Ants Unable to Withstand Weak Yen, Exit Japanese Stock Market [3-Minute Brief]

[3-Min Brief 3-Second Summary]
① Coupang Faces Fateful August
② Kakao Twice Disappoints Shareholders
③ PEF Heading Toward Korean Retail

MARKET INDEX

- US New York Stock Exchange's three major indices closed lower

- Stock market plunged due to disappointing Big Tech earnings
- Concerns over collapse of 'AI boom' tech stock rally

Top3 NEWS

■ "Caution on export impact in automobile and steel sectors"… Continued departure of one-stock retail investors

- Selling pressure from Japanese stock investors continues
- Weak yen negatively affects Korean exports
- Support needed for highly export-competitive items

■ Coupang faces critical August

- Fair Trade Commission's corrective order disclosed
- Legal battles likely to begin
- Membership subscription fee increase also expected

■ Even with chairman's negative news… Kakao makes shareholders suffer twice

- Kakao group stocks fall consecutively by 3~7%
- Securities firms repeatedly lower Kakao's target price
- Group's Q2 earnings outlook also bleak

Graphic News: Institutional investors → High-net-worth individuals, Private equity funds sniff money

- Global PEFs like Blackstone and KKR actively operating domestically and abroad

- Individual client share increased from 20% to 30%
- Large domestic PEFs are institution-only… limits on applying to individual clients

Profitable Law

■ Court appraisal forms a control tower

- Considering control tower to speed up appraisal procedures
- Focus on progress of construction and medical case procedures and appraisal fee realism
- "Control tower management improves both quality and speed"
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024072414074524529

■ Law firm DoshiwaSaram: "The driving force behind environmental lawsuits is anger more than money"

- Specialized law firm in environment, construction, and real estate 'DoshiwaSaram'
- About 20 registered environmental specialist lawyers by Bar Association standards
- Emphasizes "You can't do environmental lawsuits thinking about money"
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024072414094832948

■ Squids east of Tokyo 128 degrees say "Phew~"

- Constitutional Court upholds ban on large trawl fishing operations
- Judgment considering appropriateness, minimality, and balance
- "Insufficient evidence of damage to coastal fisheries"
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024072414113046979

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

Company in the News: Qoo10 caused delayed settlements at TMON and WEMAKEPRICE

- Delayed settlement issues persist at TMON and WEMAKEPRICE
- Qoo10 acquired both companies in 2022 and 2023

- Overexpansion led to overall collapse

Today's Key Schedule

○ Domestic
- 08:00 Q2 GDP
- 25th: KOSDAQ SK Securities No.13 SPAC listing, offering price 2,000 KRW
- 25th: KOSDAQ iBeam Technology subscription, offering price 10,000 KRW

○ Overseas
- 17:00 Germany July Expectations Index
- 19:00 Eurozone Finance Ministers Meeting
- 21:30 US Q2 GDP
- 21:30 US Initial Jobless Claims

&◇Lunch & Commute Weather

○ Lowest temperature 26℃(▲1℃) ｜ Highest temperature: 33℃(▲3℃)
○ Precipitation probability morning 30%｜afternoon 60%
○ Fine dust morning good｜afternoon good

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