'Koreans detained in the U.S.' set to depart on the 10th local time… New York stocks close higher [Morning Briefing]

◆ "Detained Koreans to depart around 2:30 p.m. local time on the 10th"

About 300 Koreans detained in a large-scale crackdown at the Hyundai Motor and LG Energy Solution joint battery factory construction site in Georgia, U.S., are expected to depart from the area around 2:30 p.m. local time on the 10th (3:30 a.m. KST on the 11th). According to Yonhap News Agency, the detainees are expected to board a charter plane as voluntary departures. They are scheduled to move to Atlanta airport after traveling by road from an Immigration and Customs Enforcement (ICE) detention facility in Folkston in southern Georgia, a drive of about 4 hours 30 minutes (428㎞). However, it has not been confirmed that all of them have chosen to leave through voluntary departure.

◆ New York stocks close higher despite U.S. annual employment figure being halved

The three major New York stock indices closed higher on the 9th local time. The annual revised figure for new jobs in the U.S. nonfarm sector was revised down more than expected, but the market absorbed it smoothly given the large downward revision that was anticipated. At the New York Stock Exchange (NYSE), the Dow Jones Industrial Average closed at 45,711.34, up 196.39 points (0.43%) from the previous close. The Standard & Poor's (S&P) 500 Index rose 17.46 points (0.27%) to 6,512.61, and the tech-heavy Nasdaq Composite Index closed at 21,879.49, up 80.79 points (0.37%).

◆ Israel launches surprise airstrike as far as Qatar…"Hamas leadership hit"

On the 9th local time, Israel launched a surprise airstrike on Doha, the capital of Qatar, targeting senior figures of the Palestinian armed group Hamas. This is the first time Israel has struck Qatar, which mediated the truce during the two-year Gaza war. The truce negotiations with Hamas also face the risk of collapse. According to Reuters and AFP, around 3:50 p.m. local time a loud explosion was heard and smoke rose in the Katara area of Doha. Qatar's Foreign Ministry said a residential building where Hamas political bureau members reside was attacked.

◆ Global oil prices rise on Israel's strike on Qatar

Global oil prices extended gains for a second trading day. Oil prices rose after Israel launched a surprise airstrike on Doha, Qatar, to target Hamas leadership. On the New York Mercantile Exchange, October-delivery West Texas Intermediate (WTI) crude oil closed at $62.63 per barrel, up $0.37 (0.59%) from the previous close. Israel carried out the strike in Doha to target senior Hamas figures.

◆ 'Worst drought' leaves September rain outlook 'grim'… East Coast on alert for autumn wildfires

Gangneung in Gangwon Province is parched by an extreme drought, and with no significant rain expected through September, concerns are rising about autumn wildfires along the east coast. Given that fallen leaves act as kindling in autumn fires, timely response is crucial and urgent preparedness is needed, officials said. According to Gangwon Special Self-Governing Province and the Korea Meteorological Administration, Gangneung's rainfall over the past six months is 341.7㎜, only 36.4% of the average. The rainfall over the past month was 42.3㎜, only 14.4% of the average. A low-pressure system passing over the Korean Peninsula could bring rain to Gangneung on the 13th with a 70–80% chance, but there is no clear rainfall forecast for the rest of September.

◆ Seizures due to last year's unpaid four major insurance premiums near 3 million cases… up 86% in five years

Cases of property or deposit seizures for failing to pay the four major social insurance premiums—health insurance, pension insurance, employment insurance, and industrial accident compensation insurance—have nearly reached 3 million, increasing by nearly 90% over the past five years. According to data received by Kim Mi-ae, a member of the National Assembly's Health and Welfare Committee from the People Power Party, from the National Health Insurance Service, the number of seizures due to unpaid four major social insurance premiums stood at 2,966,314 at the end of last year. Compared to the 2019 number of seizure cases (1,593,229), this is a sharp increase of 86.2%. The National Health Insurance Service collects the four major social insurance premiums jointly under related laws.

◆ Rain in parts of the southern regions… daytime highs up to 32°C

On Wednesday the 10th, central regions will be mostly clear, while southern regions and Jeju Island will be mostly cloudy with rain. Expected precipitation is 5–30mm for the North Gyeongsang area, 5–10mm for South Jeolla and South Gyeongsang areas, less than 5mm for eastern North Jeolla, and 5–40mm continuing on Jeju Island until the 11th. Strong winds with thunder and lightning are possible over the southern sea, Jeju waters, and the southern East Sea, so maritime safety accidents should be watched for. Daytime highs are forecast to be 26–32°C, somewhat higher than the average (24.4–28.3°C).

Oh Jeong-min, Hankyung.com reporter blooming@hankyung.com