Real Estate Subscription Frenzy in Korea

Hyundai Motor Group expands Advanced Air Mobility business in Indonesia, with plans for commercialization of AMAM aircraft from 2028.

### Real Estate Subscription Frenzy and Economic News Updates
* 🏠  Over **2.5 million people** participated in a lottery for new apartments in Seoul, with **641 units** available for subscription in the One Pentas Lotte Castle complex.
* 📈  The Korea Real Estate Information Center extended the application deadline to 11 p.m. to accommodate the overwhelming demand, with **estimated waiting times of up to 699 hours**.
* 💰  Apartment prices in popular areas like Banpo are soaring, with the lottery subscription price for a 84 square meter unit reaching **2.3331 billion KRW (approximately 23 billion KRW)**.
* 📉  The real estate market is experiencing **high demand and price increases**, with concerns about **potential overheating and speculation**.
* 💼  The TMON and WeMakePrice settlement support incident continues, with CEO Goo Young-bae announcing plans to **sell the Q10 stake to address damages**.
* 🔥  A large-scale fire at the S factory in Ulsan has caused the suspension of the J2 paraxylene process, potentially leading to **significant losses for the company**.
* 🧬  The Korean Bio Association released a report on the global bio CDMO market, showing Samsung Biologics ranking **4th in revenue** but **1st in production capacity**.
* 🤖  Doubts are raised about the sustainability of AI investments, with concerns about the **massive costs involved** and the need for **profitable business models**.

Overwhelming news content, 3% Newsroom. Hello, I'm Jiho Lee, a reporter. Hello, this is Juwon Ryu, a reporter. Oh, I can't sleep because of the heatwave. I guess I'm not the only one. Just turning on the air conditioner should help, but these days, the electricity bills keep going up. It's scary, isn't it? How can we afford to turn it on? Right, I turn it on to survive and sleep, but still, these days, there's a sleep function. Yes, if you set the sleep function, for example, if you set it to 25 degrees and leave it on overnight, it gets colder. If you set the sleep function, the air conditioner gradually raises the temperature little by little as time passes. But there's a downside to it. It's hot. It got hot in the early morning, so I woke up like this.

People like us who have a lot of body heat seem to have poor cooling functions. I don't know if you all sleep well at night. I couldn't sleep well in the early morning, so I couldn't sleep. What are friends, friends, what are friends? Anyway, today I have prepared various news for you. Right now, I am very excited. Let's hear the first news about extreme cold from our reporter Ryu Jong-hoon. Aren't I very interested in real estate? Today, an unprecedented Cheongyang Day was held. What was it today? Now, in cities like Dongtan, Banpo, Mokdong, which have been very hot recently, there have been non-ranking subscriptions and cancellations. Today, there was a special subscription for the canceled quantities. I think a few people gathered here. With this news, there are lotteries of 1 billion and 2 billion won.

The region is correct, yes, yes. How many people? How many? Oh, how many are there now? I don't know. About one million people, one million, one million. Please write more. You need to write more. There are over one million people. Please show it on the screen. Show it once. At one point, about 2.5 million people gathered. That's right, 2.5 million people. This is a subscription home. I am now operating a subscription website in the country. Since the subscription website was created, the most people have gathered now. As you can see, the estimated waiting time is 699 hours and 53 minutes. You have to wait for a few days, about 700 hours, to get in. You can get in around next year or the year after, right? I'm not sure about the time. There were a huge number of people in front of me. But with about 2.5 million people coming in, the server just crashed. In simple terms,

So, there were many cases where the screen didn't even appear like this, and now, as it is, there are millions of people waiting for this subscription. If the subscription homepage crashes and I can't get in, it's going to be a big problem. That's why the Korea Real Estate Information Center made an unprecedented announcement today for smooth subscription services. In order to provide smooth subscription services, the deadline for applications, which used to end at 5:30 p.m., will be extended until 11 p.m. Yes, until 11 p.m. If it's extended like this, people can come in a bit later, like after work hours, and it will be less crowded. That's the reason for this decision this time. If there are 699 hours left in the waiting time, we should acknowledge those 699 hours, right? However, since many people leave in the middle, how many times...

