Korean Financial Markets Daily - 2025-06-09
β Morning Espresso - Korean Credit Market
Daily intelligence from YNA, Einfomax & TheBell
June 09, 2025 - 02:11 KST
β¨ HIGHLIGHTS
π News Reported by Multiple Sources
Govt Convenes 2nd Emergency Economic TF Meeting Sources: YNA, EINFOMAX
The South Korean government is set to hold the second meeting of the Emergency Economic Task Force (TF) to discuss the details of a potential second supplementary budget (μΆκ²½) worth over 20 trillion won. President Lee Jae-myung has called for swift action to address the economic challenges facing the country, and the meeting will bring together senior officials from key economic ministries and agencies to finalize the size and timeline of the supplementary budget. The discussions are expected to provide more clarity on the government's plans to boost the economy through fiscal stimulus measures.
FSS Flags Soaring SME Debt as Financial Risk Sources: YNA, EINFOMAX
The Financial Supervisory Service (FSS) has warned that the growing debt burden of small and medium-sized enterprises (SMEs) due to the economic slowdown is emerging as a key risk factor for the financial market. The regulator emphasized the urgent need to boost capital market vitality, as there is a widening gap in funding conditions between high-quality and low-quality companies. The FSS called for proactive measures to improve financial practices and regulations, as well as to strengthen financial support and debt restructuring for SMEs to ensure adequate liquidity supply to the market.
Supplier Tech Leak Costs Doowonairconditioner $3.9M Fine Sources: YNA, EINFOMAX
The Korea Fair Trade Commission (KFTC) has fined Doowonairconditioner, a major vehicle air conditioning manufacturer, 39 billion won ($3.9 million) for violating subcontracting laws. The company was found to have improperly shared technical drawings and designs provided by its subcontractors with its overseas affiliate, without the subcontractors' consent. This represents a serious breach of trust and intellectual property rights in the Korean manufacturing supply chain, with significant implications for corporate credit risk and regulatory compliance.
Fair Trade Commission Launches Annual Subcontract Survey Sources: YNA, EINFOMAX
The Fair Trade Commission (FTC) has launched its '2025 Subcontract Transaction Status Survey' targeting 100,000 companies across the manufacturing, service, and construction industries. The survey aims to assess the current state of subcontract practices, including contract issuance, standard subcontract usage, subcontract payment terms, and technology data sharing. The survey will be conducted in two phases - 10,000 main contractors from June 9 to July 13, and 90,000 subcontractors from August 11 to October 2. The FTC noted that the survey period may be extended if necessary. This annual survey is a key regulatory initiative to improve subcontract transparency and fairness, especially after the introduction of new subcontract regulations in 2023.
β° NEWS TIMELINE
10:55 - [FX Dealer's Expected Exchange Rate Range Today] Source: EINFOMAX
On June 9, Seoul FX market dealers expected the USD-KRW exchange rate to move around the 1,360 won level. With the U.S. May nonfarm payrolls exceeding expectations, expectations for a Federal Reserve rate cut have weakened. At the U.S.-China trade talks held in the UK today, export controls are expected to be a key agenda item rather than tariffs. Dealers believed the exchange rate could rebound in early trading as concerns over an economic recession eased due to the strong U.S. employment data. However, the overall exchange rate is expected to trend downward as the preference for Korean won assets continues after the presidential election, coupled with the global U.S. dollar weakness on trade negotiation expectations.
Read More: EINFOMAX
10:50 - Democratic Party Rejects Sudden Demand from People Power Party for Judiciary Committee Chair Source: EINFOMAX
The Democratic Party dismissed the demand from some within the People Power Party that the chairmanship of the National Assembly Judiciary Committee be handed over to the opposition party, calling it
Read More: EINFOMAX
10:41 - LS Cable & System Exclusively Supplies World's First Commercialized 525kV HVDC Cable for Korea's East Coast-Seoul Metropolitan Area Transmission Grid Source: EINFOMAX
LS Cable & System (LSμ μ ) announced on September 9th that it will exclusively supply 525kV (kilovolt) high-voltage direct current (HVDC) cables for the first phase of Korea Electric Power Corporation's (KEPCO) 'East Coast-Seoul Metropolitan Area' transmission grid, the largest HVDC project in Korea.The 525kV high-temperature HVDC cables being installed feature a key characteristic of increasing the allowable conductor temperature from the previous 70Β°C to 90Β°C, thereby enhancing the transmission capacity by up to 50%. While HVDC cable technology has been developed overseas, this marks the first time a mass-produced product has been commercially applied to a transmission grid. The power industry is evaluating this as a 'milestone that surpasses technological limits,' according to LS Cable & System.
Read More: EINFOMAX
10:40 - SK Plasma and Aimed Bio Sign Joint Development Agreement for ADC-based Anti-cancer New Drug Source: EINFOMAX
SK Plasma announced on the 9th that it has signed a joint development and licensing agreement with Aimed Bio, a specialist in Antibody-Drug Conjugates (ADCs), for the co-development of an ADC-based anti-cancer new drug.
