February 18 (Tuesday) News Headline
- seoultribune
- 2월 23일
- 5분 분량
《ECONOMY》
Trump: "Auto Tariffs Around April 2"... VAT Also Considered a Tariff
Trump announces plans to impose tariffs on cars imported into the U.S.
South Korea exports cars to the U.S. tariff-free under the KORUS FTA.
If auto tariffs are imposed, Korean exports could take a hit.
Trump: "We will consider VAT as a tariff on the U.S."
XR Market Gaining Momentum... Will Korean Display Industry Benefit?
XR market, previously hindered by price and weight issues, is now picking up.
Companies developing AI-based XR products.
Display panel manufacturers could benefit.
Panel supply expected to diversify beyond IT devices and TVs.
Traffic Accident Compensation: Advertised at 2 Billion Won, But Actual Payout Only 70 Million Won
Financial authorities warn against misleading insurance advertisements.
Many ads falsely claim “annual compensation” and “unlimited coverage.”
Regulatory measures being strengthened to prevent deceptive ads.
Chocolate Prices May Soar as Global Cocoa Stocks Dwindle
Cocoa prices hit a 50-year high at the end of last year.
Surge in synthetic chocolate products.
“9,000 Won Jajangmyeon May Soon Hit 10,000 Won” - Inflation Worsened by Exchange Rates and Tariffs
Jajangmyeon sees the highest price hike among Seoul's dining options.
Import prices, directly affecting food costs, have risen for four consecutive months.
Trump’s “exporting inflation” policy adds to concerns.
《FINANCE》
Gold Prices Soar While Bitcoin Declines
Bitcoin and gold showed a correlation coefficient of -0.588 in February.
Bitcoin increasingly moves in sync with the S&P 500.
Experts see Bitcoin as an emerging long-term value storage asset.
Banks Wrote Off 4.3 Trillion Won in Bad Loans by End of Last Year, Delinquency Rate Hits 8-Year High
Delinquency rate reached 0.44% in December 2023, highest since 2016.
Prolonged high interest rates and inflation increased repayment burdens.
Workers Face Record-High Tax Burden as Corporate Tax Plummets
Labor income tax revenue surpasses 61 trillion won, highest ever.
Corporate tax revenue falls for the second consecutive year.
Calls for a fair tax system grow as corporate tax cuts burden workers.
U.S.-China Trade War Slows Growth, Wall Street Banks Exit China
Goldman Sachs cut its China workforce by 15% compared to 2022.
JPMorgan CEO Jamie Dimon hints at withdrawing from China.
The top four global banks made only 48 billion won in China in 2023.
Trump’s tariffs cloud the outlook for U.S. businesses in China.
Despite Crackdown on Illegal Lending, Reported Cases Hit 5-Year High
15,397 reports of illegal lending, up 11.9% from the previous year.
Tighter household loan regulations led to a year-end surge in cases.
《CORPORATE》
Opposition Pushes Samsung Life Act Amid Triple Risks for Samsung
Samsung faces trade tariffs, judicial, and legislative risks.
New law would require valuing assets at market price instead of acquisition cost.
If passed, Samsung may have to sell 20 trillion won in Samsung Electronics shares.
Critics argue this adds to economic instability amid Trump’s tariff policies.
Shinpoong Pharmaceutical Heir Indicted for Insider Trading, Making 156.2 Billion Won Profit
Former CEO Jang Won-jun and holding company reported to prosecutors.
Used non-public information to avoid a 36.9 billion won loss.
Hyundai Engineering Wins 512.5 Billion Won Power Transmission Line Project in Saudi Arabia
Contract for 380kV transmission lines in Humayzi and Qulis.
Linked to solar power plants in Medina and Jeddah, set for completion in 2027.
Can Ukraine Reconstruction Be a Lifeline for Korean Construction?
Global reconstruction market for Ukraine estimated at 700 trillion won.
Some warn against overly optimistic projections.
TSMC May Build Advanced Chips in the U.S. Amid Intel Takeover Rumors
Reports of Intel’s foundry business being sold to TSMC emerge.
Trump intensifies pressure for semiconductor manufacturing in the U.S.
The potential sale remains uncertain, possibly a negotiation tactic.
《REAL ESTATE》
Buying a 5-Billion-Won Apartment with ‘Parent’s Money’ Without Paying Gift Tax
156 individuals under investigation for real estate tax evasion.
National Tax Service scrutinizes irregular real estate transactions.
Fake sales used to evade tax on second-home ownership.
Seoul’s Private Apartment Prices Rise Slightly to 44.13 Million Won per 3.3㎡
Supply of private apartments down 62% from last year.
Prices up 18.8% year-over-year.
Some Areas See House Prices Drop While Songpa and Yongsan Jump 400 Million Won
Nationwide apartment prices fell 0.1% in January.
Seoul apartment prices increased by 0.04%.
New Subway Line to Cut Travel Time from Songdo to Pangyo to 30 Minutes
Wolpan Line expected to open in 2029.
Expected to boost property values in Anyang, Siheung, and Uiwang.
Seoul’s Transferable Floor Area Ratio System May Launch in First Half of the Year
Expected to benefit areas like Bukchon and Pungnap-dong.
Study results to be released on March 25, with implementation by July.
《SOCIETY》
67% of Seniors Want to Die at Home, 84% Oppose Life-Sustaining Treatment
94.2% used 4.4 million won in health insurance benefits in their last month of life.
Cancer patients spent 5.93 million won, while non-cancer patients spent 4.07 million won.
Filipino Domestic Helpers in Gangnam Earn 3 Million Won per Month
Minimum wage hikes and ILO agreements drive demand.
73% of households using their services earn over 9 million won per month.
Critics say the system benefits only the wealthy.
Parents Using Audio-Monitoring Apps on Kids Sparks Controversy Over Teachers’ Rights
"Find My Kids" app saw a 70-fold increase in downloads.
Parents seek monitoring solutions amid school safety concerns.
Teachers fear being constantly recorded.
Seoul National University Hospital Developing New Treatments for Breast and Pancreatic Cancer
150 billion won in funding over five years for AI-integrated research.
Aims for rapid clinical approval of new cancer drugs.
Government Plans Major Overhaul of Minimum Wage Decision Process for First Time in 37 Years
Considering reducing the 27-member wage committee.
Aims to base minimum wage on economic conditions and labor market factors.
《INTERNATIONAL》
Trump-Putin Sideline Europe in Ukraine Peace Talks, EU Seeks Military Strength
Trump excludes Europe from Ukraine peace talks.
French President Macron calls for emergency EU summit.
UK considers sending troops, accelerating EU peacekeeping efforts.
U.S. Reduces Livestock Disease Response Staff by 25%, Raising Bird Flu Concerns
Poultry industry fears delays in outbreak response.
15% of U.S. laying hens have died in four months.
Egg prices reach a record high of $4.95 per dozen.
Israel, Backed by Trump, Intensifies Attacks on Iran and Gaza
Netanyahu hints at further strikes on Iran.
Trump supports forced migration from Gaza.
First-phase ceasefire in Gaza set to expire on March 1, with no extension in sight.
Deepfake Tech Banned Globally, But China Expands Its Use
Cities like Tianjin introduce deepfake applications.
Public services and businesses embrace cost-effective deepfake tech.
Even WeChat integrates deepfake features.
Canadian Warship Joins U.S. in Sailing Through Taiwan Strait, China Warns of Retaliation
Taiwan welcomes Canada’s assertion of free navigation.
U.S. warship also transited Taiwan Strait last week for the first time in four months.
Seoul Tribune (c)
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