I tried, but later found out that about 1.4 million people, or 1.1 million people, actually participated. After 3:40 PM, it seemed like the server was a bit overloaded. Some could enter, some couldn't. If you try to log in now, you might be able to get in. Once you're in, every time you proceed to a new step, it tends to shut down. So, perhaps it would be better to have dinner and then try again. The reason why so many people gathered this time is because, as mentioned earlier, there are many hot spots in the subscription home. I've summarized this, let me show you. This is a summary of the Korean real estate market. Look, there's L'Imian One Tower and Pentas. Do you see it? This is an apartment in Banpo. This apartment is now participating in the lottery subscription for 2 billion won.

The apartment they call a 20 billion won apartment. Yes, that's correct. And these days, due to GTA, GTX, Dongtan Station, Lotte Castle has become quite famous. Now, there are Hwaseong Hills State, The Summit, Seon Central 2nd complex, a total of 9 complexes. This time, the lottery was conducted for these complexes. What many people were curious about was actually One Pentas Lotte Castle. Where is One Pentas? If you show it for a moment, it is right next to Shinbanpo Station. It is an apartment in the station area right next to Shinbanpo Station. The current offering price here is... Oh, and one unique thing about this apartment is that it is a post-subscription, not a pre-subscription. The subscribers are already living in it, and the general subscription quantity is now post-subscription, a total of 641.

Among the furniture, 292 units are designated for pre-sale this time. Especially, what many people are interested in is the apartment with a citizen's area that is now being called a national average size. It accounts for about 74% of the total general pre-sale volume at 215 units. The quantity is not small, quite a lot, right? Usually, when things like this happen, it's like three households or something, but not this time. Currently, over 200 households are applying for the lottery, right? That's right, that's right. In this case, mainly talking about the standard of 84 square meters, the pre-sale price is said to be 2.3331 billion won. It's 23 billion. Did you hear that? 23 billion. Why is it 20 billion? It's 23 billion. The apartments around here are forming prices ranging from about 4 billion to 4.5 billion won for the same area. So, if this goes through, in terms of calculation, it's a fact that you can earn about 20 billion won through the lottery. But in reality, this is.

In theory, even if you have 2 billion won, you cannot make 2 billion won right away. Because areas like Banpo are currently subject to regulations, you must reside there for 3 years. Moreover, during these 3 years, there is also a restriction on selling the property. Therefore, participating in the lottery for an apartment now means you cannot sell it to someone else immediately. So, after 3 years, can you sell it right away? Not exactly. You have an obligation to actually reside there. Therefore, you must live there for at least 3 years to enter. Another thing is, as I mentioned earlier, the hufun or hufunyeong system. To participate in this system, you need to be able to pay the down payment immediately. Typically, after participating and paying the down payment, it takes about 2 to 3 years to build the apartment. During that time, our balance is built.

After receiving a down payment, you get a down payment loan. Typically, the final installment is paid if you have the money, or you can put down a deposit. In this case, it's very tight. First, you need to be able to pay around 430 million to 460 million as a deposit. Right now, you need to have about 500 million in cash. In fact, you need to be in a situation where you can enter the won-pen task. Also, you need to pay the remaining 80% balance by October 20th, which means you need to pay 460 million within a month and 1.87 billion within three months. Although not all of the 2.5 million people who applied for this will be able to afford such a large amount of cash, a lot of people are coming. In my opinion, out of 2.5 million people, around 2 million people probably came after seeing this.

The second apartment in Dongtan is now available for move-in cleaning. This is a public apartment, with 84 units. In this case, the price is around 470 million to 480 million won. If you see the price is around 480 million, the surrounding market price for apartments is said to be over 1.4 billion won. So, if you wait, you can immediately see a price difference of around 1 billion won. This is a somewhat plausible statement. Especially in the Dongtan area, it is currently an unrestricted area, so there are no restrictions on resale or mandatory residency periods. For example, if I said 4.1 billion earlier, I would pay a deposit of about 960 million, and then I would receive this...

