Exchange Rate Soars... Import Prices See Largest Increase in 19 Months [3-Minute Brief]

[At a Glance]
1. Import prices surge to a 19-month high as exchange rates outweigh falling oil prices
2. Koo Yooncheol: "Korean-style sovereign wealth fund is different from the Investment Corporation... Proactive national wealth creation"
3. US trade deficit in September hits lowest in over five years, driven by gold export growth

MARKET INDEX : Year to date

○US New York Stock Exchange shutdown causes a flood of delayed economic indicators

○Focus on employment and inflation indicators... The employment situation may be worse than expected

○Powell's dovish remarks helped overcome a hurdle, but... "This week is even more important"

Top3 NEWS

■ Import price growth hits highest level in 1 year and 7 months... Driven by high exchange rate

○Bank of Korea, November Export-Import Price Index and Trade Index (provisional)
○Import prices rose 2.6% from the previous month... Up for five consecutive months
○International oil prices fell, but the exchange rate rose and offset the impact... Consumer price burden increased

■ "Sovereign Wealth Fund + KIC"... Moving toward the Singapore model

○KIC faces limits in high-risk, high-return investments
○Overseas investment-focused, restrictions on domestic strategic industry investment
○Plans to actively invest in advanced industries, biotech, and real estate through the establishment of a Korean-style sovereign wealth fund

■ US September trade deficit down 11% from previous month... Lowest in five years

○Lowest level since mid-2020
○Exports up 3%, led by gold and pharmaceuticals
○Imports increased by only 0.6%

Graphic News: "If Korail and SR merge, will KTX fares drop by 10%?... 'Monkey business' tax bill"

○Cost savings from eliminating overlapping expenses through integration

○Last year's net loss expected to reach 500 billion won

○"If the deficit widens, benefits will be cut first... The burden will fall on passengers"

the Chart: "Did it rise more than gold?" Silver banking booms as prices soar over 100% this year

○Silver price surpasses $60 per ounce for the first time ever

○Silver banking balances have quadrupled just this year

○Price forecast for next year: up to $70 per ounce

Today's Key Schedule

○Domestic

Meritz No.1 SPAC listed on KOSDAQ, final public offering price 2,000 won

TMC listed on KOSPI, final public offering price 9,300 won

Mirae Asset Vision SPAC No.10 KOSDAQ subscription, final public offering price 2,000 won

Reeves Med KOSDAQ subscription, expected public offering price 44,000~55,000 won

○Overseas

08:50 Japan Tankan Large Manufacturers Index (Q4)

11:00 China Industrial Production (YoY) (November)

11:00 China Unemployment Rate (November)

15:30 India Wholesale Price Index (YoY) (November)

16:30 Switzerland Producer Price Index (MoM) (November)

19:00 Europe Industrial Production (MoM) (October)

22:15 Canada Housing Starts (November)

22:30 Canada Consumer Price Index (MoM) (November)

◇Lunch & Evening Commute Weather

○Lowest temperature -3°C (▼1°C) ｜Highest temperature: 7°C (▲4°C)
○Precipitation probability: 20% in the morning｜30% in the afternoon
○Fine dust: Good in the morning｜Good in the afternoon

All you need is 3 minutes. Essential, time-saving, cost-effective economic news. Published daily at 8 a.m.