[Morning Briefing] Morning temperature around -5 degrees in the metropolitan area… New York stocks strong on hopes of interest-rate cuts

◆Heavy snow centered on the metropolitan area and Gangwon…'Cold wave advisory' as morning temperatures fall to -5 degrees

Thursday the 4th will see heavy snow mainly in the metropolitan area and Gangwon inland and mountain areas from the afternoon, and temperatures will be low and very cold. Morning temperatures fell to -5 degrees or lower, prompting cold wave advisories for the metropolitan area, Gangwon, central and northern parts of North Chungcheong, and inland/northeastern mountain areas of North Gyeongsang. From the afternoon into the night, Seoul, Incheon, Gyeonggi, central and southern inland and mountain areas of Gangwon, and northern North Chungcheong are expected to see 1~5㎜ of precipitation; northeastern Gyeonggi and northern inland and mountain areas of Gangwon are expected to see 3~8㎝ of snow. Northern North Jeolla will see 1㎝ of snow. By the early dawn of the 5th, about 1㎝ of snow is expected to accumulate in western inland and northeastern inland/mountain areas of North Gyeongsang, western inland areas of South Gyeongsang, eastern North Jeolla, and mountain areas of Jeju Island. Ulleungdo and Dokdo are expected to receive 1~5㎝ of snow by the morning of the 4th. From the afternoon of the 4th to the morning of the 5th, about 1㎝ of snow is expected to accumulate. The Chungcheong and Jeolla regions and Jeju will be mostly cloudy, and other regions will be mostly clear but gradually cloud over from the afternoon. Expected precipitation amounts through the morning of the 4th are under 5㎜ for Ulleungdo, Dokdo, and Jeju. Elsewhere, Seoul, Incheon, Gyeonggi, Seohae 5-do, central and southern inland and mountain areas of Gangwon, Daejeon, Sejong, South Chungcheong, North Chungcheong, North Jeolla, northern North Jeolla, Ulleungdo, and Dokdo are expected to receive less than 1㎜, and northeastern Gyeonggi and northern inland and mountain areas of Gangwon are expected to receive under 5㎜. Morning temperatures will be -5 degrees or lower in most parts of the country. Central inland areas and northern inland and northeastern mountain areas of North Gyeongsang will be around -10 degrees, and inland and mountain areas of Gangwon around -15 degrees. Daytime temperatures are forecast to be 0∼10 degrees.

◆New York stocks close higher on hopes for rate cuts despite slowing private employment

The three major U.S. New York stock indexes closed higher for a second day. On the 3rd at the New York Stock Exchange (Eastern Time), the Dow Jones Industrial Average rose 0.86% from the previous close. The Standard & Poor's (S&P) 500 index rose 0.30%, and the Nasdaq Composite rose 0.17%. U.S. private employment data came in weaker than expected, and investors continued to hope that the U.S. central bank (Fed) will move to cut the policy rate next week, which influenced the market.

◆Kim Keon-hee to be questioned by special prosecutor today over allegations of receiving expensive gifts

Kim Keon-hee is scheduled to appear at 2 p.m. on the 4th at the special prosecutor's office set up in the KT Gwanghwamun Building West in Jongno-gu, Seoul, to be questioned. The special prosecution team is investigating the circumstances under which she allegedly received jewelry, including a Van Cleef & Arpels necklace known as the so-called 'NATO necklace', from Seohui Construction Chairman Lee Bong-gwan shortly after former President Yoon Suk-yeol's inauguration. Lee submitted a confession to the special prosecution team last August saying he gifted jewelry to Kim and requested the appointment of his eldest son-in-law, lawyer Park Seong-geun, to a public office. Kim has not clearly stated whether she received the necklace. The special prosecution team also plans to question allegations that in March–April 2022 she received a request for a public appointment from former National Education Commission Chair Lee Bae-yong along with items such as a gold turtle. Also under investigation is the allegation that in September of the same year she received a Vacheron Constantin watch worth about 50 million won from robotics entrepreneur Seo Seong-bin as a bribe in exchange for business favors.

◆CSAT scoring results to be released today

Scoring results for the College Scholastic Ability Test held on the 13th of last month will be released on the 4th. On the 5th, score reports showing standard scores, percentiles, and grades will be distributed to test takers. Regular admission application submissions will take place from the 29th to the 31st. Some difficult questions in Korean and Math may raise the highest standard scores compared with the 2025 CSAT. The English section, which is graded on an absolute scale, is also analyzed as being difficult this year. Natural science students choosing social studies subjects instead of science inquiry subjects is expected to act as a variable in CSAT results.

◆U.S. Federal Register: "Korean car tariffs to be retroactively applied from November 1"

A notice was published in the U.S. federal government's Federal Register on the 3rd local time lowering Korea's auto tariffs on U.S.-bound exports retroactively to 15%. This was a pre-publication in the online register; the official posting will occur on the 4th. The U.S. tariff of 15% on Korean automobiles, effective on the official posting date of the 4th, will be applied retroactively as of 00:01 on the 1st of last month Eastern Time, and will apply to automobiles and auto parts imported for consumption or withdrawn from warehouses for consumption. With this, the tariff, trade, and investment negotiations between South Korea and the U.S., which began in April, have reached an implementation phase, with South Korea's $350 billion (about 512 trillion won) in U.S.-bound investment and the U.S.'s tariff reductions on Korea being exchanged as part of the agreement.

Choi Su-jin, Hankyung.com reporter naive@hankyung.com