I'll take this and then in the case of the remaining amount, I can either pay the deposit or sell it right away, or something like that, which is not just a theory but something that could actually get 1 billion won, but the transactions may not go smoothly. In fact, oh, transactions won't be easy. And now, in this apartment complex, about 2 million people are expected to have gathered, as I mentioned earlier. What I mean by that is, as I just mentioned, regardless of the region, whether I live in Seoul, Busan, or Jeju, as long as I have a subscription account for those over 19 years old, anyone can do it. So, now everyone is looking at only this and many have entered. But now, in the case of cancellation of the remaining households, there are some.

In some cases, contracts have been literally canceled, or people have been disqualified. This time, it is said that there are cases of contract cancellations. In such cases, they are usually participating in lottery subscriptions to see who will be selected. I'm curious about who will be selected. In the case of Lotte Castle, actually, the non-priority subscription was supposed to be only for one day, but too many people rushed in, causing delays in the process. So now, from the Korea Appraisal Board's perspective, it is recommended to turn on the real estate market. It's an unprecedented situation, a critical situation. Also, many people living in Seoul are closely watching. In fact, Mok-dong, which can be called an education-centered city, is in the spotlight. It is said that even in Mok-dong, if you have a home in Han River Banpo, you may be able to make a profit of around 500 million KRW. In this case, the current offering price is around 800 million KRW.

It's about that level, but when you actually look at the transaction prices, the bid price is around 1.3 to 1.4 billion won. So, if you just wait, you can probably see around 500 to 600 million won here. These are the stories that are being told right now. It really feels like a story from a different world, and at least it's not my story. For now, I don't have millions or hundreds of millions. In my case, I thought about trying it out in Dongtan once, so I looked into it. Actually, it was 200 to 1 to get in. Oh, it's 200 million to 1. Not 200 to 1, but 200 million to 1. Maybe it's the highest competition rate in history to be born. So, I just gave up. Why did you deliver the news? Why are you making our hearts heavy? Actually, what I have told you is about real estate like this now.

The market is very unstable right now. It seems to be another proof. For example, real estate prices in Seoul have increased significantly. In the Gangnam area, prices have almost fully recovered. I have found that in some places like Jamsil, there are elite apartments that have also almost fully recovered. For apartments, the previous highest transaction amount was around 2.7 billion KRW, but now it has increased to 2.6 billion KRW. Even in areas like Maengsung, most have surpassed their previous peak and almost fully recovered. Because of this, many people who are looking at these areas are feeling rushed, and when there is a so-called jubjub subscription like this, many people tend to gather. As for the outlook for the second half of the year, experts are talking differently now.

I'm talking about whether we have already recovered a lot of the previous peak. If we have recovered the previous peak, we need a new momentum to go up again. Those who are currently holding may feel good, but those who are considering whether to enter or not are said to require a very cautious attitude. Many people are actually looking forward to a decrease in interest rates in the second half of the year. However, it is very complicated to decrease interest rates. In order to lower interest rates, it is often said that the U.S. interest rates must first be lowered. However, it may not be easy to lower U.S. interest rates due to the current election issues. Also, next year, we don't know what information will come in. There are issues like Haley or Trump.

Both sides seem to be taking a strategy of raising tariffs. If tariffs are increased, there is concern that inflation in the U.S. could worsen. Then, would it be easier to lower interest rates? There are discussions like this, but aside from that, just to revitalize our industries, we might not know about inflation and could lower interest rates. If that happens, if it decreases four or five times, there is a possibility for our country as well. Those who view this way are sharply divided. Personally, I'm not a real estate expert, just a journalist named Chae-je. Since I see many people around me feeling anxious, I feel like polarization will worsen too much. So, in fact, only those who hold some liquid assets may be able to participate in some subscription forms.

You know, recently there was a performance announcement from Hermes, and right before that, there was a performance announcement from Louis Vuitton. However, Louis Vuitton's performance was not good due to the decrease in consumption in China. It's rare for luxury brands to have poor performance, but during the same period, Hermes' sales increased by almost 13%. So, for real beginners, they should never be influenced by such extreme cases. Luxury goods that the middle class can still afford might actually suffer from the impact of consumption. However, places where huge amounts of cash like 12 to 20 billion won are being held are very popular, while apartment complexes in local areas are facing a surge in unsold properties. Yes, this situation will continue like this.

