director was a general public official
- Judicial registration director responsible for court budget affairs reappointed as judge
- Supreme Court Chief Justice: "Budget cuts are a major cause of trial delays... will strive to secure budget"
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024070114111751940

■ Law Firm Daeryuk Aju: "Communication Skills That AI Cannot Replace Are Important"

- Attorney Park Sang-soon in charge of recruitment at Daeryuk Aju Law Firm explains ideal talent
- "Remember an intern who introduced themselves cheerfully... ability to leave an impression is important"
- "Emphasizes communication skills and responsibility to clients that AI cannot substitute"
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024061715162965296

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

Terms in the News: Intensified AI Sovereignty Competition 'Sovereign AI'

- Sovereign AI refers to AI independently built by countries or companies using their own infrastructure and data
- The word 'sovereign' means 'autonomous', representing 'AI sovereignty'
- Utilized in various fields including local language model development, national defense, financial security, and climate change response

Today's Key Schedule

○ Domestic
- 08:00 June Consumer Price Index
- 2nd: KOSPI ShiftUp subscription, expected public offering price 47,000~60,000 won
- 2nd: KOSDAQ Innospace subscription, public offering price 43,300 won
- 2nd: KOSDAQ Ebest SPAC No.6 subscription, expected public offering price 2,000 won

- Gangwon Daesang Wellaum Hongcheon
- Gyeonggi Sanseong Station Heriston
- Gyeonggi Goyang Janghang Kaibeu Vora (M1)
- Gyeonggi Gwacheon Dietre Prestige (S2)
- Seoul Mapo Xi Hillstate Rachels
- Busan Blanc Summit 74

○ Overseas
- 01:00 US Atlanta Fed GDPNow for Q3
- 04:00 Speech by ECB President Lagarde
- 10:30 Australia May Retail Sales
- 18:00 Eurozone June Consumer Price Index
- 22:30 Speech by Fed Chair Powell
- 23:00 US Department of Labor May JOLTs

◇ Lunch & Commute Weather

○ Lowest temperature 24℃(▲1℃) ｜ Highest temperature: 25℃(▼4℃)
○ Precipitation probability morning 60%｜afternoon 90%
○ Fine dust morning good｜afternoon good

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