The Story Behind Starbucks Changing Price Tags After 30 Months [3-Minute Brief]

[At a Glance]
① Starbucks Price Adjustment from the 2nd
② Safety Investigation of Food Items by Ali and Others
③ ‘Yono-jok’ with Different Consumption Patterns

MARKET INDEX

- US New York Stock Exchange's three major indices closed higher
- Positive reaction to possible interest rate cut discussions in September

- Technology stocks, led by semiconductors, rose significantly

TOP 3 NEWS

■ [Why&Next] Distribution M&A 'Finding New Owners' Faces Difficulties… TMEF Hit by 'Cold Water'

- Homeplus Express sale stagnant for two months
- No progress in e-commerce 11st and SSG.com M&A either
- "Market sentiment negative after TMEF incident"

■ [Exclusive] Government to Investigate Food Safety of Ali and Temu

- Scheduled to start safety investigation of agricultural and marine products including Ali in August
- Due to increased safety risks from low-quality food
- Fine of 10 million KRW if origin is not indicated

■ From New York to LA… Korean Institutional Investors Embarrassed by Failed US Real Estate Investments

- Bloomberg highlights cases of domestic asset management firms' failures in US commercial real estate investments
- Domestic firms suffered large losses investing in commercial real estate in the US West Coast following the East Coast
- -"Korean firms bought without being prepared for downside scenarios," critics say

the Chart: Tearful Price Increase?… Starbucks' Complex Calculation Behind the Scenes

- Starbucks adjusts prices for the first time in 2 years and 6 months
- Beverage prices expected to rise by up to 600 KRW or more
- Prices for tall size, which accounts for a large share of sales, remain unchanged

Profitable Law

■ Yulchon Joins Legal Team for SK Chairman Chey Tae-won's Divorce Appeal

- Divorce lawsuit between SK Group Chairman Chey Tae-won and Art Center Nabi's Noh So-young
- Yulchon joins legal team following LG inheritance dispute
- Lawyers with expertise in Supreme Court appeals and family law cases
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024073120101563511

■ Former KH Philux Executives Indicted and Detained for Embezzling 63.1 Billion KRW in Cancer Drug Development

- Manipulated stock prices through false disclosures to gain unfair profits of about 60 billion KRW
- Three former executives including Vice Chairman Ahn arrested and indicted
- Fled overseas but caught and repatriated via Interpol red notice
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024073120115666270

■ "Copyright Protection Needed So the Public Can Enjoy Dance Culture More"

- '2024 Summer Choreography Seminar' held
- About 100 choreographers, legal professionals attended
- "Need to improve awareness and education for choreographers"
☞Read article: https://www.asiae.co.kr/article/lawtimes/2024073120131969714

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

Terms in the News: 'YOLO' is Out, 'YONO' is In

- Acronym for You Only Need One
- A consumption pattern that reduces unnecessary spending
- Popular among young people due to ongoing '3 highs'

Today's Key Schedule

○ Domestic

- 09:00 July Trade Balance
- 09:30 July Manufacturing Purchasing Managers' Index
- Day 1 KOSDAQ Bankware Global subscription, public offering price 16,000 KRW

- Day 1 KOSDAQ Kyobo 16 SPAC subscription, expected public offering price 2,000 KRW

- Chuncheon Atera Edu Park

○ Overseas
- 03:00 US Interest Rate Decision
- 03:30 FOMC Press Conference
- 06:00 Brazil Interest Rate Decision
- 10:30 Australia June Trade Balance
- 10:45 China Caixin July Manufacturing PMI
- 17:00 Eurozone July PMI
- 18:00 Eurozone June Unemployment Rate
- 20:00 UK August Interest Rate Decision

- 21:30 US Initial Jobless Claims
- 22:45 US July Manufacturing PMI

- 23:00 US July ISM Manufacturing PMI

◇ Lunch & Commute Weather

○ Lowest temperature 26℃(0℃) ｜ Highest temperature: 33℃(0℃)
○ Precipitation probability morning 60%｜afternoon 30%
○ Fine dust morning good｜afternoon good

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