Real Estate Redevelopment: Changes in South Korean Cities

The real estate redevelopment in South Korea's 1st Shin Dochi areas is causing frenzy and controversy due to changing evaluation criteria, potential legal disputes, and concerns about consent rates in shopping districts.

### Current Issues in Real Estate Market, Upcoming 1st Shin Dochi Lead Zones, and Controversies
* 🏠  Today, the notices for the **1st Shin Dochi Lead Zones**, including Jumyeong, Bundang, Pyeongchon, Sambon, and Ilsan, have been posted, marking a **highly anticipated day in the real estate market**.
* 📈  The new city areas like Bundang, Ilsan, Pyeongchon, and Jundong are under the spotlight, with **Bundang being the largest in terms of area and the number of households**.
* 📝  Controversies have arisen due to the changes in evaluation criteria for the lead zones, especially in Bundang, where the total score has been **reduced to 10 points** and the evaluation now considers factors like the **average age of the main residential area** and the **PC construction structure**.
* 🏗️  There is a discussion about the use of the PC construction method, which is being **incentivized through a special law** this time.
* 🏘️  In Bundang, the agreement rate calculation criteria for the competition application area has also been slightly changed, **excluding the agreement rate for commercial areas**.
* 🛍️  Concerns are raised about the **difficulty of obtaining consent** from the commercial areas in Bundang, as they are not included in the **evaluation criteria** for the resident agreement in the lead zone.
* ⚖️  Legal disputes are expected to arise as the reconstruction process progresses, depending on whether the **superior or inferior law** under the Urban Renewal Act is applied.

Hello, this is the overwhelming news content 3% Newsroom. Hello, I'm Reporter Lee Joo-ho. Hello, I'm Reporter Ryu Jong-hoon. Save me, it's a 3 prime situation. Oh, save me. It might look like that, right? We were shaking carrots. That's right. So, today's news is ready. The first news is about our reporter Ryu Jong-hoon. Real estate is really...wow. Even the junior reporters were surprised at how well Reporter Ryu Jong-hoon knows about real estate. They asked me if they should buy a car, buy a senior's house, or not. Since I'm not a complete expert, I was just lucky. That's how it was. So, today, the first news about real estate is ready. Today is a highly anticipated day in the real estate market. Today, today, in fact, 625... Well, 625 was previously.

Although it was a heartbreaking experience, now, today, in the real estate redevelopment market, whether this will be another heartbreaking experience or the first day of congratulations is a matter of great interest. What is the story? Starting from today, each local government has announced the public offering for the 1st Shin Dochi Lead Zone. Today, the notices have been posted for Jumyeong Shin Dochi, Bundang Shin Dochi, Pyeongchon Shin Dochi, Sambon Shin Dochi, and Ilsan Shin Dochi. Each of these five areas will be selected as the lead zone for Shin Dochi. The notices for applications are being posted quickly. Most of you may already know the contents, which are about selecting a total of 26,000 to a maximum of 39,000 households for redevelopment in the five 1st Shin Dochi areas, and leading the redevelopment proactively. Also, a special law will be enacted.

Exempting safety diagnostics or providing various benefits by increasing the floor area ratio was a key situation in Seondo District. Now, let's briefly look at which areas are currently included in the new city. There are Bundang, Ilsan, Pyeongchon, and Jundong. Please show the table. If you look at it, currently, Ilsan has the lowest average floor area ratio at 169%. And in terms of area or the number of households, Bundang is the largest. On the other hand, in the case of Bucheon Jundong New City, the floor area ratio is high, so there are concerns about its profitability. Although there are discussions about medical facilities, overall, the floor area ratio is around 200%. In fact, if it is implemented without any special measures, profitability will significantly decrease. Therefore, a special law is being enacted to reduce incentives.

If we look at the process in terms of procedure, the announcement was made in May a while ago, and now today, the local government officials have started their duties. After receiving these duties today, it is expected to proceed in earnest from September. So, with the announcement today, there has been a bit of a frenzy in various areas such as Bundang New Town and Ilsan New Town. What kind of frenzy is it? Some say that the evaluation criteria seem to have changed a bit. Yes, indeed. If I briefly mention the evaluation criteria, in places like Jung-dong, Ilsan, and Pyeongchon, which are the three locations, the resident approval rate used to have the highest score. Originally, it was over 90% for 60 points, but here you can see that it is now over 95% for 60 points. And if you look at the bottom right, Jung-dong New Town has a score of 70 points.

