Exports to the US and China Plunge... July Exports Down 2.2% [3-Minute Brief]

① Korea Customs Service, July 1-20 Export and Import Status
② Six Months into Trump's Second Term... Approval Ratings Continue to Decline
③ Wall Street Warns: "High Tariffs Will Lead to Decreased US Corporate Profits"

MARKET INDEX

○S&P and Nasdaq hit new record highs again on optimism over big tech earnings... Alphabet up 2.8%

○"M7 net profit up 14%... S&P average 3.4%"

○US Treasury Secretary: "The content of a trade agreement matters more than the timing"

TOP 3 NEWS

■ Korean exports falter again due to US tariffs... Down 2.2% through the 20th of this month (Comprehensive)

○Exports from the 1st to the 20th totaled $36.1 billion
○Exports to China down 5.9%, to the US down 2.1%
○"Exports for the entire month of July expected to turn positive" 

■ "Trump's approval rating continues to fall... Down 11 percentage points in six months since inauguration"

○US CBS: "Approval rating dropped from 53% in February to 42% now"
○Survey of 2,343 US adults... Down 11 percentage points
○"89% of respondents say all 'Epstein allegations' should be made public"

■ Despite record highs on Wall Street, warnings persist... "Tariff risks are underestimated"

○Some companies post "surprise earnings," but market remains cool
○"Signals that positive factors are already priced in"
○Concerns that high tariffs will negatively impact future US corporate profits

Graphic News: "Should I open a chicken restaurant or a cafe?"... Self-employed flock to 'unprofitable' sectors

○South Korea ranks 7th among OECD countries in proportion of self-employed

○Second wave of baby boomer retirements begins in earnest

○Number of self-employed expected to reach 2.48 million by 2032

Money-Making Law

■ Will the crime of breach of trust be abolished this time?

○Overlaps with the criminal code's business breach of trust
○"Protects managerial decisions... Crime does not exist overseas"
○"Will weaken anti-corruption investigations and provide immunity"
☞Read the article:  https://www.asiae.co.kr/article/2025072114390870987

■ "Dispatch work for more than two years must be directly employed"

○Supreme Court: "If dispatch work exceeds two years, must be considered direct employment"
○Key issue is whether there was a worker dispatch relationship between the plaintiff and defendant companies
○Employee in charge of Samsung Electronics Service repair business since 2004
☞Read the article:  https://www.asiae.co.kr/article/2025072115423184044

■ "Corporate participation in the digital asset market requires anti-money laundering measures"

○Academic conference on "Legal Issues of Digital Assets"
○"Disclosure, accounting, and tax issues regarding money laundering must be considered"
○Professor Ryu Kyungeun: "The most important issue is money laundering"
☞Read the article:  https://www.asiae.co.kr/article/2025072115455898660

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

Today's Key Schedule

○Domestic

KOSDAQ DB Financial No.14 SPAC listing, final public offering price 2,000 won

KOSDAQ LS SPAC No.1 listing, final public offering price 2,000 won

KOSDAQ Daehan Shipbuilding subscription, expected public offering price 42,000-50,000 won

06:00 Korea Producer Price Index (MoM) (June)

○International

07:45 New Zealand Trade Balance (MoM) (June)

10:30 Australia Monetary Policy Meeting Minutes

13:00 Malaysia Consumer Price Index (YoY) (June)

21:30 Federal Reserve (FED) Chair Powell speech

◇Lunch & Evening Commute Weather

○Lowest temperature 26°C (0°C) ｜Highest temperature: 31°C (0°C)
○Chance of precipitation: 40% in the morning ｜60% in the afternoon
○Fine dust: Good in the morning ｜Good in the afternoon

Three minutes is all you need: essential, cost-effective economic news. Published daily at 8:00 AM.