Supplementary Budget Not Reflected Yet... First Quarter National Fiscal Deficit at 61.3 Trillion Won [3-Min Brief]

[At a Glance]
①Managed Fiscal Balance Exceeds 60 Trillion Won, Second Largest on Record
②Foreign Investors Net Buyers on KOSPI for Six Consecutive Trading Days
③Hanwha Group Acquires Food Service Company Ourhome

MARKET INDEX : Year to date

○The three major U.S. stock indices ended mixed... Optimism over U.S.-China agreement subsides

○April PPI fell by 0.5% compared to the previous month

○Retail sales expanded by 0.1%... Growth rate slows

Top3 NEWS

■ First quarter national fiscal deficit at 61.3 trillion won... Second largest on record

○Managed fiscal balance recorded a deficit of 61.3 trillion won
○Corporate and income tax revenues have improved compared to last year, but expenditures remain similar to the previous year
○"Basic pension payments and National Pension payouts have increased"

■ Foreign investors, who had been net sellers for nine consecutive months, changed course this month

○Foreign investors recorded net purchases on the KOSPI for six consecutive trading days recently
○Attention is focused on whether the net selling streak will end
○Shift to buying attributed to easing tariff risks, solid earnings, and stable exchange rates

■ Sold for 100 billion, bought back for 900 billion... Hanwha reenters food service market by acquiring Ourhome

○Completed acquisition of 58.62% stake in Ourhome
○Purchased 58.62% stake from Koo Bonseong and Koo Mihyun for 870 billion won
○Officially incorporated as a Hanwha affiliate

Graphic News: "The new government should focus on merit-based reemployment"... Discourse on changing social structure [Retirement Age Extension, A Time of Choice]

○Emerges as a hot issue ahead of the presidential election

○Experts express concerns about declining corporate competitiveness

○Negative views on uniform retirement age extension plans

the Chart: Hyundai Motor breaks ground on first production plant in Saudi Arabia..."Key hub for Middle East and Africa"

○Hyundai Motor forms a 3:7 joint venture with Saudi Arabia's sovereign wealth fund

○Annual production of 50,000 units on a 400,000 m² site

○Saudi Arabia is the largest automotive market in the Middle East

Today's Key Schedule

○Domestic

06:00 Export Price Index (YoY) (April)

06:00 Import Price Index (YoY) (April)

11:00 Thomson Reuters IPSOS PCSI (MoM) (May)

○International

02:00 U.S. Atlanta Fed GDPNow (Q2)

05:00 U.S. Federal Reserve Balance Sheet

08:50 Japan GDP (QoQ) (Q1), GDP Deflator (YoY) (Q1)

21:30 U.S. Import Price Index (MoM)(YoY)(April)

23:00 U.S. University of Michigan Inflation Expectations (May)

◇Lunch & Commute Weather

○Lowest temperature 15(▲1℃) ｜Highest temperature: 23℃(▲2℃)
○Chance of precipitation: 40% in the morning ｜ 30% in the afternoon
○Fine dust: Good in the morning ｜ Good in the afternoon

All you need in 3 minutes: essential, value-driven economic news. Published daily at 8:00 AM.