"Rust Belt Sweep" Trump Returns [3-Minute Brief]

[At a Glance]
① Coupang, 10 Trillion Won Sales for 2 Consecutive Quarters "Just the Beginning"
② "No Trade"... Wall Street Also Stops Betting
③ Korean Pizza Hut Undergoing Rehabilitation Process... What Happened

MARKET INDEX

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

- All hit record highs on the 'Trump Rally'

- Corporate tax cuts and deregulation pledges stimulate investor sentiment

TOP 3 NEWS

■ Trump's Return Sweeping the Rust Belt

- Expected clean sweep in 7 battleground states
- Republicans sweep both Senate and House
- Stronger US-first policy

■ Coupang Posts '10 Trillion KRW Sales' for Second Consecutive Quarter… Kim Beom-seok: "Just Taking the First Step"

- Q3 sales of 10.69 trillion KRW
- Increase in active customers and sales per capita
- "Secret to sustainable growth: Wow Members"

■ "No Trade"… Wall Street Stops Betting on the 'Neck-and-Neck' US Presidential Election

- Wall Street holds its breath amid unpredictable US election
- Mixed forecasts on Tesla, Bitcoin, etc.
- 'Trump Trade' emerges as Trump gains momentum

Graphic News: Unable to Pay 21 Billion KRW Compensation, Entering Rehabilitation Process… What Happened to Korea Pizza Hut?

- Preservation order and comprehensive injunction… creditors frozen before rehabilitation commencement

- Some franchisees sue, claiming 'difference in franchise fees' as unfair profit

- Some plaintiffs win… headquarters files appeal against appellate court ruling

Law That Pays

■ What About Inheritance Tax When Korean Americans Return to Korea?

- Korea imposes inheritance tax based on the decedent's residence
- Education expenses for children are generally not considered prior gifts
- Trust system can simplify inheritance procedures and protect assets
☞Read article: https://www.asiae.co.kr/article/2024110614111014974

■ Judiciary Without Budget Authority… Cuts from Ministry of Strategy and Finance, Then Cuts Again in National Assembly

- Survey of judges… 99.1% say "Cannot freely allocate budget"
- Half of respondents consider leaving due to low pay and excessive workload
- Calls for constitutional provisions on judiciary budget independence
☞Read article: https://www.asiae.co.kr/article/2024110614130220727

■ "Brazil Allows AI to Draft Judgments"

- International Organization for Judicial Training (IOJT) conference addresses AI
- Introduced 'similar case judgment recommendation model' and 'litigation procedure guide bot'
- "Need to provide related education and training and establish concrete guidelines"
☞Read article: https://www.asiae.co.kr/article/2024110614221084255

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

Numbers in the News: 996·896·715·007… The Other Side of China's Pursuit of Korean Semiconductors

A British individual who experienced the notorious '996 work schedule' in China's IT industry shared their story.
[Photo source=Captured from Chinese SNS]

- Baidu's VP of PR criticized for glamorizing overtime video… eventually dismissed

- Claims that China's brutal working hours fueled rapid growth of semiconductor industry

- Battery industry leader CATL works '896' schedule surpassing '996' due to overtime pressure

Today's Key Schedule

○ Domestic

08:00 September Current Account Balance

7th: KOSDAQ Tomocube listing, IPO price 16,000 KRW

7th: KOSDAQ SKem subscription, IPO price 10,000 KRW

7th: KOSDAQ MOT subscription, expected IPO price 12,000~14,000 KRW

7th: KOSDAQ Hana 34th SPAC subscription, expected IPO price 2,000 KRW

7th: KOSDAQ Witz subscription, IPO price 6,400 KRW

Gangwon Gangneung Atera

○ Overseas

00:30 US Crude Oil Inventory

06:30 Brazil Interest Rate Decision

08:30 Japan September Total Employee Wage Income

09:30 Australia September Trade Balance

12:00 China October Trade Balance

16:00 Germany September Trade Balance

21:00 UK November Interest Rate Decision

22:30 US Initial Jobless Claims

◇ Lunch & Commute Weather

○ Lowest temperature 2℃(▼1℃) ｜Highest temperature: 14℃(▲2℃)
○ Precipitation probability morning 0%｜afternoon 0%
○ Fine dust morning moderate｜afternoon moderate

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