Korea Economic Daily

Willingness to Revise 39% High Tariffs Switzerland has expressed its willingness to revise the existing negotiation plan to avoid the 39％ high tariffs announced by U.S. President Donald Trump. On the 3rd (local time), Reuters reported that Swiss Econ

Expansion to Three Pro-Trump Board Members 80% Probability of a Rate Cut in September Donald Trump, who has been pressuring Jerome Powell, Chair of the U.S. Federal Reserve (Fed), to cut the benchmark interest rate, now has the chance to nominate the

Impact of the GENIUS Act Pass in the US Major Law Firms Stepping Up Responses Accelerated Legislation of Stablecoins President Lee’s Campaign Pledge…Possible Implementation Within the Year Non-financial Companies Eyeing the Stablecoin Market Kim & Ch

Donald Trump, the U.S. President who has been pressuring Federal Reserve (Fed) Chairman Jerome Powell to cut rates, may be able to nominate the next Fed Chair sooner than expected. This comes after Adriana Kugler, a Fed Governor known for her cautiou

Crypto asset prices are on a downward trend. This comes as concerns over the economy grow due to slowing US employment indicators. As of 8 a.m. (Korea time) on the 3rd, the price of Bitcoin listed on CoinMarketCap stood at $112,634, down 0.5% from 24

NH "KOSPI Weekly Range: 3,000–3,300" On the first trading day of August, the KOSPI index experienced its steepest decline since the inauguration of Lee Jae-myung's administration. This is attributed to disappointment over the government's tax reform

Nonfarm payrolls increased by 73,000, falling short of expectations Substantial downward revision of May and June employment figures Treasury yields plunge on rate cut outlook The increase in U.S. July employment fell sharply below market expectation

GOP Super PAC far outpaces Democrats in funds held Securing war chest for next year’s midterm elections Former President Donald Trump’s Super PAC (super PAC, or Special Political Action Committee) raised $177 million (about ₩2.46 trillion) in the fir

All three major indices drop NASDAQ 2.2%↓ On the 1st (local time), all three major indices in the New York stock market declined. This followed a significant worsening of U.S. employment conditions due to the Trump administration's tariff policy. On

U.S. employment figures for July fell far short of market expectations, leading the New York stock market to start lower on the 1st (local time). At 10 a.m. (local time) on the 1st, at the New York Stock Exchange, the large-cap benchmark S&P 500 Inde

Panic Over Tax Hikes... KOSPI's 'Black Friday' Plunges 3.9%... KOSDAQ Down 4% Tax Reform Disappoints, Triggering Sell-Off The KOSPI Index plunged nearly 4%, marking a 'Black Friday.' As hopes for government support to boost the stock market cooled ra

“This (tariff) measure is an economic revolution, and we will win. Hold on; it won't be easy, but the outcome will be historic.” (Donald Trump, President of the United States, Truth Social post on April 5) President Trump claimed initial victory in t

US announces new tariff rates for 69 countries The Donald Trump administration, on the day before the scheduled announcement of reciprocal tariffs on August 1st, released the final list of reciprocal tariff rates for 69 trade partners. According to t

Fast remittance and low fees are advantages Promotes competition in the payments market, enhancing efficiency Excessive issuance of won-backed stablecoins Concerns about adverse effects such as weakened monetary sovereignty Sufficient consideration o

U.S. President Donald Trump lowered the reciprocal tariff rate on Korean products from the previous 25% to 15%, as agreed with South Korea. On the 31st (local time), President Trump signed an executive order adjusting the country-specific reciprocal

NYT: "Even If Rate Cuts Begin, Trump’s Attacks Will Continue" Scott Bessent, U.S. Secretary of the Treasury, anticipated that the successor to Jerome Powell, Chair of the U.S. Federal Reserve (Fed), could be announced around the end of the year. In a

Major indexes closed lower on the New York Stock Exchange. Microsoft (MS) and Meta Platforms (formerly Facebook) started strong after reporting impressive earnings, but economic data uncertainties and drug price reduction pressure from U.S. President

◆ New York Stock Exchange closes weak as profit-taking follows Microsoft's $4 trillion market cap milestone The three major indices of the New York Stock Exchange closed lower. On the 31st local time, the Dow Jones Industrial Average ended the sessio

Lutnick: "90% of profits will go to the U.S." Presidential Office: "It likely refers to reinvestment" Interpretations differ regarding the U.S. statement on South Korea's proposed $350 billion investment plan in America. Unlike Japan, the agreement t

In June this year, household spending rebounded for the first time in four months. This is attributed to the alleviation of political uncertainty following the launch of the new government and the rebound in the stock market. However, facility invest

The Urgent US-Korea Tariff Negotiations: What Sparked the Rapid Progress? Korean Negotiation Team Coordinating Relay Talks with the US Yeo Han-gu Met with Lutnick 10 Times Kim Jung-kwan Traveled Between Scotland and Washington Dramatic Progress Trigg

First tax proposal of the Lee administration is a tax hike... Half of the burden falls on large corporations Corporate tax rate raised by 1%p for all companies Increased securities transaction and major shareholder capital gains taxes Tax revenue exp

$350 billion investment in the US... $100 billion energy purchase commitment Trump: 'Complete trade agreement with Korea...Summit with Lee within two weeks' President Lee: 'Created conditions to compete on equal terms with major countries' 'Mutual ze

Kim Geon, the secretary of the People Power Party on the National Assembly's Foreign Affairs and Unification Committee, commented on the Korea-U.S. tariff negotiations being concluded on the 31st, stating, "It is fortunate that the negotiations have

"US Lawmakers Demand Location Tracking Feature on Exported Chips" Sudden 'Check' After H20 Chip Import Resumed Chinese authorities have recently pressured NVIDIA, claiming that 'serious security issues' were found in the company's H20 artificial inte

"Much of the uncertainty in the trade environment has been resolved" "Relevant ministries to closely examine public concerns" President Lee Jae-myung stated regarding the mutual tariff negotiations between South Korea and the United States, "We have