Heatwave and Rising Prices... Traditional Markets Face 'Double Hardship' [3-Minute Brief]

[At a Glance]
① Exports from August 1-20 total $33.1 billion
② SK On decides to invest in US 'Saku'
③ Traditional markets face dual challenges of heatwave and inflation

MARKET INDEX

- US New York Stock Exchange's three major indices all closed higher
- Investors buy confidently expecting a rate cut in September
- Attention on Fed Chair Powell's Jackson Hole speech on the 23rd

TOP 3 NEWS

■ Exports up 18.5% through the 20th of this month… Semiconductor and automobile key items show strong performance

- Export value reached $33.1 billion through the 20th of this month
- Exports increased in 9 out of the top 10 major export items
- "Trade surplus trend expected to continue"

■ [Exclusive] SK On accelerates solid-state battery development… invests in US 3D printing company

- SK On decided to invest $25 million in US company 'Saku'
- Strategic investment to innovate electrode manufacturing process
- Expected to expedite commercialization of solid-state batteries

■ Seoul City demands charging limit certificates VS Hyundai claims full charge is safe

- Seoul City pushes policy to limit electric vehicle charging to 90%
- Public chargers in public parking lots limited to 80% charge rate
- Hyundai criticizes Seoul City's policy based on technical grounds

Graphic News: Traditional markets facing 'double hardship' from record heatwaves and inflation

- Heatwaves and monsoon cause agricultural product prices to soar… customer visits drop sharply
- "Please come inside" ? overshadowed by large supermarkets' air conditioning
- "Prices expected to stabilize as reserve supplies are released by Chuseok"

Law That Pays

■ Major law firms in 'Kakao litigation Olympics'

- Kakao case prolonged… surge in demand for legal arguments
- Concentration of criminal defense capabilities… many former officials involved
- Final outcome hinges on Chairman Kim Beom-su's trial
☞Read article: https://www.asiae.co.kr/article/2024082114010410463

■ 'Why only me...' The plight of electric vehicles

- Consecutive electric vehicle fires… underground parking bans spreading
- Difficult to extinguish due to battery characteristics… large scale damage
- "Concerns over basic rights infringement, government-level efforts needed"
☞Read article: https://www.asiae.co.kr/article/2024082114030016846

■ Will the Central District Prosecutors' Office draw the sword on corporate affairs?

- Fair Trade Commission accuses Sampyo Industry… suspected violation of Fair Trade Act
- Considered unfair support to second-generation company owners
- Support scale not small, possibility of exercising right to request indictment
☞Read article: https://www.asiae.co.kr/article/2024082114094744099

※ 'Law That Pays,' a content partnership corner between Asia Economy and Legal Newspaper, is published every Tuesday and Thursday.

Person in the News: 'Harris Surge' shakes up 'Sun Belt' political landscape

Vice President Kamala Harris. Photo by Yonhap News

- Kamala Harris threatens Trump in the 'Republican stronghold' Sun Belt

- Washington Post analyzes its own prediction model… forecasts Harris's victory

- "Trump must win all 7 battleground states to maintain current standings"

Today's Key Schedule

○ Domestic

- 10:00 August interest rate decision

- 22nd KOSDAQ M83 listing, public offering price 16,000 KRW

- 22nd KOSDAQ Daishin Balance No.18 SPAC listing, public offering price 2,000 KRW

- 22nd KOSDAQ Ice Cream Media subscription, public offering price 32,000 KRW

○ Overseas

- 03:00 US Federal Open Market Committee minutes

- 17:00 Eurozone August composite Purchasing Managers' Index

- 17:30 UK August composite Purchasing Managers' Index

- 20:30 India RBI MPC minutes

- 21:30 US initial jobless claims

- 22:45 US August Markit composite Purchasing Managers' Index

- 23:00 US July existing home sales

◇ Lunch & Commute Weather

○ Lowest temperature 27℃(0℃) ｜Highest temperature: 31℃(▲1℃)
○ Precipitation probability morning 80%｜afternoon 80%
○ Fine dust morning good｜afternoon good

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