Under the agreement, Aimed Bio will conduct research and discovery of candidate substances, while SK Plasma will lead the clinical development and commercialization activities.
ROR1, an antigen that is overexpressed in various solid and hematological cancers, and ADCs, which precisely target cancer cells by combining a powerful cytotoxic drug with an antibody, are next-generation targeted cancer therapeutics.
Read More: EINFOMAX
10:37 - Hong Seong-guk: "The Idea that Pumping Money Causes Inflation is 20th Century Economics" Source: EINFOMAX
Democratic Party supreme council member Hong Seong-guk refuted concerns that the supplementary budget (supplementary budget) could lead to inflation, saying "the idea that pumping money causes inflation is 20th century economics." At the Democratic Party supreme council meeting on the 9th, Hong said, "Some forces are calling for each man for himself and pointing out concerns about inflation due to the supplementary budget." He said, "Almost all research institutions support the supplementary budget, and the People Power Party also called for a supplementary budget during the presidential election period," adding, "Concerns about inflation are not a big problem. The velocity of money circulation and the money multiplier have fallen tremendously compared to the past, so (the supplementary budget) will not cause inflation."
Read More: EINFOMAX
10:29 - Debate Over Kim Yong-tae's Term: 'End of Term on August 30' vs 'Extension' Source: EINFOMAX
The People Power Party will hold a plenary meeting in the National Assembly on the afternoon of the 9th to discuss the next leadership structure and the fate of Kim Yong-tae, the chairman of the emergency countermeasures committee. At the previous plenary meeting on the 5th, all committee members expressed their intention to resign, and many lawmakers demanded Kim's resignation. In response, Kim said he would decide on his fate based on the party's opinion. However, Kim said in a press conference on the 8th that he would prepare to hold the party convention by early September, but also stated that he believes his term should last until the reforms are completed. He said that if he can save the party, he will fully review the authority given to him under the party charter and regulations.
Read More: EINFOMAX
10:13 - Hana Securities Hiring Experienced Professionals for FX Spot and Swap Operations, Closing on March 13 Source: EINFOMAX
Hana Securities announced on March 9 that it is hiring experienced professionals to manage FX spot and swap operations. The selected candidates will be responsible for FX spot and swap operations, FX book management and internal trading, and FX sales support at the S&T Group FX Solutions Division. The application period closes on March 13.
Applicants must have a bachelor's degree or higher and at least 2 years of relevant experience. Individuals with experience in the Seoul foreign exchange market, such as dealers and brokers, are all eligible to apply.
Preference will be given to candidates with a strong understanding of financial engineering, global financial markets, and exchange rates, as well as proficiency in Excel modeling and programming skills in Python, R, and SQL.
Read More: EINFOMAX
09:58 - Park Chan-dae: * Source: EINFOMAX*
Democratic Party acting leader and floor leader Park Chan-dae said, \
Read More: EINFOMAX
09:52 - Naver and Netflix Grow Closer, Raising Tensions in Domestic OTT Market Source: EINFOMAX
As Naver [035420] is expected to expand its partnership with Netflix, concerns are rising that Netflix's dominance in the domestic online video streaming (OTT) market will become even more entrenched. This is because Netflix has gained a significant advantage in attracting new subscribers through the powerful distribution channel of the Naver Plus membership.Domestic OTT companies are seeking to survive by actively forming alliances and producing specialized content intellectual property (IP), but they continue to struggle to keep up with global OTT players like Netflix.According to the industry on the 9th, Naver CEO Suyeon Choi and Junggu Kim, the CEO of Webtoon Entertainment, ...
Read More: EINFOMAX
09:49 - [Shin Yun-woo's Foreign Exchange Analysis] Winds Blowing from the United States Source: EINFOMAX
The won-dollar exchange rate is expected to start around 1,360 won on the 9th. Movements are expected to cautiously explore the direction, weighing the significance of external variables that have accumulated during the Memorial Day holiday period. The majority of variables that the market is currently considering are from the United States. Economic indicators, trade negotiations, and statements by President Donald Trump are among the key factors that will impact the market, all bearing the 'United States' label.
First, the U.S. May employment data is evaluated to be relatively favorable. Non-farm payroll employment increased by 139,000 compared to the previous month, exceeding the market expectation of 130,000. The unemployment rate remained at 4.2%, and the average hourly wage increased by
Read More: EINFOMAX
π TAIL
Direct Sources
β’ Policy & Economy: YNA Economy β’ Bond & Forex: Einfomax Markets β’ Corporate Credit: TheBell Financial
Intelligence Summary
β’ Articles Analyzed: 280 β’ Active Sources: YNA, EINFOMAX, THEBELL β’ Analysis Time: 574.4s β’ Coverage Period: Last 24 hours
Powered by FinESP Intelligence | Next update tomorrow at 08:30 KST