Government Releases Yellow Envelope Law Interpretation Amid Confusion [3-Minute Brief]

[At a Glance]
① Ministry of Labor Releases Interpretation Guidelines for Revised Trade Union Act
② Status of Delinquency Rates on Won-Denominated Loans at Domestic Banks as of End-October
③ U.S. Growth Concentrated in Large Corporations... Small Businesses Face Management Difficulties

MARKET INDEX : Year to date

○The three major indices on the New York Stock Exchange closed slightly lower, taking a breather.

○The 'Santa Rally' was realized early, and some investors took profits.

○Coupang surged on its first trading day after announcing its own survey results, rising 6% on the New York Stock Exchange.

Top3 NEWS

■ Yellow Envelope Law Guidelines: Employer Determined by Control, Mass Layoffs Also Subject to Labor Disputes

○The government released its interpretation guidelines amid concerns from both management and labor groups.
○The guidelines include examples to allow for the determination of employer status based on different working conditions.
○"Only issues where employer status is recognized will be subject to negotiations between main contractors and subcontractors."

■ Bank Loan Delinquency Rate in October at 0.58%...Up 0.07 Percentage Points from Previous Month

○In October, the rate was 0.58%, up 0.07 percentage points from the end of the previous month.
○Household loan delinquency rate was 0.42%, with credit loan delinquency rates rising by 0.1 percentage points.
○Due to the sluggish economy, delinquency rates are trending upward, especially in vulnerable sectors.

■ Corporate Polarization Deepens Amid U.S. Economic Boom... 'K-Shaped Economy' Intensifies After Consumption

○Growth is concentrated among large corporations, while small businesses are reducing employment due to high inflation and tariffs.
○'K-shaped polarization' is intensifying, with a clear divide in corporate performance.
○Polarization among consumer classes is also deepening in tandem.

Graphic News: SC "Korea's Growth Rate in the High 1% Range Next Year...Asset Diversification Over Stock Investment"

○2026 Global Financial Market Outlook and Investment Strategies

○Export growth led by semiconductors is driving the growth rate.

○Average exchange rate at 1,430 won..."Weak won is the new normal."

the Chart: Authorities' 'Summoning Foreign Stock Investors' Tactic Shows Initial Calming Effect...Year-End Key Level at 1,450 Won

○Strong policy measures, including incentives for foreign stock investors, have had a calming effect on market sentiment.

○The key for year-end is whether the rate stays below 1,450 won; the market expects 1,440-1,450 won.

○Time is needed to confirm real effects. "If supply-demand improves, a downward trend is expected early next year."

Today's Key Schedule

○Domestic

Semifive to be listed on KOSDAQ, confirmed public offering price at 24,000 won.

○International

13:00 Thailand Industrial Production (YoY) (November)

17:30 Hong Kong Imports and Exports (MoM) (November)

20:00 France Total Job Seekers (November)

◇Lunch & Evening Commute Weather

○Lowest temperature 3℃(▲3℃) ｜Highest temperature: 7℃(▲1℃)
○Precipitation probability: 60% in the morning｜10% in the afternoon
○Fine dust: Good in the morning｜Good in the afternoon

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