190,000 More Employed in October... Youth Employment Slump Continues [3-Minute Brief]

[Quick Overview]
1. National Data Office Releases October Employment Trends
2. Active Discussions on Extending Retirement Age... A Chance for Wage System Reform?
3. S&P 500 Returns Rank 41st Among Over 60 Countries

MARKET INDEX

○ The three major indices on the New York Stock Exchange ended mixed, with investor sentiment supported by expectations of a government shutdown being lifted.

○ The Dow Jones closed at an all-time high, but the Nasdaq declined despite AMD surging 9%.

○ Technology stocks weakened due to concerns over overvaluation.

TOP 3 NEWS

■ Employment Rate Gap Widens... 48.1% for Seniors, 44.6% for Youth (Summary)

○ Manufacturing and construction sectors have been declining for 16 to 18 consecutive months.

○ Employment rate for those aged 60 and above stands at 48.1%, up 0.7 percentage points.

○ In contrast, the youth employment rate dropped by 1.0 percentage point.

■ Business Community Proposes 'Wage System Reform' Alongside Extension of Retirement Age

○ Calls to break away from the entrenched seniority-based system.

○ Advocates for the principle of 'equal pay for equal work' and a shift to a job- and performance-based system.

○ Efforts to institutionalize 'rehiring after retirement' are seen as a starting point for greater labor market flexibility.

■ US Stock Market Shaken by Trump Tariffs... KOSPI Tops List Thanks to 'Semiconductor Effect'

○ The S&P 500's return ranks 41st among more than 60 countries.

○ AI is supporting the US stock market, but there are concerns about polarization.

○ "Korea's leading position in semiconductors and AI is driving the KOSPI."

Graphic News: Are Investors Realizing FX Gains? Soaring Dollar Deposits Plummet

○ After a steady decline since August, dollar deposits surged in November.

○ After the weekend, they dropped 38% in just one business day.

○ It appears investors are moving to realize profits.

Money-Making Law

■ "Honey Not Allowed"... Lifeline for Diabetic Patient Blocked at Court Security

○ Controversy as honey, a lifeline for a patient with type 1 diabetes, was confiscated in court.

○ The court stated, "There are concerns about disguising toxic substances... exceptions may be made with the judge's approval."

○ The patient association insists, "Honey and other sugars should be recognized as emergency medical supplies."
☞Read the article: https://www.asiae.co.kr/article/lawtimes/2025111215044316972

■ Business Partner Says "Paid 360 Million Won to OB Beer Executive"

○ A business partner of OB Beer paid a 360 million won bribe to an executive.

○ Prosecutors say "16.5 billion won in customs duties were evaded" and have indicted 15 people, including the corporation and executives.

○ The court said, "Testimonies from accomplices are inconsistent... the sentencing date will be decided later."
☞Read the article: https://www.asiae.co.kr/article/lawtimes/2025111215155473992 

■ Google's '42.1 Billion Won Fine' Verdict Set for February Next Year

○ Google is contesting the penalty for 'app market monopoly' and the verdict is scheduled for February next year.

○ Google argues, "Game companies made voluntary choices," while the Fair Trade Commission claims, "Google abused its market dominance."

○ ONE store says, "Google blocked the growth of domestic app markets."
☞Read the article: https://www.asiae.co.kr/article/lawtimes/2025111215252017224

※ 'Money-Making Law,' a content partnership between The Asia Business Daily and Law Times, is published every Tuesday and Thursday.

Key Schedules Today

○ Domestic

Curiosis to be listed on KOSDAQ, final public offering price set at 22,000 won.

Shinyoung SPAC No. 11 KOSDAQ subscription, planned public offering price at 2,000 won.

○ Overseas

18:00 European Central Bank Monthly Report

21:00 Brazil Retail Sales (YoY) (September)

22:30 US Consumer Price Index (YoY) (October)

22:30 US Initial Jobless Claims

◇ Lunchtime & Commute Weather

○ Lowest temperature: 8℃ (▲3℃) ｜ Highest temperature: 17℃ (▲1℃)
○ Precipitation probability: 20% in the morning ｜ 0% in the afternoon
○ Fine dust: Moderate in the morning ｜ Moderate in the afternoon

All you need is three minutes: essential, value-for-time economic news. Published daily at 8 a.m.