I am curious about whether it is possible. In fact, the polarization between regions is severe right now, and even within Seoul, the polarization is getting worse. So, when the polarization deepens, the middle ground disappears. When the middle ground disappears, there will definitely be a crack somewhere. Understood. Alright, let's move on to the next news. I will provide a bit more update on the TMON and WeMakePrice incident. So far, many people have criticized the whereabouts of Gooyoungbae. Where on earth is this person and what is he doing that he hasn't said a word? Today, he distributed press materials to reporters, expressing deep condolences to all partners involved in the damage caused by the team and WeMakePrice settlement support incident. Customer damage

By minimizing and swiftly dealing with the situation, you need to come up with some kind of measure. Looking at the measure you've come up with, you have announced a press release stating that you will mobilize all available resources with a sense of responsibility, utilize personal assets, secure the liquidity of both individual team members and WeMakePrice, and either sell the entire Q10 stake as part of the assets or use it as collateral to address this situation. I didn't directly come out and say this, but I announced it through a press release. In reality, if you sell the Q1 stake to secure liquidity, then with that fund, you can support WeMakePrice or the team members next. The concern arises as to who will buy this Q10 stake. This platform is undoubtedly about trust in settlements, and sellers must have the trust that they will settle their money.

It's a platform, and from the consumer's perspective, there should be trust that they will send the product when I make a purchase here. This trust from both sides is what keeps this platform going. In reality, both sides' trust is crumbling, so the question of who will buy the shares of Q10, which is held by both the team and WeMakePrice, remains. I prepared the ownership structure once, so let me show you. Of course, not only Auction and WeMakePrice but also other e-commerce companies are included. Recently, they acquired AK Mall and other places, and they also have Huixpress. This is a logistics company in Singapore. In fact, through this logistics, they planned to achieve some scale of economy and expand the platform. This was CEO Go Young-bae's plan to grow it like that.

Now, it was President Gooyoungbae's plan to go public, but even though there are other platforms, if you look closely at what is happening these days, there is Interpark Triple where they sell tickets and coupons. In fact, this has nothing to do with Interpark Commerce. Oh, I see. That's right. So, when we acquired Interpark Commerce, there are other companies with names like Interpark Triple and Interpark, but they are completely unrelated companies. However, because the name Interpark is attached, there are movements where people are hesitant to purchase from other companies. Therefore, a clarification document stating that companies like Interpark Triple are completely unrelated to us is currently being released. The reason I am telling you this is because the price of the share is falling.

I'm saying that it is not sustainable, and even if the name is the same, the indoor platform is in danger of collapsing, so we issued this press release. Ultimately, in order to secure funding, trust must be the foundation. I still have doubts about how much the owner of the indoor platform, Q10, can sell their shares to raise funds. Also, what was a bit strange here was that CEO Gu Yeong-bae stated in the press release that the estimated damage to team members and WeMap customers is around 50 billion Korean won, mainly focusing on travel products. However, the Financial Supervisory Service estimated the damage to be over 170 billion won, and today, the relevant ministry estimated the unsettled amount.

The estimated amount of consumer damage related to the TF ministry is around 170 billion won. The estimated amount of unsettled funds calculated by the task force of related ministries is approximately 210 billion 100 million won. However, even though this amount is stated as 210 billion won, this is the amount that has not been settled until May. As mentioned several times before, it takes two months to receive and settle the money. So, the settlement amounts for June and July, which have not been estimated yet, are now said to be around 210 billion won. Therefore, the scale of that amount could increase significantly. President Gu Young-bae estimated the damage to consumers and customers to be around 500 billion won. Hence, it is hard to understand why there is such a discrepancy in these calculations. Clearly, there are some aspects that are difficult to comprehend. The government is currently estimating over 2 trillion won and has decided to provide guarantees for about 560 billion won.