Each municipality now has slightly different scoring criteria. For example, in the case of the need for activating urban functions, since it is a qualitative evaluation, just by applying, they will automatically receive a score of 10 points to start. Currently, the most controversial issue is in Bundang. In Bundang, the scoring criteria itself have changed significantly compared to the previous version, with the total score now being 10 points instead of 100 points. Additionally, in terms of the environmental aspects, while other regions used to evaluate based on parking lots, here they consider both parking lots and firefighting inconvenience.

And also, please check the average age of the main residential area, whether there is an elevator or not, whether it is a corridor-type apartment or a stair-type apartment. Furthermore, if it is a PC construction structure, additional points will be given. PC construction refers to a method where a large number of apartments need to be supplied quickly at once, like the case of the first-generation new towns that needed rapid supply of apartments at that time. Therefore, the method of prefabricating concrete and assembling it was used, which had the advantage of being able to supply housing quickly. However, there were some disadvantages in terms of stability and inter-floor noise. In response to these issues, additional points were given to emphasize the urgency. In the case of Bundang, the evaluation criteria have changed a bit.

Meanwhile, now, in each region, do we need to pay attention to the PC method again because of the special law this time, which we didn't need to care about before? There is a discussion about this. Another controversial issue now is that in the case of Bundang, the calculation criteria for the agreement rate in the competition application area has changed slightly. As I mentioned earlier, the agreement rate is now scored out of 60 points, which is the largest item. Therefore, in each area and apartment complex, through pre-agreement voting, please raise our agreement. It's chaotic right now. In this situation, if you look at the same calculation criteria here, the third circle is important. The agreement rate for commercial areas is stated as not included in the evaluation criteria for the resident agreement in the leading zone. What does this mean? It means that whether it's our Umma apartment or the Hyundai apartment.

When you look at places like the front-line Hanyang, people in the apartment complex still get along well with each other. The consensus is quite high. However, people in the shopping district are not very cooperative. This is because they cannot do business during that period, so they often demand more compensation that they can receive. Consequently, in the process of reconstructing apartments like Eumma, one of the significant obstacles is the shopping district. Since there are many large complexes like yours, there are many apartment complexes with shopping areas. Therefore, it may not be easy to get consent from people in the shopping area. In Bundang this time, when selecting the first new city center, concerns arise that it will be difficult to obtain consent from the people in the shopping district.

I will not include it in the decision, so from the residents' perspective, it can be good that the reconstruction can proceed faster. However, those who were doing business there might oppose it a lot. Currently, even if they oppose it, there is no way to stop it. But now, in terms of being selected as a leading area, it may not be a problem at all. However, if the reconstruction process proceeds in earnest, then inevitably, there is a high possibility that legal disputes may arise, whether it is the superior or inferior law under the Urban Renewal Act. With this agreement, one area is currently in chaos. Where is it? It's in Yangji Village in the Bundang area. I would like to point out one thing. Yangji Village is a very large complex with about 4 to 5 generations living there.

In conducting the process, currently, the consent rate is about 85%, so some say it will work here, but others say it won't work, pointing out that there are many stores in the opposing side. If you look in the middle here, there are stores. Now, if you look here, it's Geummo Happy Market. Here is a shopping district. I'm not sure what it is, but this is also a shopping district, and here is where Shinhan Bank is, also a shopping district. So, there are many stores. Many opinions were expressed that it wouldn't be easy because of the stores here. However, today, excluding the stores, it is said that it will proceed without the city's involvement, and Yangji Village is now celebrating. But if we proceed without the stores, the apartments in this area will undergo reconstruction, both sides will undergo reconstruction. But, will only the alley not undergo reconstruction, or will everything be reconstructed? How will that work?

No, it's not. Right now, the areas I have marked in red will all be included in the redevelopment zone. Oh, so those in the shopping district opposed it, but it turns out my building will be demolished. And these people do not have the right to vote on whether they agree with the Seondo District this time. That's why now, in the Yangji Village area, it's not about associations but submissions. Here, we are now hearing stories that the possibility of success is very high. Also, I talked a bit about the new city on the Kwon Channel a while ago, but in the meantime, there have been tremendous changes in just a month. It's chaotic and crazy. Bundang is currently the largest area, and from the perspective of shared costs, there have been many discussions about how it will be highly profitable. Well, let me show you.

