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Global trade risk: Citigroup estimates that if the US and China impose over 100% tariffs on each other, Korea’s GDP growth may decline by 0.5 percentage points. If the conflict continues, next year’s growth could drop by up to 2.3 percentage points due to increasing uncertainty. Aging population and consumption: Korea’s population in their 50s and 60s is spending less after retirement due to longer life expectancy. According to a KDI report, each one-year increase in life expectancy reduces average consumption propensity by 0.48 percentage points. Over the past 20 years, GDP rose by 4.1% annually while consumption only grew by 3.0%. Financial markets and politics: Power-related stocks surged around 10% based on political campaign pledges. However, such politically themed stocks are highly volatile and can drop rapidly with any policy reversals or resignations. Real estate market: In March, Seoul apartment transactions reached a 56-month high with 9,259 units traded following the lifting of land-use restrictions. However, April saw a decline due to reintroduced regulations. Mixed-use residential zones close to amenities are increasingly popular, with application competition ratios reaching 50 to 1 in some cases. Corporate news: HD Hyundai recorded over 1 trillion won in quarterly sales from high-voltage transformers, with operating profit increasing 70%. OpenAI expressed interest in acquiring Chrome if Google is forced to divest the asset in antitrust proceedings. Legal and social issues: Korea’s Supreme Court is expediting review of Lee Jae-myung’s case. The government also announced that May 2 will not be designated as a temporary public holiday. International developments: Reports suggest that Putin may halt further military advances if international recognition of Crimea as Russian territory is accepted. Ukraine and the EU remain opposed. In the US, a federal court rejected a request to suspend tariffs, citing lack of evidence of significant harm to small businesses. Market sentiment: Comments from Trump about potentially reducing China tariffs improved investor confidence. This led to a rebound in the dollar, a decline in gold prices, and a six-basis-point drop in 30-year US treasury yields. submitted by /u/BusyWrap7608 |
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- StockX in merger talks with Naver’s online reseller KreamStockX, the world’s most popular online resale marketplace, is in talks to merge with Kream, a resale unicorn under South Korea’s tech giant Naver Corp., in a deal that could be a win-win through business diversification and expanded global reach. According to sources in the investment banking industry on Wednesday, StockX and Kream are in negotiations to discuss their marriage… Read more: StockX in merger talks with Naver’s online reseller Kream
- Trump Jr. to visit Seoul next week to meet Korean business leadersShinsegae Group Chairman Chung Yong-jin (left) poses with Donald Trump Jr. Donald Trump Jr., the eldest son of the US President Donald Trump, is set to visit Seoul next week and meet with Korean business leaders grappling with rising US trade protectionism amid a domestic leadership vaccum. Shinsegae Group, the country’s retail giant, said on Wednesday Trump Jr. is scheduled… Read more: Trump Jr. to visit Seoul next week to meet Korean business leaders
- SK Hynix makes stride in CXL technology, escalating rivalrySK Hynix’ CXL CMM-DDR5 (Courtesy of SK Hynix) SK Hynix Inc., the leading global high-bandwidth memory (HBM) chip provider, has moved faster than its rivals in the commercialization of the next-generation memory technology, the compute express link (CXL)-based memory solution, after completing its customer evaluation. The South Korean memory giant announced on Wednesday that it has completed customer validation of… Read more: SK Hynix makes stride in CXL technology, escalating rivalry
Latest Entertainment from Korea
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Learn People & History of Korea
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- The Evolution of Pyongyang: A Journey Through History, Economy, and Political DynamicsIntroduction to Pyongyang Pyongyang, the capital city of North Korea, serves as a prominent symbol of the nation’s history and culture. Geographically located on the banks of the Taedong River, in the southwest part of the country, Pyongyang is situated within a strategic area that has historically facilitated trade and cultural exchange. The city’s origins can be traced back to… Read more: The Evolution of Pyongyang: A Journey Through History, Economy, and Political Dynamics
- The Evolution of Seoul: From Ancient Korea to Modern Metropolis and BeyondAncient Beginnings: The Founding of Seoul The city of Seoul, known today as the vibrant capital of South Korea, has ancient roots that trace back to the Three Kingdoms period of Korea, specifically the kingdoms of Baekje and Silla. Evidence suggests that Seoul was originally established as a settlement given its strategic geographical advantages. Nestled within the Han River basin,… Read more: The Evolution of Seoul: From Ancient Korea to Modern Metropolis and Beyond
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