Semiconductor Effect: Last Year’s Current Account Surplus Hits All-Time High [3-Minute Brief]

[At a Glance]
1. Record-high current account surplus last year... Semiconductor-driven growth expected to continue this year
2. Domestic capital markets to see deepening 'K-shaped' polarization in 2024
3. Four major financial groups post over 18 trillion won in net profit last year

MARKET INDEX : Year to date

○All three major New York stock indices closed higher.

○Amid mixed signals in the December U.S. employment report, the Dow Jones and S&P 500 hit record highs.

○Gold and silver prices also strengthened.

Top 3 NEWS

■ Last year's 'record-high current account surplus' confirmed... "Semiconductors led the way, this year looks even better"

○Cumulative current account surplus from January to November: 101.82 billion dollars
○Annual record of 105.12 billion dollars in 2015 nearly reached
○The Bank of Korea forecasts the annual surplus will easily surpass 115 billion dollars

■ Stock and bond markets show 'K-shaped polarization'... The divide is expected to deepen this year

○While the KOSPI rose 80%, KOSDAQ gained only 31%
○Semiconductors and shipbuilding vs. petrochemicals, construction, steel, and batteries
○Performance gap leads to differences in returns, further entrenching polarization in a vicious cycle

■ The four major financial groups posted a net profit of 18 trillion won last year... Another record performance expected

○Despite falling interest rates, performance remained relatively strong
○Fee income growth in wealth management and investment banking drove results
○Growth is expected to slow slightly this year

Graphic News: Director Lee Chanjin's 'government intervention' controversy-how does it compare to his predecessor? The key issue is the governance task force

○Unlike his predecessor, there has been no direct intervention such as 'pressure to resign as chairman,' but attention is focused on the launch of a task force early in his term.
○Concerns have been raised about "signals of management intervention" regarding the mention of the National Pension Service's right to recommend outside directors.
○Financial holding companies are closely watching the scope and level of governance reform by the task force.

the Chart: Global venture investment escapes downturn... Half goes to AI

○Last year, the total reached 425 billion dollars, up 30% from the previous year
○The top five AI companies took 84 billion dollars, dominating the market
○The U.S. share hit a record high of 64%

Today's Key Schedule

○Domestic

SAMSUNG SPAC No.13 listed on KOSDAQ, final public offering price set at 2,000 won

○International

19:30 Germany 12-month Bubill government bond auction

◇Lunch & Evening Commute Weather

○Lowest temperature: -9℃ (▼1℃) | Highest temperature: 4℃ (▼8℃)
○Chance of precipitation: 20% in the morning | 30% in the afternoon
○Fine dust: Good in the morning | Good in the afternoon

Just 3 minutes-essential, cost-effective economic news. Published daily at 8:00 AM.