Now, what I'm going to give you is the area near Seongnam Station, the beautiful village of Punglim Seonggyeong Hyosung. Here, it was called Pungbal Hyo, but now it's just shortened to Pungbal. But here, if you look at Hyosung, the view is really nice, especially the view facing Han River. But there was a bit of a dispute over the land rights on this side, a bit of a conflict. Among them, it was cut off, and only Seonggyeong proceeded with the development, and Hyosung ended up going separately. If you look at the agreement between them, it seems like Hyosung talked a lot about their rights. And another thing is that this time, the scale that was mentioned as the maximum was about 7,000 households, but now there is a village of about 10,000 households. In the case of 10 villages, there are now five, including Samsung Hanshin Village, Han Young Village, and Hyundai Village.

The area that was progressing together has now split into two. Samsung Hansin 10 districts, Hanyang is now district 1, and now district Munsung 10 districts. Hyundai is maintaining the existing name, called 10 districts, and proceeding separately. However, anyway, this time, in the case of 1st Shin-do City Leading Zone, it seems like the competition will really start now. Among various stories, one of the things that comes up is that Seongnam City is showing movement at the municipal level through a trust company to proceed quickly. From the perspective of Gasan Station, it seems that if we proceed with a trust company, there are talks about giving more points at Gasan Station. Therefore, in various areas such as the pilot district, there are contacts with trust companies in progress. Will there be redeveloped metropolitan areas through trust company progress in the metropolitan area? Have you heard any stories from the metropolitan area?

Isn't it the same in the capital area? There isn't a single one. It's been about 7 years since redevelopment using trusts was allowed, about 7 to 8 years. Yes, but now, nationwide, actually, it's only happening in one place in Daejeon. Now, in Seoul, for example, in places like Yeouido or Mok-dong, there are many places trying to proceed with trusts, but it's not going well. Therefore, the good thing about proceeding with trusts now is that, in any case, funding circulation is a bit smoother, and from the perspective of interest rates, there is a bit of an advantage in using the credit of the trust company. Also, when it comes to dealing with construction companies, in a way, with trusts, there are professional groups, so you can exert a bit of organizational power against construction companies. Many talk about this advantage. However, the downside is that there are no associations.

It is said that everything is being pulled into the trust company, and in terms of construction costs, it seems that now the construction company is the one sharing more information. Also, in terms of legal procedures, it is not progressing smoothly in administrative procedures, causing various problems. Even in the Yeouido area, Hanyang Apartments are facing such issues. With various incidents like this, there are many discussions within the Bundang area about whether it is right or not to proceed with the trust company. Moreover, there are concerns about potential legal disputes related to the consent rate voting in the future. Apart from this, there are even bigger issues that will arise after the progress, especially in terms of construction costs. Construction costs have more than doubled compared to two to three years ago.

When it comes to a consortium, it is actually a relationship of a consortium and a construction company, so ultimately, it's about whether to continue the contract while paying a little more for the construction cost. This is the negotiation process. When it comes to a trust company, the trust company just decides. It is true that the trust company can say that they can bring us in cheaply. However, it is said that it doesn't work as well as expected. In fact, when the construction company says no, from then on, it becomes a situation where we have no choice but to accept. When the trust company talks with the consortium, until the contract is signed, the consortium has the upper hand. However, the moment the contract is signed, it becomes the other way around. We say that we will support you in that aspect, but it is said that it didn't work well. If many constructions are done in the metropolitan area, there would have been cooperation with the trust company, but it is said that it didn't work well.

Another thing is, now, regarding the floor area ratio, some discussions are starting to emerge. They said they would give a lot of incentives for the floor area ratio, but instead of giving a lot, they are suggesting that we should donate a lot. So, if we raise the floor area ratio a lot like this and encourage a lot of donations, wouldn't it be better not to do it? If we keep donating, won't the floor area ratio decrease? It will significantly decrease in business terms. If that happens, people will start talking about it, so I think from now on, interesting things will happen a lot in Ilsan New City. I believe we should approach redevelopment and reconstruction issues in the long run, right? We will continue to keep an eye on it in the future, and our reporter Ryoo Jong-hoon knows this field very well, so from a reporting perspective.

