'U.S.-Bound Exports Down 12% Due to Tariffs... Largest Drop Since COVID-19 [3-Minute Brief]'

[At a Glance]
1. U.S.-bound exports plunge 12% due to tariff impact
2. June 27 loan regulations curb August household loan growth to 3 trillion won
3. Greer, U.S. Trade Representative, on tariff illegality ruling: "We have plenty of Plan Bs"

MARKET INDEX

○ New York Stock Exchange enters September's 'seasonal weak market'

○ All eyes on August employment report and PMI

○ Attention on possible correction in semiconductor and AI-related stocks

TOP 3 NEWS

■ U.S.-bound exports hit by 'tariff shock,' down 12%... Largest drop since COVID-19

○ Ministry of Trade, Industry and Energy, August export-import trends
○ Exports to the U.S. continue to decline, including automobiles, general machinery, and steel
○ Tariffs: Steel still at 50%, automobiles at 25%

■ Is the June 27 regulation having an effect? Mortgage loan growth halved

○ Household loans this month expected to remain in the 3 trillion won range
○ About half the increase seen in June, which was the largest so far this year
○ Household loan growth expected to slow for some time

■ Trump administration responds to tariff illegality ruling: "We have plenty of Plan Bs"... Negotiations continue with each country

○ Greer, USTR representative, interview with Fox News
○ "Reciprocal tariffs based on IEEPA are legal"
○ "Negotiations will continue... We have many other options"

Graphic News: Foreign investors changed their minds after four months-will they return in September?

○ Foreign investors net sold 1.6 trillion won in August... First 'sell' in four months

○ KOSPI also turned downward for the first time in five months as foreigners switched to selling

○ Disappointment over tax reform plan, tariff concerns, and uncertainty in monetary policy were factors

Money-Making Law

■ Cannot increase penalty just because the first fine was low

○ Dongbu District Court: 1 million won fine for violating the Medical Service Act... Songpa Public Health Center also imposed a 15 million won penalty
○ Whistleblower: "The revised enforcement decree should be applied"... Songpa Public Health Center imposed an additional 190 million won
○ Court: "The revised enforcement decree must be followed, but additional separate penalties are not allowed"
☞Read the article:  :https://www.asiae.co.kr/article/lawtimes/2025090114392573367

■ Transfer from Seoul to Paju without business necessity is unfair

○ Association A transferred four employees from Team B from Seoul to Paju
○ Employees: "No business necessity"... Filed for relief with the Labor Relations Commission
○ Court: "Transfer exceeded discretionary authority"... Plaintiff lost the case
☞Read the article:  :https://www.asiae.co.kr/article/lawtimes/2025090114420383690

■ Behind the joy of passing... Young tax accountants and customs brokers burdened by millions in membership fees

○ Expensive and mandatory 'toll fees'... Low registration rates lead to 'name lending'
○ Payment of membership fees by others... Contract practices that hinder job changes
○ Korea Customs Service: "Will discuss improvement measures with the Korea Customs Brokers Association"
☞Read the article:  https://www.asiae.co.kr/article/lawtimes/2025090114451809303

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

Today's Key Schedule

○ Domestic

08:00 Consumer Price Index (YoY) (August)

○ Overseas

02:30 Europe: Speech by European Central Bank President Christine Lagarde

12:35 Japan: 10-year JGB bond auction

18:00 Europe: Core Consumer Price Index (YoY) (August)

18:00 Europe: Consumer Price Index (YoY) (August)

22:45 U.S.: Manufacturing Purchasing Managers' Index (August)

23:00 U.S.: ISM Manufacturing Purchasing Managers' Index (August)

23:00 Germany: Speech by Bundesbank President Joachim Nagel

◇ Lunchtime & Evening Commute Weather

○ Lowest temperature: 23°C (▼3°C) ｜Highest temperature: 32°C (▲3°C)
○ Precipitation probability: 20% in the morning｜0% in the afternoon
○ Fine dust: Good in the morning｜Good in the afternoon

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