Only 40% in OECD, South Korea's Elderly Poverty Rate [3-Minute Brief]

[3-Min Brief 3-Second Summary]
① Employee earning 120 million KRW/year, next year's health insurance premium 4.24 million KRW/month
② 7.88 million KRW per person... Japanese companies' bonus party
③ Which is the 9th domestic new drug to be approved under the US FTA?

MARKET INDEX

- US New York Stock Exchange's three major indices rally on interest rate cut expectations
- Fed officials' hawkish remarks fail to halt rally
- Inflation pressures easing gradually in major countries including the US

TOP 3 NEWS

■ "Rising interest rates curb spending... Consumption slowdown scarier than vulnerable borrowers"

- Consumer growth halted since July last year
- Consumers close wallets as interest rates rise
- Increase in loans and DRS slows consumption growth rate

■ Office worker earning 120 million KRW monthly to pay 4.24 million KRW health insurance premium next year

- 330,000 KRW increase compared to this year
- Health insurance premium cap adjusted from next year
- Mainly targets business owners and executives

■ "Received an average bonus of 7.88 million KRW per person"… Japanese companies hold record-high winter bonus celebrations

- Thanks to overall improved corporate performance
- Especially strong in tourism and service industries
- However, bonuses lag behind inflation increases

Graphic News: Who will be the 9th Korean domestic new drug approved by the US FDA?

- GC Green Cross's immunodeficiency blood product 'Aliglo' approved
- Number of Korean FDA-approved new drugs increased to 8 since 2003's 'Pactiv'

- HLB's 'Rivoceranib' and Yuhan Corporation's 'Lexaza' awaiting FDA approval

the Chart: Korea sets new records again, highest elderly poverty rate in OECD… the only one in the 40% range

- OECD 'Pensions at a Glance 2023' report
- Korea's elderly poverty rate (age 66 and above) at 40.4%
- Highest poverty rate… three times the OECD average (14.2%)

Terminology in the News: AI alliance opposing Open AI

- 'AI Alliance' formed by over 50 AI-related companies and institutions
- Core goals: breaking monopolies, ensuring openness and transparency

- Tools for AI safety and model verification to be launched

Today's Key Schedule

○ Domestic
open>Incheon e-Pyeonhansesang Jemulpo Station Park Maison, Chungbuk Cheongju Gagyeong I-Park 6 Complex, Incheon Wanggil Station Royal Park City Prugio (9-1), Gyeonggi Osan Segyo Paragon (A3), Busan Atelier 933, Seoul Mapo Prugio Urban Peace, Gangwon Gangneung Moa Miraedo Ocean River

○ Overseas
- 01:30 US Atlanta Fed Q4 GDP Now
- 08:50 Japan November Trade Balance
- 10:15 China People's Bank of China (PBoC) Loan Prime Rate
- 16:00 UK November Consumer Price Index

- 16:00 Germany November Producer Price Index

◇ Lunch & Commute Weather

○ Lowest temperature: -9℃(▼1℃) ｜ Highest temperature: -5℃(▼7℃)
○ Precipitation probability: Morning 0%｜Afternoon 10%
○ Fine dust: Morning Moderate｜Afternoon Moderate

OK in 3 minutes, essential time-efficient economic news. Published daily at 8 AM.

This content was produced with the assistance of AI translation services.