I think you have thoughts on how you can try something yourself, and you have some personal motives, but you don't have money. It's just a joke. Now, let's take a look at the news. This time, I'm going to talk a bit about foldable phones. This year, especially Samsung Electronics' foldable phones were originally planned to be unveiled around autumn. However, this year, they are planning to release them about a month earlier. Let's see what's in store for the holidays. First of all, today's news was about Huawei. They are planning to release a low-cost flip model targeting the younger generation in China this summer, and they are expected to make a mark in the Chinese foldable phone market. Chinese media reported that Huawei will announce the first Nova series flip foldable smartphone in early August this year, citing internal sources from Huawei.

I reported. In fact, Huawei now has a foldable phone, but there are flip types. We have foldable and flip types. Now, the flip type, like our Samsung Flip, gained a lot of popularity in the market, and there is news that Huawei is entering the market now. However, the Nova series is not in the same market at all because Huawei's low-cost brand is the Nova brand. So, if a flip-type smartphone is released under the Nova brand, the price range would be around 400,000 to 600,000 won or even higher, looking at the Ultra series, the price difference with the Flip is significantly large, almost double, or even more. However, what I want to say is, if Huawei's foldable phone is a global foldable phone.

I turned the tables on Samsung in the market. Let me show you on the screen the market share of Samsung Electronics' global foldable smartphone in the last quarter. The blue line you see on the screen represents Samsung Electronics' market share, which dropped by 23% in the last quarter. On the other hand, the red line represents Huawei's foldable phone. The market share of Huawei's foldable phone, not in China but globally, reached 30.15%. Of course, since China has a high population ratio, the global market share is calculated to be high. The first reason is this, and the second reason is that Samsung Electronics originally releases foldable phones in the third quarter, so it is quite natural that the shipment volume decreases in the first and second quarters just before the release of new products in the third quarter. However, despite this, the Huawei foldable 4 is actually experiencing a patriotic consumption trend within China.

It's gaining popularity, right? But not only in China, now in the Chinese market, there are Chinese iPhones, or Motorola foldable phones, and these are actually posing a threat to Samsung's foldable phones. As a result, Samsung Electronics, which has never been surpassed in the first quarter, saw a significant drop of almost 23%. Samsung Electronics is also looking at this with a considerable sense of threat. In the midst of this, TrendForce has also put forth a forecast that Samsung Electronics' foldable phones may experience negative growth this year. Last year, Samsung Electronics sold 1.06 million foldable phones, but this year, it is forecasted that it could drop to as low as 8.97 million units if things go wrong. So, ultimately, Samsung Electronics may see a decline in its global market share of foldable phones.

There are forecasts being made here and there that China could be reversed, so now Samsung Electronics was originally expected to release in the third quarter. So, usually they release in the third quarter, but this year, isn't there the Paris Olympics in the summer? Before the Paris Olympics, they plan to release a foldable phone, and then do strong marketing during the Olympics, aiming for a turnaround opportunity. Samsung Electronics is setting up a strategy like this. Samsung Electronics might feel a bit of a crisis in the foldable phone market just by moving up the release schedule by a month. Also, according to market research firms, Huawei gained strength in the Chinese foldable phone market last year with the popularity of the Mate X5, recording the top spot with 37.4% share. In the end, China.

In the market, due to the patriotic trend towards China, domestic companies are somewhat moving away. Globally, because our country's flagship phones are so expensive, they are gradually losing ground in terms of low-cost phones or foldable phones. So, this year, through Paris Olympics marketing, can we really turn the tide? Yes, indeed. The Olympics are a major marketing event, but considering the current political situation in France, especially in Paris, it's also a point to watch. They said they would host the Olympics in the Seine River, and on the day you swim, we will defecate. Oh, really, that campaign is ongoing in the U.S. and France. Also, now the parliament has dissolved, and an early general election will be held on June 30, followed by the final vote.

On July 7th, the political uncertainty is significantly increasing, so it's quite challenging. From France's perspective, it seems they will continue to be upset. Nowadays, due to the poor economic situation, they probably aimed for a rebound through the Olympics. That's right. Let's take a look at the next one. Now, there is another gloomy city in France, which is Busan. Busan, why? Because Busan failed at the Expo last year. This year, they have been ambitiously preparing again. What Busan failed at, well, they didn't really fail, right? That's right. It's not that Busan failed, but it's sad, isn't it? It's kind of sad. This year, what is Busan preparing for? It's the Global Mobility Show in Busan. Originally, it was an international event.

