Despite High Exchange Rates, March Import Prices Drop for Two Consecutive Months [3-Minute Brief]

[At a Glance]
① Oil prices drop despite sharp rise in exchange rates
② China's export restrictions pose serious threat to US defense and security
③ Banks downsize by closing or merging branches... workforce also reduced

MARKET INDEX

○NVIDIA setbacks and dashed 'Powell put' expectations lead to decline… Nasdaq down 3%
○Semiconductors plunge following NVIDIA… AMD down 7%
○Powell: "Tariffs are high… inflation and growth slowing"

TOP 3 NEWS

■ March import prices fell again due to oil price drop… Will it pull down consumer prices?

○International oil prices continue to decline, March import prices down 0.4%
○Consumer prices reflect 1-3 month lag "Upward pressure limited"
○Domestic factors such as wildfires and weather conditions also need to be considered

■ US think tank: China's rare earth export restrictions "Threat to defense and security"

○CSIS "Rare earths are difficult to substitute in supply"
○Needed for fighter jets, submarines, missiles, radars, drones, etc.
○Military capability gap between US and China expected to widen

■ 2,000 bank branches disappeared… pushed out by apps and voluntary retirement

○Domestic bank branches at 5,792, lowest since statistics began in 2001
○2,044 branches vanished over 12 years
○Offline usage declining due to digitalization

the Chart: Long or short… Which ETF shines in a market that can't find direction?

○Last month, domestic stock ETFs saw net inflows of 540 billion KRW
○Increasing cash flow demand amid a fluctuating market
○Covered call investment effective in sideways market scenarios

Money-Making Law

■ Why can't I retouch my wedding photos? 'Private retouching' sparks copyright disputes

○Private retouching of wedding photos raises copyright infringement concerns
○Studio: "Protecting creative works" vs Consumers: "Excessive restriction of choice"
○Legal experts: "Differences in 'degree' such as retouching determine copyright violation"
☞Read article: https://www.asiae.co.kr/article/lawtimes/2025041614172692477

■ Foreign law firms' joint venture share limit at 49%… Possibility of 'lock' removal demand

○"Opening legal market needed to improve inefficiencies in legal services"
○vs "Large royalties may flow abroad like accounting firms"
○Ministry of Justice starts research to assess impact of opening
☞Read article: https://www.asiae.co.kr/article/lawtimes/2025041614241645874

■ Will the '5%' statutory interest rate change to a variable rate?

○Constitutional Court ruled constitutional but
○Justice Kim Hyung-doo issued dissenting opinion
○Government preparing to introduce variable interest rate system
☞Read article: https://www.asiae.co.kr/article/lawtimes/2025041615334983086

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

Today's Key Schedule

○Domestic

10:00 Korea interest rate decision (April)

KOSDAQ Sec subscription, expected IPO price 13,000 KRW ~ 15,000 KRW

○Overseas 02:15 US Federal Reserve (FED) Chair Powell speech

21:30 US deposit interest rate (April)

21:30 US Philadelphia Fed manufacturing activity index (April)

21:45 European Central Bank press conference

22:15 European deposit interest rate (April)

22:15 European interest rate decision (April)

◇Lunch & Commute Weather

○Lowest temperature 13℃(▲6℃) ｜Highest temperature: 24℃(▲2℃)
○Precipitation probability morning 40%｜afternoon 20%
○Fine dust morning moderate｜afternoon moderate

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