From Working Hours to Income: Employment Insurance Changes for the First Time in 30 Years [3-Minute Brief]

[At a Glance]
① Ministry of Employment and Labor announces amendments to the Employment Insurance Act and the Employment and Industrial Accident Insurance Premium Collection Act
② Industrial electricity rates surge, increasing corporate burden
③ China's May exports up 4.8% year-on-year

MARKET INDEX

○Trump sends tariff letter: "Both South Korea and Japan at 25%"
○Effective August 1... Three weeks secured for trade negotiations
○US Treasury: "Multiple trade agreements within 48 hours"

TOP 3 NEWS

■ '15-hour rule' becomes history... Employment insurance to be fully restructured based on income

○Legislation announced for employment insurance reform
○Collection criteria to be based on actual annual earnings
○"We expect to provide stronger protection for vulnerable workers"

■ "Electricity usage up 13%, but bills up 70%"... Companies face growing power burden in the AI era

○Seven hikes in industrial electricity rates identified as the cause
○Companies find it difficult to realistically apply alternatives
○Calls for improvements to the power system, including expansion of renewables

■ China continues 'origin laundering'... US likely to use 'tariff negotiations' as leverage

○Trade with the US plunged 43%, but ASEAN and Europe provided support
○Negotiation deadline... Possibility of 'transshipment regulations' like Vietnam
○Mutual tariff suspension deadline expires... High likelihood of reduced Chinese indirect exports 

Graphic News: Funds Attack Funds

○Must asks Pharmaresearch's second-largest shareholder CVC to commit to 'exercise of redemption rights'
○VIP tells Affinity, which is acquiring Lotte Rental, to "clarify position on merger and delisting"
○Since its first appearance after the IMF crisis, domestic activism has grown rapidly over the past 25 years

Money-Making Law

■ Lowered threshold for 'shareholder derivative lawsuits'... Companies consider response strategies

○Commercial Act amendment passed, Supreme Court ruling
○Directors expected to face increased accountability
○"US legal principles may be referenced" 
☞View article:  https://www.asiae.co.kr/article/social-general/2025070715090921105

■ Fraudulent loans using stolen identities: "Victims not liable for apparent agency"

○No liability for victims of loans taken out with stolen identities
○Strict requirements for establishing apparent agency
○Court ruling emphasizes financial institutions' responsibility 
☞View article:  https://www.asiae.co.kr/article/social-general/2025070715130539720

■ "Competency verification sidelined, only shaming and political strife remain"... Calls to amend the confirmation hearing law grow

○Hearings highlight political strife over verification
○Ineffective legal structure under scrutiny
○Full-scale discussions on amending the confirmation hearing law begin
☞View article:  https://www.asiae.co.kr/article/social-general/2025070715194576894

※ "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 LS SPAC No.1 subscription, planned public offering price: 2,000 KRW

○Overseas

04:30 US CFTC crude oil speculative net positions

08:50 Japan seasonally adjusted current account (May)

13:30 Reserve Bank of Australia interest rate speech

15:00 Germany trade balance (May)

21:00 Brazil retail sales (YoY) (May)

23:00 Speech by Bundesbank President Nagel (Germany)

◇Lunch & Commute Weather

○Lowest temperature: 27℃(▲1℃) ｜Highest temperature: 36℃(▲4℃)
○Precipitation probability: 20% in the morning｜20% in the afternoon
○Fine dust: Good in the morning｜Good in the afternoon

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