Bank of Korea's 'Surprise' Rate Cut Amid Low Growth Concerns [3-Minute Brief]

[At a Glance]
① Base Interest Rate Cut from 3.25% to 3.00%
② Intensifying Price Competition in the Electric Vehicle Market
③ Game Stocks Rebound on Anticipation of Major Releases

MARKET INDEX : Year to date

- On the 28th (local time), the US New York Stock Exchange was closed for Thanksgiving Day

Top3 NEWS

■ Surprise rate cut despite exchange rate concerns... Lee Chang-yong: "Concerns over Trump and export slowdown were significant"

- Bank of Korea defied market expectations and cut the base interest rate twice consecutively
- Base interest rate cut by 0.25%p... from 3.25% to 3.00% per annum
- Likely lowered rates faster than expected due to potential economic downturn

■ US cryptocurrency industry urges Trump to "stockpile Bitcoin as a strategic asset"

- US cryptocurrency industry says "Trump should take a more aggressive stance"
- "If cryptocurrency value surges, national debt can be repaid"
- Experts are skeptical... "Future prices are unpredictable"

■ Chinese BYD demands "10% reduction in parts prices"... Electric vehicle 'cutthroat competition' heats up

- Chinese BYD, considered a rival to Tesla electric vehicles
- Requests quotes with 10% reduction in parts prices by the 15th of next month
- Intends to lead in price competition and cutthroat rivalry

Graphic News: "Expectations for app fee reduction and new releases"... Rebounding 'Game Stocks'

- Kakao Games, Shift Up, Com2uS, etc. show rising stock prices

- Collective adjustment citing "excessive in-app payment fees by Google and Apple"

- "Significant contribution to earnings improvement, immediate profitability improvement expected"

the Chart: VCs seek breakthrough through overseas investments... Investment amount up 29% in one year

- VCs looking for new growth engines abroad increase investments in the US

- Actively entering markets including the US, Japan, India, and Indonesia amid 'market boom'

- Domestic market stagnation continues... Unicorns missing and IPO market contraction

Person in the News: Kim Ji-yeon, winner of the Hyundai Literary Award, "A writer beloved by literary figures"

Writer Ji-yeon Kim. Modern Literary History

- Praised for "seeing literary possibilities unexplored in Korean literature"

- Debuted in 2018 with 'Jakjeonggi'... unanimous winner of the Munhakdongne New Writer Award

- Ranked 2nd in '50 Novelists' selection of the year's best novel hosted by Kyobo Bookstore

Today's Key Schedule

○Domestic

08:00 October Retail Sales

08:00 October Industrial Production

29th KOSPI KB Balhae Infrastructure listing, public offering price 8,400 KRW

○Overseas

08:30 Japan November Tokyo Core Consumer Price Index

08:50 Japan October Industrial Production

16:00 Germany October Retail Sales

16:45 France Q3 GDP

17:55 Germany November Unemployment Rate

19:00 Eurozone November Consumer Price Index

20:30 Brazil October Debt-to-GDP Ratio

21:00 India Q2 GDP

22:30 Canada Q3 GDP

23:45 US November Chicago Purchasing Managers Index

◇ Lunch & Commute Weather

○ Lowest temperature -4℃(▼2℃)｜Highest temperature: 5℃(▲1℃)
○ Precipitation probability 20% in the morning｜60% 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.