February 19 (Wednesday) News Headline
- seoultribune
- 2월 23일
- 5분 분량
《Economy》
The global market is in turmoil, yet the Special Semiconductor Act has failed again – "Crisis for K-Semiconductors"
Intel's rumored spin-off sale… Potential expansion of TSMC’s foundry market share
The passage of the Special Semiconductor Act in the National Assembly remains uncertain… "Correct the tilted playing field"
"Household debt stabilization trend this year… Mortgage loans also slowing"
Bank of Korea holds a briefing on "2024 Q4 Household Credit (provisional figures)"
"Mortgage loans expected to slow amid financial authorities' household debt management policy"
"Expansion of loans in the secondary financial sector… Not at a concerning level yet"
"Will monitor real estate market instability factors with caution"
Collapsing self-employment sector… 'Livelihood' vehicles like Porter and Bongo aren't selling
January's new commercial vehicle sales hit a record low
Domestic demand slump and reduced purchasing power among self-employed individuals
Sales lower than during the financial crisis and COVID-19
Prices of used Porter and Bongo vehicles are rising
Car taxes: 30% in Europe, 10% in Korea… Yet Trump singles out South Korea
Various regulations such as the Air Quality Conservation Act also mentioned
"Korea, the de facto No.1 import country" faces targeted attacks on its automobile industry
Experts advise negotiations to reduce policy uncertainty
Spring greens like bomdong, young radish, and spinach are 40% cheaper… Cabbage and radish discounts extended
Government discount of 20% combined with retailers' own 20% discount for up to 40% savings
《Finance》
Gold prices in Korea 19% higher than international rates, ETF inflows surging
'Gold ETFs' show a price gap for the 11th consecutive trading day
Domestic price volatility increases
₩1.937 trillion inflow into ETFs over the past month, accounting for 74% of total inflows in the past year
Authorities to review with asset management firms
"It has decreased, but 'debt-financed' home buying remains" – Household debt hits record high again at the end of last year
Bank of Korea announces "2024 Q4 Household Credit (provisional figures)"
Household credit reaches a record ₩1,927 trillion at the end of December
Driven by an ₩11.7 trillion increase in mortgage loans
1 in 4 loans issued remotely… Non-face-to-face loans account for 28% in banks
The proportion of non-face-to-face loans reaches 28% on average
Household loans slightly decreased in Q4 due to tightened lending policies
Short-selling resumes on March 31… Mandatory measures to prevent naked short-selling
Capital Market Act enforcement decree amended as part of short-selling system reforms
Institutional investors required to establish their own short-selling electronic systems
Retirement pension default option funds surpass ₩40 trillion… 8 in 10 invest in ‘ultra-low-risk’ products
Just 1.5 years after implementation, total funds reach ₩40.067 trillion with 6.31 million subscribers
84% of subscribers and 88% of funds concentrated in ultra-low-risk products
Government to disclose fund allocations by risk level and modify product names to reflect investment nature
《Corporates》
Hanwha Aerospace expands in European defense market… Strengthened presence with "User Club" initiative
Expected to pioneer markets for key export products
"K9 User Club" to be held in Poland in April
Negotiations on "Cheonmu" system with Estonia gaining momentum
T’way Air ownership dispute nears its end… Will Air Premia be the next target for Daemyung Sono?
Negotiations resumed ahead of the shareholder meeting
Likely that Yerimdang will transfer management rights
Effectively the second-largest shareholder of Air Premia… Might pressure with a capital increase strategy
Samsung Electronics’ board strengthens with 'semiconductor experts' but remains 100% Korean
Samsung Electronics’ annual general meeting scheduled for March 19
DS Division Vice Chairman Jeon Young-hyun and President Song Jae-hyuk appointed
Seoul National University Professor Lee Hyuk-jae, a semiconductor expert, joins
However, the board remains entirely Korean, unlike a global corporation
If one construction company collapses, 50 subcontractors go bankrupt
426 fewer construction firms than last year
The number of bankrupt companies has doubled in three years
Top 10 construction firms' cost-to-sales ratio at 90%
Construction industry crisis expands into a broader domestic economic downturn
Musk’s ‘Grok 3’ imminent release… Will it give wings to X’s declining platform?
Musk claims it is the "most intelligent AI"
X’s real-time data feeds the AI for learning
Introduces a "no-filter mode" for answering sensitive questions… Increasing X’s value as a data platform
《Real Estate》
"Secure a prime property"… 1 in 4 Seoul real estate transactions exceed ₩1.5 billion
25% of Seoul apartment sales exceed ₩1.5 billion
Meanwhile, transactions for apartments under ₩600 million plummet to 20.4%, more than halving since late 2022
"41 speculators ruined everything"… Young Koreans pushed to the brink by predatory landlords
41 landlords caused rental deposit fraud worth ₩1.4 trillion, making up 46.4% of total incidents
One landlord alone caused issues with 757 properties
Calls for special management of ‘zero-capital’ speculative landlords
"Three years after completion, still less than half occupied"… Gyeonggi province sees 13,000 unsold homes, worst in 8 years
Most unsold homes concentrated in Seoul’s adjacent 1st to 3rd new towns
"A leading indicator of economic downturn, commercial districts also collapsing"
Calls for exit strategies to protect domestic demand
Unoccupied properties even in Seoul… "A ₩200 million discount isn’t enough"
2 out of 3 unsold apartments in Seoul are classified as "unsellable"
Prime-location new builds remain vacant
Even Gangnam 3 district officetels experience sluggish sales
Mid- to low-priced areas see little interest
New long-term lease housing planned near Daebang Station… Redevelopment projects in Banghak, Daerim, and Cheongnyangni accelerate
Increased floor area ratio for Banghak redevelopment… Reducing burden by ₩130 million
1,026 units in Daerim-dong, 843 units in Cheongnyangni-dong to be built
《Society》
One year of medical disputes… Patients and hospital staff suffer
Workload shifted to medical residents… "Increase in patient safety incidents"
Working conditions worsen… "Fewer staff on duty, missing meals"
"Emergency rooms in North Chungcheong reducing services… 3,136 excess deaths recorded"
32% of hospital staff report an increase in safety incidents due to medical crisis
Survey by the Medical Solidarity Headquarters and Citizens’ Health Institute
45% of nurses report "increase in unauthorized prescriptions under doctors' names"
"Nurses handling unauthorized procedures among themselves"
Calls for proper public and regional doctor training and adequate workforce supply
"Rest when you're sick"… Seoul to provide ₩94,000 daily aid for vulnerable workers
Expanded ‘Seoul-style hospital stay allowance’ program
₩94,230 per day for up to 14 days
Includes visiting workers in priority support groups
"I’m not going back"… 57% of resigned medical residents now earn ₩8 million/month at local clinics
57% of resigned residents employed at local hospitals
Specialist exam applicants drop by 80%
4,000 doctors outside the healthcare system… Concerns over medical gaps
《International》
Trump accelerating ‘End of War’ talks… Europe counters with potential Ukraine troop deployment
Russia-U.S. talks in Saudi Arabia
"Don't trust Putin" – Unclear if Ukraine will attend
Europe seeks relevance amid exclusion from peace negotiations
Russia imports North Korean pharmaceuticals… A military alliance evolving?
Reports of Russian imports of North Korean ginseng-based medicines
Ginseng is subject to UN sanctions against North Korea
Trump’s 5% GDP defense spending demand tests EU’s finances
"Increased defense spending benefits far-right parties"
Some argue "EU can handle the debt"
Calls for "exemption clauses" and consideration of a "military investment bank"
Seoul Tribune (c)
Commentaires