When I thought about it, 50 billion won is too much, right? I don't have much to say. Actually, that's why. In fact, we have decided to immediately inject 560 billion won of liquidity. However, the utilization plan for this liquidity is that currently, the sellers have sent the goods but have not received the money yet. So, we plan to provide loan support that those sellers can utilize. Through loan support, the concept is to buy some time to sustain. This support policy has been implemented based on this concept. After reviewing the actual content, I looked at the reaction of the sellers. Yes, the response that struck me was quite heartbreaking. During the pandemic, there was pandemic support loans, right? The support period for those loans has just ended. So, until then, they extended the loan maturity, provided refinancing, so even if you just paid the interest, you could sustain it.

During the pandemic, as it is now coming to an end, it is time to start repaying the principal little by little. However, due to this situation where people are just starting to repay the principal, there are also those who need to borrow more loans because of this crisis. Some have expressed reactions like, I just started repaying the money, but now I have to take out another loan. Because of such responses, it is not easy for sellers. Of course, through these emergency liquidity resources, we need to prevent bankruptcies. There will surely be an effect in preventing bankruptcies. If bankruptcies are prevented, it will also help maintain the jobs of the employees that these sellers have hired. Therefore, it is natural that this support is necessary. It seemed like sellers are going through a tough time, and I felt that this difficult situation might continue for a long time. And then, the government definitely, based on the basic principle of the fault of Wemakeprice and Teamwon, is also...

The policy of conducting inspections has been established, and the consumers of A team have now decided to sue CEO Q10 Goo Young-bae. So, clearly, it seems that there are certain lax management areas or issues related to embezzlement and misappropriation. Since the lawsuit has been filed, please keep an eye on this matter. Well, I am quite worried that the T-Firm incident will last longer than expected. The next news is also somewhat unfavorable. Yesterday, a fire broke out at the S factory in Ulsan on a large scale. With this incident, until yesterday, it was reported that there were no casualties, but today, actual damages are gradually being revealed. When a fire occurs, the factory cannot operate. If the factory cannot operate, the company will suffer losses due to production disruptions. This will gradually lead to losses for the company.

It is evident that today, due to a fire that occurred on the 28th, the operation of the J2 paraxylene process at the Onsan plant has been suspended. They announced it today, the 29th. This paraxylene is a raw material used in various products, including fast fashion clothing, textiles, polyester, and PET bottles, which have high added value. If this process is halted, the potential damage can be significant. According to the current announcement, the annual sales of the J2 paraxylene process last year amounted to approximately 2.5 trillion 210 billion Korean Won, accounting for a substantial 7.1% of the total annual sales. Calculations show that a daily shutdown of the factory would result in a loss of about 7 billion Korean Won. As the process has been halted for two days now, the current estimated loss stands at around 14 billion.

It's estimated to be about 1 trillion won. The current problem is how much the amount of loss will increase. There are still uncertainties about this, whether it's due to work or the fire authorities themselves. In the case of this factory, it is producing about 1.05 million tons annually of paraxylene, so you can see that it accounts for a significant portion within the company. Fortunately, the fact is that there are no casualties yet. Yesterday, it was reported that there were no casualties. However, every time a fire accident like this occurs, the entire company goes through a tough time. You may all remember that last year, in the case of a company like Hankook Tire, when such incidents occurred, the factory was almost non-operational for about half a year. Fortunately, at that time, from the company's perspective, by having fire insurance, the compensation amount was much higher than the previous sales.

Therefore, from the company's perspective, there may not be a significant financial loss, but on the other hand, this could lead to a disruption in the supply, which could cause various operational and business issues for the suppliers. This can have a significant impact on the industry as a whole. Especially in industries like the petroleum sector, which is already facing a negative atmosphere these days, with incidents like fires occurring, it is likely that companies are well insured financially. However, it is essential to continuously monitor what kind of impact it will have on the industry in the future.

Although it's an industry, in fact, touching Kwon Dohyung means touching the money that shouldn't be touched. However, since there is no regulation in the law, even if it's touched, there was nothing that could be done about it. The amount we need to settle is a significant sum, but we don't have to use it until it's returned, so in fact, it's likely to be touched. It's presumed to have been touched. If not touched, there wouldn't be a shortage of money, so everyone is thinking rationally that it must have been touched. It also looks quite similar in terms of having touched the money that should be given to the sellers. I felt that way too. Is there a reason to keep it for two months? But really, as I see it, each e-commerce company has different normal periods. Some companies have 15 days, and some companies have 45 days.

