Prices Continue to Soar... October Inflation Rate Hits 2.4%, Highest in 15 Months [3-Minute Brief]

[At a Glance]
① "October Consumer Price Trends" Released... Highest in 15 Months
② "All-Time High" Net Profit of 15.4 Trillion Won for Financial Holding Companies in the First Half
③ Ministry of Oceans and Fisheries Streamlines Seafood Distribution... "10% Cost Reduction"

MARKET INDEX : Year to date

○All three major indices on the New York Stock Exchange fell... Growing caution over overvalued AI-related stocks

○Wall Street heavyweights such as Solomon and Pick warn of a 10-20% correction

○Divergence within the Fed clouds the outlook for a December rate cut

Top3 NEWS

■ October consumer prices up 2.4%... Highest in 15 months (Comprehensive)

○Rice up 21.3%, apples up 21.6%
○Service prices rose due to the effect of extended holidays
○Costs for overseas group tours (up 12.2%), among others, increased

■ Loan business booming... Financial holding companies post record-high net profit of 15.4 trillion won in the first half

○Ten banks and non-bank holding companies posted all-time high net profits in the first half
○Interest income increased due to loan growth
○Stock trading fees rose amid a bullish stock market

■ Seafood distribution streamlined from 6 to 4 stages... Distribution costs to fall by 10% by 2030

○Ministry of Oceans and Fisheries announces measures to improve seafood distribution structure
○Aims to reduce price volatility of major seafood products by 25%
○Modernization of 'old fish markets' and expansion of 'seafood specialty stores'

Graphic News: Four major financial groups post record earnings... Shareholder returns also at all-time high

○KB is expected to surpass a 50% shareholder return rate for the first time among financial holding companies

○Shinhan and Hana are expected to achieve the 50% shareholder return rate target ahead of schedule

○Woori Financial introduces tax-free dividends for the first time

the Chart: Now 3 million use 'Ddanggyeyo'... Could it become an alternative in the delivery market?

○Users of the public delivery app 'Ddanggyeyo' are rapidly increasing

○Effect of consumption coupons for economic recovery

○Potential as an alternative in the delivery market amid commission fee conflicts

Key Events Today

○Domestic

KOSDAQ Curiosis subscription, final public offering price: 22,000 won

KOSDAQ Sena Technology subscription, final public offering price: 56,800 won

○International

00:00 US Department of Labor JOLTS (Job Openings and Labor Turnover Survey) (September)

10:45 China Caixin Services PMI (October)

22:15 US ADP Non-Farm Employment Change

23:00 ISM Non-Manufacturing PMI (October)

23:45 Services PMI (October)

◇Lunch & Evening Commute Weather

○Lowest temperature: 6℃ (0℃) ｜Highest temperature: 19℃ (▲3℃)
○Chance of precipitation: 0% in the morning｜20% in the afternoon
○Fine dust: Moderate in the morning｜Moderate in the afternoon

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