Even Tycoons Couldn't Escape... The Terrifying 'Black Friday' [3-Minute Brief]

[3-Min Brief 3-Second Summary]
① Bezos loses 20 trillion KRW, Musk 9 trillion KRW in assets
② Gu Young-bae loses control amid TimeF crisis
③ Nearly 100,000 KRW hotel mango bingsu popularity fades

MARKET INDEX : Year to date

- KOSPI plunges to the 2600 level
- Largest drop since the pandemic
- Key question: Will it recover from the shock of the sharp decline?

Top3 NEWS

■ Bezos loses 20 trillion won, Musk 8 trillion won... 'Black Friday' crash

- On the 2nd (local time), US stock indices fell sharply
- Total assets of 500 richest Americans down $134 billion (182 trillion won)
- Zuckerberg's assets down 4.6 trillion won, Larry Page's down 4.7 trillion won

■ Koo Young-bae loses control over Qoo10 Group... Subsidiaries heading toward 'each on their own' path?

- TMON, WEMAKEPRICE, Interpark Commerce going their separate ways
- Koo Young-bae loses control even over overseas subsidiaries
- Qoo10 Group on 'disbandment course' after 14 years since establishment

■ Exports increase for 10 consecutive months... "Possible to reach $700 billion"

- July exports up 13.9% year-on-year
- Trade surplus for 14 consecutive months
- Semiconductor exports reached $11.2 billion

Graphic News: The Hermes of the shaved ice world loses steam... Cost-effective mango shaved ice is rising

- Hotel apple mango shaved ice shows poor sales
- 70,000 won shaved ice sells about 20% more

- Economic downturn and high inflation seem to have closed wallets

the Chart: 9 out of 10 people avoid buying food from abusive companies... ESG management gaining strength

- Higher education and household income correlate with higher ESG management evaluation
- 88.5% intend to reduce purchases from companies involved in abuse issues
- "An example showing consistency in behavior and intention"

Term in the News: The perilous start of electric vehicle fires, 'thermal runaway'

- Environmental changes accelerate temperature variations
- Electric vehicle explosion in Incheon apartment parking lot raises awareness
- Lithium-ion batteries react badly with water... no cooling effect

Today's Key Schedule

○ Domestic
- 06:00 July foreign exchange reserves

○ Overseas
- 08:50 Japan monetary policy meeting minutes
- 10:45 China July Caixin Services Purchasing Managers Index
- 17:00 Eurozone July Composite Purchasing Managers Index
- 22:45 US July Services Purchasing Managers Index
- 23:00 US July ISM Non-Manufacturing Purchasing Managers Index

◇ Lunch & Commute Weather

○ Lowest temperature 28℃(▲1℃) ｜ Highest temperature: 34℃(▼2℃)
○ Precipitation probability 60% in the morning｜60% in the afternoon
○ Fine dust Good in the morning｜Good in the afternoon

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