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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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Latest News from Korea
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- S.Korea cracks down on Chinese color-coated steel plate tariff evasionThick steel plates produced at a Hyundai Steel mill (Courtesy of Hyundai Steel) South Korea is moving to slap anti-dumping duties on Chinese “fake” color-coated thick steel plates that have been altered after import in a bid to shield local steelmakers from circumvention dumping. Korea’s Ministry of Economy and Finance on Tuesday announced it has amended the enforcement decree of… Read more: S.Korea cracks down on Chinese color-coated steel plate tariff evasion
- HMM to buy back $1.5 bn shares, paving way for KDB’s fund recoveryHMM Co., South Korea’s largest shipping firm, will buy back and cancel 2.14 trillion won ($1.5 billion) worth of shares, paving the way for its two largest shareholders — Korea Development Bank (KDB) and Korea Ocean Business Corporation (KOBC) – to each recoup up to 1 trillion won in public funds. The ocean carrier approved the buyback plan at an… Read more: HMM to buy back $1.5 bn shares, paving way for KDB’s fund recovery
- Mastern Investment puts 13 E-Mart outlets up for sale in package dealE-Mart is the supermarket brand of Shinsegae Group Mastern Investment Management Co., a Seoul-based real estate investment firm, is putting 13 E-Mart Inc. outlets it acquired from the South Korean retail giant Shinsegae Inc.’s unit in 2019 – a move that is expected to be one of the country’s largest retail property transactions this year. According to people familiar with… Read more: Mastern Investment puts 13 E-Mart outlets up for sale in package deal
Latest Entertainment from Korea
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Learn People & History of Korea
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- 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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