Patent Litigation in Korean SoBuJang... Foreign Companies' Intentions [3-Minute Brief]

[At a Glance]
① Difficult to Receive Unpaid Wages... Delayed Interest Is Even Harder
② "Card Companies' Strong Earnings? Q3 Report Is an Optical Illusion"
③ YouTubers' Tax Evasion Tricks... Authorities Finally Take Action

MARKET INDEX

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

- Nvidia to disclose earnings after market close on the 20th

- Tesla rises amid consideration of autonomous driving regulation easing

TOP 3 NEWS

■ Difficult to receive unpaid wages... delayed interest is even harder

- Current employees are also subject to delayed interest payments under the Labor Standards Act
- Intended to prevent wage arrears but effectiveness is questionable
- Calls for active administrative guidance from the Ministry of Employment and Labor

■ Strong performance of credit card companies?..."Q3 report card is an optical illusion"

- Credit card companies have posted net profits exceeding 2 trillion won this year
- Profitability and soundness improved through cost reduction and loan refinancing
- Some say "recession-type surplus created by squeezing costs"

■ "Earned over 1 billion won but paid zero tax?"... finally taking action against crafty tax avoidance

- Strict response to tax avoidance such as 'address laundering'
- Tax avoidance by abusing deductions by YouTubers and others
- Plan to recover the full amount of tax exemptions

Graphic News: "Foreign companies file patent lawsuits to lower prices of Korean materials, parts, and equipment"

- Concerns over competitiveness decline due to price drops... serious impact expected on semiconductor industry

- Overseas companies stimulate prices through patent disputes to restrain domestic materials, parts, and equipment companies

- Need for proactive national support and meticulous management by companies for prevention

Money-Making Law

■ Accelerated corporate case investigations... Seoul Southern District Prosecutors' Office is busy

- Raids on Kakao and Kakao Mobility... suspected violation of the Fair Trade Act
- Investigation of Gu Yeon-gyeong and Yoon Gwan couple for 'insider trading using undisclosed information'
- Financial Investigation Division 1 investigating allegations of improper loans to relatives of former Chairman Sohn Tae-seung
☞Read article: https://www.asiae.co.kr/article/2024111814033959748

■ Autonomous driving mobility teams, quietly running law firms

- Musk appointed as Minister of Government Efficiency... increased likelihood of autonomous driving regulation reform
- Law firms provide legal advice on foreign companies' entry into Korean market and exports to the US
- Automotive industry shifting focus to software... TMT experts joining
☞Read article: https://www.asiae.co.kr/article/2024111814103378432

■ 3.8 billion won fine for duplicate short selling orders is illegal

- ESK Asset Management won lawsuit to cancel fine imposed by the Securities and Futures Commission
- "Only 175,000 shares recognized as grounds for cancellation... Commission's decision should be revoked"
- "Fine calculated based on short selling order amount of about 25.1 billion won is illegal"
☞Read article: https://www.asiae.co.kr/article/2024111814221441053

※ 'Money-Making Law', a content partnership corner between Asia Economy and Law Times, is published every Tuesday and Thursday.

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- Free-to-watch, ad-supported real-time streaming TV

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Today's Key Schedule

○ Domestic

19th: KOSDAQ Synapsoft listing, offering price 24,500 won

19th: KOSDAQ Hana No.34 SPAC listing, offering price 2,000 won

19th: KOSDAQ DB Financial SPAC No.13 subscription, offering price 2,000 won

19th: KOSPI KB Balhae Infrastructure subscription, offering price 8,400 won

Daejeon Hillstate Doan River Park Complex 5 (SA1)

Daejeon Hillstate Doan River Park Complex 3 (SA2)

Chungnam Yugu CITY

Gyeonggi Acro Vestinew

Chungnam Seosan Hyrium Lake Park

Gyeonggi Munsan Station 3rd Dongmoon D-East Central

Gyeonggi Gunpo Daeyami Dietre Signature (B3)

○ Overseas

03:30 Lagarde, President of European Central Bank, speech

06:00 US September long-term overseas capital net transactions

09:30 Australia monetary policy meeting minutes

19:00 Eurozone October consumer price index

22:30 US October housing starts

22:30 Canada October consumer price index

◇ Lunch & Commute Weather

○ Lowest temperature 0℃(▲2℃) ｜Highest temperature: 10℃(▲4℃)
○ Precipitation probability 20% in the morning｜20% 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.