"2,000 Won for a Single Ramen?"... The Opening Salvo in the War on Inflation [3-Minute Brief]

[At a Glance]
① Government Races to Prepare Short-Term Measures Against Inflation
② Grain Management Act Revision Reconsidered... "Goal is to Maintain Reasonable Prices"
③ Trump and Democratic Hopeful Newsom Stand at Political Odds

MARKET INDEX : Year to date

○All three major U.S. stock indexes closed higher.

○U.S. and China held trade talks in London; S&P rose for the third consecutive day.

○Tesla shares climbed over 5% as tensions between Musk and Trump eased.

Top3 NEWS

■ President Lee orders action on inflation... Government to meet with food industry

○Overall inflation remains in the 1% range, but processed food prices rose by 4.1%.
○Lee Jaemyung ordered, "Report before the next meeting."
○The government is focused on preparing short-term measures, including a supplementary budget.

■ "The goal is to stabilize rice prices"... Mandatory purchase of surplus rice may be reconsidered from scratch

○The revision of the Grain Management Act, which was previously vetoed.
○A Democratic Party official said, "Consultation with the government is possible."
○There is also a plan to make mandatory purchases only from farms that reduce rice cultivation area.

■ Trump and Democratic hopeful clash over LA protests..."Sue Trump" vs "Newsom should be arrested"

○Conflict between Trump and Governor Newsom intensifies.
○Newsom said, "Deploying the National Guard is illegal... I will file a lawsuit."
○Trump said, "I wish Newsom would be arrested."

Graphic News: President Lee singles out ramen prices... Acceleration due to its status as a 'working-class' symbol

○Ramen prices rose 5.1% in April and 6.2% in May.

○Processed foods may drive overall inflation higher.

○Some point out that "identifying the causes of price increases should come first."

the Chart: With the possibility of lowering the legal maximum interest rate to 15%... Savings banks on high alert

○Top 5 microcredit loans under 3 million KRW

○The lower the credit score, the higher the loan interest rate.

○If adjusted to 15%, those with scores below 700 will be left in a blind spot.

Today's Key Schedule

○Domestic

KOSDAQ: GC Genome to be listed, confirmed public offering price 10,500 KRW

08:00 Korea Unemployment Rate (May)

○International

05:00 U.S. President Trump Speech

21:30 Consumer Price Index (MoM) (May)

21:30 U.S. Consumer Price Index (MoM) (May)

23:30 U.S. Crude Oil Inventories

◇Lunch & Evening Commute Weather

○Lowest temperature: 16°C (▼4°C) ｜Highest temperature: 20°C (▲3°C)
○Precipitation probability: 0% in the morning | 0% in the afternoon
○Fine dust: Moderate in the morning | Moderate in the afternoon

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