The motor show, which had been held every other year under the name of a motor show, will now be held under the name of Busan Mobility Show starting from this year. From today, the Busan Mobility Show, where seven domestic and foreign car brands and a total of 59 vehicles will be exhibited, will be held. It has been mentioned that the common theme for this event is to be the center of the next mobility world, focusing a lot on eco-friendly stories. However, as I looked into it a bit, in reality, only three car groups are participating. That's right. How is it possible? Let me point it out a bit. If you look at the exhibition hall layout, you will see Hyundai and Kia at both ends, and Genesis in the center. These are three brands, but actually one company, one company. And BMW.

There are two brands, but they are both part of the BMW Group. One is now called Renault Korea, and it is also in front of Kia. This is the current situation where three completed car groups are emerging. In the past, SsangYong, which has now changed its name to KGR, and brands like GM Cadillac from Korea GM used to come out. Various import car companies like Benz and Audi used to come out a lot. It was truly an international global motor show. However, at some point, the participating companies started decreasing. This year, it is expected to be held on the smallest scale ever. Therefore, there are concerns about the success in Busan and the effects on the participating group companies in terms of business.

I'm quite worried that the impact won't be significant. Another concern is that as these kinds of discussions are increasing, most countries around the world host only one auto show per continent or country. However, there are many criticisms about whether it is appropriate to divide it between Seoul and Busan in a small country like ours. In fact, if you look at it now, there are only a few countries like South Korea and China that alternate between cities every other year to host a motor show. In the case of China, they hold it in Beijing in even-numbered years and in Shanghai in odd-numbered years. In our case, we host it in Seoul in odd-numbered years and in Busan in even-numbered years. Initially, it was fine when we first started, but now there are many concerns as it has become quite weakened. The status has decreased significantly, and the scale itself has shrunk, so there are many worries. However, there will be things to consider because now it's global.

Now, at the World Premiere Lounge, there is the Kia Tasman pickup truck that will be unveiled for the first time. Below, you can see the Genesis. The Genesis Neo is a concept for the upcoming GV90 electric car. Next to it, there is the Genesis X Gran Race Concept, which is one of the most futuristic concept cars Genesis has ever presented, resembling a futuristic racing car that you would see in a video game. The concept car for this race car will be shown this time. As for Hyundai, they will be revealing the Casper Electric, their first electric car for urban mobility. Renault will also make a strong appearance. Among many struggling companies nowadays, Renault Korea is one of them.

The factory is located in Busan, so it is a Busan-based company. This time, they are planning to reveal the concept car of Aurora 1, which can be considered the most important vehicle in Renault's rebranding strategy. Currently, at the top is the Renault Aurora Project DSV. If you ask what kind of car it is, it is a midsize SUV like the Santa Fe or Sorento. Among the midsize SUVs, there was no D-segment SUV before, now there is the QM 6. The Q 6 existed before, but it was a bit small. Therefore, this model is coming out, and it will be a hybrid. So, they are putting a lot of effort into this now. Just like BMW, they are planning to showcase various vehicles like the Neue Klasse. You have to see the cars to really appreciate them because the photos don't do justice. If you take a look at the top, you will see the Neoru, which is the car I mentioned. Does it really come out like this? When it comes to concept cars, they come out exactly like that.

Here comes. Of course, the mass-produced cars now, it's not a coach anymore, it's a filler that's blocked. But now, in the case of this car, like BMW X7 or Mercedes-Benz GLS, it competes with large luxury SUVs. Also, this car is a pure electric vehicle. Currently, Hyundai is using the EGMP electric vehicle platform, and there is a next-generation platform called the 2nd platform. The first vehicle on this 2nd platform will be the Genesis GV90, and there is a concept car for that vehicle. If you look to the side, there is a white car, which is the Renault Aurora. This is a car that someone who is good at predicting future trends, a car designer, has anticipated. I got this information from that person's blog, and below that, there is the Leon, and what is that navy blue car?

When Leo closes that door, it looks like it might come out in the game I briefly mentioned earlier. That car, that's right, that's the Gran Turismo, what's that vehicle. You can actually see that vehicle this time, so if you go and see it, it might be a bit fun. Personally, I think it would be quite interesting if people in the area could go and see the actual situation of the companies once and it would be fun to go there. Actually, I'm quite worried, but at the same time, I hope it will be somewhat successful. In fact, these days, we often talk about wanting the local economy to be more active, but since we don't have an answer, we can't provide solutions. We also talk about the global motors story in Gwangju and the Renault car factory in Busan. These are the things that these factories need to be activated, and that way, in that region.

