"4 Years of Missed '30 Trillion Won Tax Revenue Shortfall': Where Did It Slip Away? [3-Minute Brief]"

[At a Glance]
① Bank of Korea "Concerns Over Rising House Prices and Household Debt Due to Interest Rate Cuts"
② MBK and Yeongpung Raise Public Tender Offers...Korea Zinc Says "Opposed"
③ This Year's Tax Revenue Shortfall of 30 Trillion Won, Government Forecast Misses for 4th Consecutive Year

MARKET INDEX : Year to date

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

- Strong economic growth rate and unemployment benefits in Q2 this year

- Semiconductor boom leads to increase in Q2 construction contract amounts

Top3 NEWS

■ Bank of Korea "Concerns over rising house prices and household debt due to interest rate cuts... proactive management is important"

- Bank of Korea Financial Stability Report
- Calls for proactive government policy measures
- Urges to reduce financial vulnerabilities

■ MBK and Young Poong raise public tender offer... Korea Zinc "Strongly oppose the increased offer price"

- MBK increases investment by 300 billion KRW
- Public tender offer period only 5 trading days
- Will Korea Zinc counterattack with allies?

■ This year's 'tax revenue shortfall' 29.6 trillion KRW... government forecasts off for 4 consecutive years

- Ministry of Economy and Finance 2024 tax revenue re-estimation results
- Corporate earnings worsen, capital gains tax also plummets
- Using available resources to overcome tax revenue deficit

Graphic News: Where did the 30 trillion KRW tax revenue shortfall come from... 23 trillion KRW hole in corporate and income taxes

- Largest ever 'tax revenue shortfall' occurs... two consecutive years of large forecast errors realized

- Global trade contraction and semiconductor industry downturn... corporate tax revenue sharply declines compared to last year

- Government: "No supplementary budget requiring national bond issuance... burden on future generations will increase"

the Chart: Major investors say "K-Value Up index is difficult to use as an investment indicator"

- "Only declarative meaning... no reference for investment strategy," a cold evaluation

- Unverified narrow range of stocks, no reason to take risks and invest

- Investors say "Fundamental changes in companies and systems that make up the market are needed rather than index development"

Person in the News: Assisted suicide capsule 'Sarco' developer, death doctor 'Philip Nitschke'

Philip Nitschke inside the tidal power capsule device 'Sarco'
[Photo by AP Yonhap News]

- First death case using 'Sarco', 64-year-old American woman... Nitschke arrested on charges of assisting and inciting suicide

- World's first euthanasia law passed in Australia in 1995... "Peaceful death is everyone's right"

- Switzerland: "Use and sale of Sarco violate current laws related to safety regulations and chemicals"

Today's Key Schedule

○Domestic

06:00 Manufacturing Business Survey Index

○Overseas

08:30 Japan September Tokyo Consumer Price Index

10:30 Reserve Bank of Australia Financial Stability Report

15:45 France September Eurozone Harmonized Index of Consumer Prices

16:55 Germany September Unemployment Rate

21:30 US August Personal Consumption Expenditure Price Index

21:30 Canada July GDP

23:00 US September University of Michigan Consumer Sentiment Index

23:30 Atlanta Fed Q3 GDPNow

◇Lunch & Commute Weather

○ Low temperature 19℃(▼2℃) ｜High temperature: 28℃(▲1℃)
○ Precipitation probability 20% in the morning｜20% in the afternoon
○ Fine dust Good in the morning｜Good in the afternoon

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