Only Regular Workers Benefit... Minimum Wage Hike Widens the Gap [3-Minute Brief]

[At a Glance]
① Fighterch Institute releases research on minimum wage increase
② Government supplementary budget expected to boost the economy
③ Powell warns of tariff-driven inflation between June and August... "No need to rush"

MARKET INDEX

○Markets steady as Israel-Iran ceasefire is digested

○Nvidia hits new all-time high, regains top spot in market capitalization

○International oil prices rebound slightly... WTI up 0.9%

TOP 3 NEWS

■ "If minimum wage rises by 14.7%, the gap in working hours will increase by 17 hours per month"

○When the minimum wage increases, non-regular workers' working hours decrease
○When the minimum wage rises by 2.8 times, the gap in working hours increases by 2.6 times
○"The economic growth rate should be set as the upper limit for wage increases"

■ Supplementary budget's economic growth effect up to 0.32 percentage points... Success hinges on 'livelihood recovery consumption coupons'

○National Assembly Budget Office releases analysis report on supplementary budget proposal
○Growth rate will vary depending on the effectiveness of livelihood recovery coupons
○Concerns raised over local governments' burden of 3.7 trillion won

■ Powell warns of tariff-driven inflation this summer... Draws line against July rate cut (Comprehensive)

○"The economy is strong, so there is no need to rush"
○On inflation outlook: "Possible impact between June and August"
○Effectively rules out the possibility of a July rate cut

Graphic News: "Korean economy scores 3.2 out of 10... Experts warn fundamentals will weaken within 10 years"

○Korean economy receives a 'failing grade'... Facing a 'compound crisis' of low growth and high inflation trap

○Potential growth rate projected to fall to 0% range in 10 years... Without innovation in new industries, this could happen within 5 years

○The core cause of the current crisis is 'lack of leadership'... Structural problems are reinforcing and becoming entrenched

Money-Making Law

■ Hong Kong ELS victims file 3.6 billion won damages suit

○Law firm Jungse represents 17 victims
○Targets four banks, including Hana Bank and Kookmin Bank
○Victims claim, "Banks said even their employees invested"
☞Read the article:  https://www.asiae.co.kr/article/2025062515525814190

■ PE firms make full-scale entry into U.S. law firm market

○Regulations eased in Utah, Arizona, and other states
○Profitability expected to improve through mergers and acquisitions
○Concerns that small law firms may struggle to survive
☞Read the article:  https://www.asiae.co.kr/article/2025062515573634476

■ Like official jurors... 20 'shadow jurors'

○Ordinary citizens participate in trials and deliver mock verdicts
○Introduced in September 2010 to improve public understanding of the jury system
○More than 10,000 participants to date
☞Read the article:  https://www.asiae.co.kr/article/2025062516013257864

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

Today's Key Schedule

○Domestic

KOSDAQ Cynic Solution subscription, final public offering price 4,700 won

○International

01:00 U.S. 5-year Treasury bond auction

15:00 GfK German Consumer Climate (July)

19:00 European Union leaders' summit

21:30 U.S. Core Personal Consumption Expenditures Price Index (Q1)

21:30 U.S. Initial Jobless Claims

21:30 Canada Wholesale Sales (MoM) (May)

◇Lunch & Commute Weather

○Lowest temperature: 20℃ (▼1℃) ｜Highest temperature: 28℃ (▼3℃)
○Chance of precipitation: 30% in the morning｜20% in the afternoon
○Fine dust: Moderate in the morning｜Moderate in the afternoon

Just 3 minutes for the essential, value-for-time economic news. Published daily at 8:00.