22-Month Surplus Streak in Current Account Balance... "Tariff Impact from April" [3-Minute Brief]

[At a Glance]
① Bank of Korea 'February Balance of Payments (Preliminary)' Statistics
② Stock Index Falls Below '2400', Exchange Rate Surges... Financial Markets in 'Panic'
③ EU, Korea, and Japan Enter Negotiations... China Remains Unyielding

MARKET INDEX : Year to date

○ White House reconfirms "104% tariffs on China starting from the 9th"
○ Massive sell-offs amid US-China trade war concerns
○ Another rollercoaster depending on tariff negotiation outcomes

Top3 NEWS

■ '7.18 billion in February' 22 consecutive months of current account surplus... Scale expands with export-import recovery

○ Surplus size grows as seasonal factors ease at the beginning of the year
○ Despite semiconductor export decline, IT product growth continues
○ Exports of 'non-IT' items like automobiles and pharmaceuticals also increase

■ After the 'Black Monday', stock market on thin ice

○ KOSPI around 2300 level... Returns all gains made this year
○ Rebound due to bargain buying following previous day’s sharp drop
○ Adjustment inevitable for the time being amid tariff uncertainties

■ EU, Korea, and Japan activate negotiation mode... China remains unyielding

○ EU proposes mutual tariff elimination to the US... Also abolishes whiskey tariffs
○ Director Jeong In-gyo to visit the US on the 8th
○ China retaliates with tariffs at the same rates as the US

Graphic News: Despite better-than-expected performance... Outlook for Trump’s tariffs in Q2 remains gloomy

○ 46% mutual tariff rate imposed by the US
○ Many internal and external variables affecting semiconductors
○ Challenge to expand influence in the HBM market

the Chart: Exchange rate direction shaken by 'tariff panic'... Depends on US vs China moves

○ Exchange rate 'spasm' from 32.9 won ↓ to 33.7 won ↑
○ Tensions rise with China’s retaliatory tariffs following US mutual tariffs
○ Possibility of further volatility increase depending on negotiation outcomes

Today's Key Schedule

○Domestic

08:00 South Korea Unemployment Rate (March)

○Overseas

11:00 New Zealand Interest Rate Decision

23:30 US Crude Oil Inventory

◇ Lunch & Commute Weather

○ Lowest temperature 8℃(▼1℃) ｜ Highest temperature: 18℃(▼1℃)
○ Precipitation probability 20% in the morning｜60% in the afternoon
○ Fine dust level Moderate in the morning｜Moderate in the afternoon

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