"You Might Not Get It Tomorrow"... Early Heatwave Sends Watermelon and Lettuce Prices Soaring [3-Minute Brief]

① Watermelon Wholesale Price Up 55% Year-on-Year
② Commercial Act Amendment Passes National Assembly... Growing Concerns Over Chinese Companies
③ Education Tax Expands to 5 Trillion Won Scale

MARKET INDEX

○All three major indices closed higher... Nvidia surpasses $4 trillion in market capitalization

○S&P 500 and Nasdaq hit all-time highs

○Trump's tariff letter puts pressure, but market impact remains limited

TOP 3 NEWS

■ “Today is the cheapest day”... Early heatwave sends prices soaring, watermelon and lettuce supply in crisis

○Drought during the monsoon followed by an unusually early heatwave compared to previous years
○Large supermarkets defend prices by sourcing from alternative regions and using existing inventory
○Prolonged heatwave likely to drive prices even higher

■ The ‘3% Rule’ opens the door wider for Chinese companies on a ‘technology hunt’

○Commercial Act amendment passed by the National Assembly
○Acquiring just over 4% stake allows attempts to appoint audit committee members
○Even minority stakes can exert influence... Potential for abuse in technology theft

■ “School-age population halved, but”... Education tax remains unchanged

○Transportation, energy, and environment taxes remain in the 1 trillion won range
○Criticism that earmarked taxes violate their intended purpose
○Concerns that the burden on financial and insurance industries is being passed on to consumers

Graphic News: Bank ETFs soar as bank stocks hit record highs

○The four major financial holding companies reach all-time highs

○KB Financial Group stock price surpasses 120,000 won

○ETF returns also soar

Money-making Law

■ CEO’s use of corporate account “violates the Real Name Financial Transactions Act”

○Supreme Court sets precedent for the first time
○First trial: “Not guilty of fraud”
○Supreme Court: “Guilty of actual personal use”
☞Read article:  https://www.asiae.co.kr/article/2025070915411381694

■ Prenup, Trump’s “how to keep a marriage” ... Time for Korea to consider

○Widely recognized by case law in the US and UK
○Recognized by statute in Australia and Japan
○“Korea needs legal reform and a change in attitude”
☞Read article:  https://www.asiae.co.kr/article/2025070915461495597

■ Leaving home brings hardship ... Prosecutors consider resigning but “wait and see for now”

○Nine resignations since the launch of the new administration
○Monthly average of 12 resignations over the past three years
○Tendency to adopt a wait-and-see approach is growing
☞Read article:  https://www.asiae.co.kr/article/2025070915525831702

* “Money-making Law,” a content partnership between Asia Economy and Law Times, is published every Tuesday and Thursday.

Key Schedule Today

○Domestic

10:00 Bank of Korea interest rate decision (July)

KOSDAQ Daishin Value REITs listing, final public offering price 5,000 won

KOSDAQ DB Financial SPAC No.14 subscription, expected public offering price 2,000 won

○International

02:00 US 10-year Treasury auction

03:00 US Federal Open Market Committee minutes

15:00 Germany Consumer Price Index (MoM) (June)

21:30 US Initial Jobless Claims

◇Weather at lunchtime & after work

○Lowest temperature: 25℃(▼2℃) ｜Highest temperature: 35℃(▼1℃)
○Chance of precipitation: 0% in the morning｜0% in the afternoon
○Fine dust: Good in the morning｜Good in the afternoon

All you need in 3 minutes: essential, cost-effective economic news. Published daily at 8 a.m.