In the case of platforms like Team F, it's usually quite long, right? Yes, that's right. Up to two months, I hadn't commonly seen this. So, I have covered many platform companies as well. Therefore, especially the platforms that want to recruit sellers present some benefits to attract those sellers. Among them, one thing is offering a short settlement period as an incentive. They recruit a lot through these incentives because sellers need a short settlement period to receive money, buy goods again, sell them again, and receive money again. This is possible, but in reality, two months is quite... So, they sold a lot of unnecessary things, especially team members, like gift vouchers, at a 10% discount. There are actually victims around me at that time. Yes, there were victims in the past with the merging points, and this time as well. This is actually a bit.

Many ordinary people who want to buy items at a lower price end up suffering. For example, when they buy a 50,000 won gift certificate for 45,000 won, it's like getting a 10% discount when purchasing items. That's why many people try to buy things a little cheaper in advance. If those people are now hit like this, I understand. Let's move on to the next news. The next news is about the Korean Bio Association releasing a report on the current status and future prospects of the global bio CDMO market. It's quite interesting, so I brought it here. In fact, when it comes to bio CDMO companies in Korea, Samsung Biologics stands out. However, whenever I talk about Samsung Biologics, as a reporter, I always get confused about what was the most confusing point.

In terms of production capacity, Samsung BioLogics is clearly the global leader. However, Lonza from Switzerland is the world's number one company. So, depending on the criteria, the rankings differ. If we look at it from a revenue perspective, Lonza is indeed number one. But when it comes to production capacity, Samsung BioLogics is the world's number one. The Korea Biotechnology Association has provided some insights on this. So, if we consider the global revenue rankings, they showed the rankings of CDMO companies. Let's take a look at the screen together. As I mentioned earlier, Lonza holds the largest share at 25.6% in terms of revenue, so it is rightfully in first place. Then, you can see who the next company is. Here is WuXi Biologics from China, with a 12% share, ranking second. And Cytiva, which is an American company, is in third place.

Catalga is an American company, holding a 10% market share, ranking third. The fourth is Samsung Biologics with 9.9%. But I think a bit more investigation is needed. Catalga is, where is it now? It's a company that focuses on obesity treatments. They recently sold a factory to Novo Nordisk. This is as of 2023, but somehow, if Catalga sold two production plants, I have a feeling that by 2024, Samsung Biologics might jump to third place. The second is Ushi Biologics, the second-largest in the world. It's a CDMO company. When the biologics security law passes in the U.S., Ushi Biologics, which accounts for 10% of the world's total, will have reduced capacity to handle. They won't be able to take on that amount.

Then, we could also see things like the volume of Catalonza Aden Bering or Samsung Biologics moving in that direction. Not only that, but there was also a discussion about the growth rate. The so-called CDMO industry is growing very rapidly worldwide, with an expected average growth rate of 9.9%. As it continues to grow like this, by 2024, biopharmaceuticals will account for a significant portion of the entire pharmaceutical industry at 34.1%. Furthermore, by 2028, it is expected to increase to 38% of the total market share. Another significant point to consider is which field is currently growing the fastest.

Where is the field? Have you heard of Keytruda? Oh, I don't know well. Keytruda, so until now, because the problem is cancer cells, existing anti-cancer drugs attack cancer cells, but in the case of Keytruda, it activates immune cells to kill cancer cells. Yes, that's right. Keytruda is very popular, and its global sales are huge. Companies like Samsung Bioepis, Celltrion, are preparing for biosimilars of Keytruda. These areas are growing significantly. Next, GP1 inhibitors, commonly known as obesity treatments, are also growing significantly. Investors in the bio-related industry are focusing on where the bio industry is heading.

I have prepared a nice-looking document, so let me share the news. The next news is related to the Hyundai Motor Group. These days, there is a lot of good news about the Hyundai Motor Group. Not only domestically but now also in Indonesia. Recently, instead of what we commonly referred to as UAM in the past, nowadays it is often called AMAM. They are planning to actively promote Advanced Air Mobility business. To do this, officials from the Indonesian Ministry of Transportation, the Jakarta government, and Hyundai Kia Motors gathered together and showcased a lot this time. If you could show a picture here, it is the AMAM aircraft that was demonstrated today. Actually, Hyundai Motor is not currently producing this; it is being developed by the Korean Aerospace Research Institute as the beginning called Opala. They demonstrated how it will move today and showed a bit about it, and Hyundai Kia Motors is working on it.

