Business Community Calls for at Least One-Year Grace Period for Yellow Envelope Act [3-Minute Brief]

[At a Glance]
① Economic organizations announce demands in a joint statement
② US hints at "NATO-style collective defense" for Ukraine... White House summit on the 18th draws attention
③ Banks tighten lending standards... Even high-income, high-credit borrowers face difficulties

MARKET INDEX

○The three major New York stock indices closed flat.

○Powell to deliver a speech at Jackson Hole on the 22nd... Will he signal a rate cut?

○Retailers such as Home Depot, Walmart, and Target to announce earnings results.

TOP 3 NEWS

■ "Grant us a one-year grace period" - Business community officially proposes to slow down enforcement of the Yellow Envelope Act

○On the 18th, a joint statement was issued outlining their demands.

○Request for "at least a one-year implementation delay."

○Economic organizations launch a last-ditch effort to block the Yellow Envelope Act. 

■ US hints at "NATO-style collective defense" for Ukraine... White House summit on the 18th could be a turning point for ending the war

○Wittkopf told CNN, "Putin also agrees."

○Rubio also said, "There is a possibility of offering security guarantees to Ukraine."

○US, Ukraine, and European leaders to hold a summit at the White House on the 18th.

■ Lending cliff becomes reality in the second half... Even high-income, high-credit borrowers struggle to get loans

○Since August, the daily average increase in household loans is about 170 billion won.

○This is half the amount compared to June, when the increase was the largest.

○Banks are independently tightening lending standards, saying, "It is too early to feel relieved."

Graphic News: Propylene-only facilities fall into the 'red'... Operations halted, surviving on debt

○Companies like Hyosung Chemical produce propylene without NCCs.

○Debt increases and margins shrink... Taekwang Industrial halts its plant.

○SK Advanced posts a debt ratio of 241% due to poor performance.

Money-Making Law

■ Large law firms abolish internship programs to recruit top law school students

○The industry is expanding rolling and open recruitment.

○Kwangjang, Sejong, and Barun abolish internships.

○Small and mid-sized firms focus on "retention and integration."

☞Read the article:  https://www.asiae.co.kr/article/lawtimes/2025081814182170511

■ Embezzlement from bank account after chief monk's death

○New chief monk and fund manager cooperated to withdraw 250 million won from the account.

○Appellate court: "Difficult to recognize a fiduciary relationship"... acquitted.

○Supreme Court overturns the acquittal and remands the case.

☞Read the article:  https://www.asiae.co.kr/article/2025081814231782616

■ Law firm Ije achieves 10 billion won in sales for the first time in 10 years

○Expertise on par with large law firms, agility of a mid-sized firm.

○Operates under a "one firm" system, not a "separate profit" structure.

○Managing partner Kwon Gukhyeon: "Aiming to be a law firm like Switzerland, a small but strong nation."

☞Read the article:  https://www.asiae.co.kr/article/2025081814264944507

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

Today's Key Schedule

○Domestic

KOSDAQ: SNSYS to be listed, final public offering price set at 30,000 won.

○International

00:30 US 6-month Treasury bill auction

18:30 Germany 5-year Bobl bond auction

21:30 US Building Permits (July)

◇Weather at Lunch & Commute

○Lowest temperature: 26°C (0°C) ｜Highest temperature: 30°C (▼1°C)
○Chance of precipitation: 60% in the morning｜30% in the afternoon
○Fine dust: Good in the morning｜Good in the afternoon

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