"16 Zeros"…Global National Debt Hits Record 1,200 Trillion Won [3-Minute Brief]

[At a Glance]
① Gu Young-bae invites shareholders of TimeF merger company, saying "No legal responsibility"
② Mercedes-Benz Korea "Will cooperate in fire investigation... Free inspections from the 14th"
③ Fashion industry faces record domestic slump... Only 'Athleisure' can be trusted

MARKET INDEX : Year to date

- US New York stock market's three major indices all closed higher
- July Producer Price Index below expectations, investor sentiment recovers
- Interpreted as easing inflationary pressures

Top3 NEWS

■ "Tripled in 20 years" Global government debt reaches 12 quadrillion... record high

- Up 5.8% compared to one year ago
- Equivalent to 98% of global GDP
- Growing faster than economic growth

■ Gu Young-bae urges shareholders to join ‘Timf merger company’ saying "No legal responsibility"

- Qoo10 establishes KCCW for Timf merger
- Gu Young-bae invests in Qoo10 shares to control Qoo10
- Application states “Qoo10 bears no legal responsibility”

■ Mercedes-Benz Korea "Cooperating in fire investigation... free electric vehicle inspection from the 14th"

- Official statement from Mercedes-Benz Korea
- Supporting cause identification and follow-up measures
- Conducting free inspections for electric vehicles

Graphic News : Fashion industry faces historic domestic demand slump... hope lies in athleisure

- Five domestic fashion companies all posted declining Q2 earnings
- Demand concentrated on luxury and SPA brands... consumer polarization
- Q2 retail sales down 2.9%... largest drop in 14 years

the Chart : Foreign investors return to KOSPI

- KOSPI recovers above 2600 level with foreign and institutional net buying
- Foreign investors continue net buying of KOSPI for two consecutive days
- Buying interest returns to semiconductors which were heavily sold earlier this month

Terms in the News : CBAM, carbon tax imposed?

- A system that imposes carbon taxes on EU-exporting companies based on carbon emissions generated during product manufacturing
- Introduced to prevent carbon leakage... applies to six items including steel, aluminum, fertilizer, hydrogen, cement, and electricity
- Full implementation in 2026... domestic exporters must report 'embedded emissions' of target products when exporting to the EU

Today's Key Schedule

○Domestic
- 08:00 July Unemployment Rate

○Overseas

- 11:00 New Zealand Interest Rate Decision
- 15:00 UK July Consumer Price Index
- 15:45 France July Consumer Price Index
- 18:00 Eurozone Q2 GDP
- 18:00 Eurozone June Industrial Production
- 21:30 US July Consumer Price Index
- 23:30 US Crude Oil Inventories

◇Lunch & Commute Weather

○ Low temperature 27℃(0℃) ｜High temperature: 35℃(0℃)
○ Precipitation probability Morning 0%｜Afternoon 60%
○ Fine dust Morning Good｜Afternoon Good

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