There is a separate one. Now, this time, the model called SA 2, which was released at CES ES, is aiming for commercialization from 2028. When this aircraft is launched in Indonesia, Hyundai cars will move on the ground. In the sky, this aircraft will move. In simple terms, Hyundai's plan is to create a total future service solution. Oh, I see. It's going to be in Indonesia. Yes, that's right. Hyundai in Indonesia is quite active these days. Recently, they are producing batteries with LG Energy Solutions called HLI Green Power. They are also producing electric cars directly here, including the Ioniq 5. There are not many overseas factories producing the Ioniq 5. It is being produced at the Ulsan plant.

The fact that Hyundai Motor Company is investing in a factory in Indonesia shows how much they value the Indonesian market. Indonesia seems to have some compatibility with South Korea in some ways. Besides the Kai incident in the past, they received something else. What did they receive back then? They received it in kind instead of money. I can't remember exactly, but they received it in an absurd way. Recently, we had a unique experience. I won first place with a cushion I had in Amazon. It's a cushion called Kutierte, a foundation cushion, and it ranked first in the beauty category. So, it was very unusual. In the United States, there are white couples and black couples with different skin tones, so the cushion should match their skin tone. How is this possible?

I was wondering if our Korean cosmetics are popular, but I heard various stories. We will upload that on our exclusive channel. The Indonesians seem to love that brand or Korean cushions. So, why do Indonesians like them so much? Those people have their own stories. We will reveal these contents through our exclusive channel. Since it's news time today, I will share one more news that happened today. As we wrap up, doubts about the sustainability of investment in artificial intelligence keep coming up one by one. Of course, it could be due to the drop in Nvidia's stock price, but which came first, the chicken or the egg?

I'm not sure what comes first, but these days, there are continuous doubts about whether investing in artificial intelligence is really sustainable. Then, in today's news, The Economist mentioned that nearly 133 trillion won will be invested by 2027. This raised questions about where the money will come from. An article was published regarding this skepticism. If we take a look at the content, New Street Research estimated that investments in artificial intelligence data centers from 2023 to 2027 would amount to 138.2 trillion won. Currently, a significant amount of investment costs are involved there. However, no one seems to be considering reducing such a large amount of investment costs and leading the way. For instance, the CEO of Alphabet, Sundar Pichai, mentioned in last week's earnings conference call that no one is thinking about reducing the massive investment costs related to building AI data centers.

Just emphasizing that the risk of not investing is greater than the risk of over-investing, it's like saying it's better to over-invest and spend a little more than not investing at all. But in this case, what happens? Ultimately, it leads to winner-takes-all, where someone survives, which is fine if one winner-takes-all data center survives. For example, if Azure from Microsoft survives, it's okay that they survive, but then what about the numerous data centers built by other companies? That's the first point. And another news from last week, even a company called DInformations analyzed financial data and found that about 6 trillion this year.

It is expected to record a deficit of 900 billion won, but if you divide this amount a bit, it is analyzed that the operating expenses of the company will be almost 117 trillion won annually this year. So, when we talk about won here, it refers to the annual amount of operating costs for GPT alone, which amounts to 117 trillion won. And we will need labor costs. Labor costs are about 1.5 billion dollars, which seems to be around 2 trillion won in Korean currency. So, just combining these two, it seems that almost 137 trillion won, nearly 140 trillion won, will be spent. However, OpenAI has attracted a total investment amount of 152.4 trillion won so far. Then, the amount attracted over seven times a year is 152 trillion won, but for one year, labor costs and training costs combined will be close to 140 trillion won.

I raised doubts that this is mostly due to a lack of money. In the end, we need to find something to develop a profit model or business model through this artificial intelligence. If we cannot find that, there are doubts about the sustainability of investment in AI. However, investments will surely continue. Unless we take the top position in the AI market, doubts will persist. Everyone knows about the Winner Takes All business structure in the AI market, so investments will continue, but doubts keep arising. Just now, there is some good news. We won another gold medal. Currently, our country has won three so far. Just now, in the shooting event, athlete Park Hyo-jin won another gold medal, making it the fourth gold medal. In shooting, there are a total of two.

In Korea, we are a country known for defense industry, right? Yes, we are a country focused on defense. Based on defense, we are currently winning many gold medals from archery. Yes, the confirmation of being a country focused on defense is here at the Paris Olympics. Yes, that's great. Then, let's end here in our Pro Newsroom. Let's come back tomorrow. Thank you. Park Geun-young, Lee Sun-hyuk, Sa Kyung-in, and Yeom Seung-hwan, create healthy investment habits with the careful pair of investment masters. Check it out on the PF Membership app.

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The Impact of the Heatwave on Air Conditioning and Real Estate Subscriptions

The heatwave is causing concern about the rising cost of electricity for air conditioning.

There has been an unprecedented number of people, over 2.

5 million, trying to subscribe to real estate properties in hot areas, causing website crashes.

The real estate market is experiencing high demand, with lottery subscriptions for apartments reaching billions of won.

High-Stake Apartment Lottery in South Korea

Over 200 households are competing for 215 units of apartments, priced at 23 billion won, with a significant number of applicants.

The lottery winners are facing strict residency and property sale regulations, as well as a substantial upfront payment.

The intense competition and high potential for profit are causing a frenzy, leading to contract cancellations and a critical housing market situation.

Real Estate Market Instability and Polarization

The real estate market in South Korea is experiencing instability, with soaring property prices and intense competition.

Experts are divided on the outlook for the market, with some predicting the need for caution for potential buyers.

The market polarization is causing anxiety for many people, making it difficult for those without significant assets to participate in property investments.

WeMakePrice's Press Release and Financial Crisis

WeMakePrice has announced a press release stating their plan to mobilize resources, secure liquidity, and potentially sell the Q10 stake to address the situation.

The company is facing a significant discrepancy in the estimated damage to consumers, with their own estimate being much lower than that of the government.

In response to the crisis, they have decided to inject 560 billion Korean won of liquidity and provide loan support to sellers to help them sustain their businesses.

Financial Challenges for Sellers and Companies

Many people are struggling to repay loans while needing to borrow more due to the pandemic, creating difficulties for sellers.

A lawsuit has been filed against CEO Q10 Goo Young-bae, raising concerns about mismanagement and embezzlement.

A large-scale fire at the S factory in Ulsan has caused a significant disruption to the J2 paraxylene process, leading to potential major financial losses for the company.

The Impact of Short Settlement Periods on Seller Recruitment

Platform companies, like Team F, attract sellers by offering a short settlement period as an incentive, despite the common two-month period.

This strategy has led to the unnecessary purchase of discounted gift vouchers, causing financial harm to buyers.

The Korean Bio Association released a report on the global bio CDMO market, highlighting the competitive rankings and future growth of key companies, with a focus on Samsung Biologics potentially rising to third place by 2024.

Key Developments in the Bio Industry and Hyundai's Expansion in Indonesia

Keytruda is gaining huge global sales as it activates immune cells to fight cancer, while biosimilar companies like Samsung Bioepis are preparing to enter the market.

The bio industry is also seeing significant growth in GP1 inhibitors for obesity treatment.

Hyundai is actively expanding its presence in Indonesia, producing electric cars, batteries, and developing Advanced Air Mobility aircraft in partnership with the Korean Aerospace Research Institute.

The company's investment in a factory in Indonesia reflects the growing importance of the Indonesian market in their future plans.

The Sustainability of AI Investment in the Face of Skyrocketing Costs

Investments in AI are projected to reach 133 trillion won by 2027, raising concerns about the source of funding.

The construction of AI data centers is expected to cost 138.

2 trillion won from 2023 to 2027, with the CEO of Alphabet emphasizing the importance of over-investing.

The annual operating and labor costs for GPT alone are estimated to be almost 140 trillion won, leading to doubts about the sustainability of AI investment without a clear profit or business model.