Living people's economic conditions are improving a bit, and self-employed people are also getting better together. Of course, it's not always ideal, but in the end, isn't it a way to revitalize the local economy a bit? So, I will continue to talk about the local economy. There is something really important. Many, what should I say, I will go. Oh, I will go to cover a story, so when I come back, if many people cannot come, actually, those people, after I directly cover the story and come back, I will convey the details about them more vividly and naturally. If you want to see Reporter Ryu Jong-hoon, when are you going to the Busan Motor Show? Are you all going? I will go tomorrow, so it's on Friday. Understood. Go see Reporter Ryu Jong-hoon. Let's move on to the next news. These days, the sea freight rates to the United States are soaring.

Even in the market, the form of stock prices is somewhat reflected. So, we analyzed the cause at KOTRA. The cause may seem obvious, but I would like to share KOTRA's analysis with you. The reason we are sharing this analysis is to see if the high freight rates will continue in the future when we assume this cause. KOTRA has reported that freight rates from Asia to the US North American West Coast are continuously surging. They have pointed out three main reasons: first, the incident in the Suez Canal, which is very famous; second, the container shortage incident, which I will explain shortly; and third, the increase in Chinese tariffs.

Ahead, I mentioned three main reasons why the volume of imports from China is increasing significantly. The first one is the Honghai incident, as you all know. Currently, due to the frequent pirate activities of the Houthi rebels on the major maritime routes of Europe and Asia, many ships are rerouting through the Cape of Good Hope in Africa. Consequently, the transportation time and costs are increasing, along with the insurance rates due to the high risks. This is just as you all already know. However, because of this, it is said that there is a shortage of logistics containers. What does this mean? During the Honghai incident, many ships are circling around. But as they circle, when they choose this detour, they need to maintain punctuality. Container ships need to maintain their schedules.

To keep the port secure, containers need to be collected and returned at each dock, but due to time constraints, the number of collected containers is quite low. The port authorities say that containers are being returned at a much slower pace, causing the actual container prices to rise. Showing the screen together, we are displaying that the prices of Chinese containers are increasing. We have heard a lot about the logistics freight rates for container ships increasing, but the fact that the container prices themselves are rising due to the inability to secure those square containers is a very unfamiliar story to me. I saw it for the first time in this report, so I'm sharing it now. Also, looking at the timing of the price increase, it hasn't been that long, from November last year.

Now, starting to rise, it began to soar from April to May recently. Oh, right now, the containers are not being returned, so the retrieval is not happening, so the container prices are rising. But it's not important that the container prices are rising. The crucial point is that even though there are ships to carry the goods, there is a huge bottleneck in the lack of containers. Furthermore, another point to mention is the public tariffs. Currently, the public tariffs are being raised, right? And in May, President Biden also announced very strong public tariffs, especially for Chinese electric car batteries, semiconductors, and so on, with an increase in tariffs. For battery parts, 255%, 100% for electric cars, and 50% for semiconductors. Due to these public tariffs, when they actually take effect in August, then Chinese products will be...

The demand for imports seems to be increasing rapidly, so the logistics prices are rising sharply. However, after August, when the tariffs take effect, there may be a decrease in demand. Looking ahead, considering the upcoming November presidential election in the United States, whether President Trump will be re-elected or Biden will succeed is uncertain. If President Trump is re-elected, there is a high possibility of more stringent tariffs. Therefore, it is necessary to think more about whether import demand will decrease ahead of this tariff war. So, you should consider the possibility that ocean freight rates may remain high for a considerable period.

Because the container shortage has not yet been resolved, maritime freight rates may remain high for a considerable period. You mentioned that if the freight rates increase, the U.S. inflation will rise as well, and the interest rate is a concern. Therefore, the U.S. continues to release emergency oil reserves to lower oil prices, offset the rising import prices with lower oil prices, and mitigate the impact. The U.S. is continuously taking such actions. The term buffer oil did not come to mind for a moment. Next, many people are still talking about U.S. stocks. It is reported that the financial investment balance for U.S. stocks has reached an all-time high. The Bank of Korea has just released information on the 2023 regional currency-specific international investment.

According to the provisional balance sheet, as of the end of last year, the balance of South Korea's external financial assets, excluding reserve assets, amounted to $1.916 trillion, an increase of $124.4 billion compared to the previous year. It would be nice to show you a table. If I can show you the table, I can explain it quickly. In the case of the United States, it increased by $13.8 billion compared to the previous year, reaching $846 billion. Many people are currently investing in companies like NVIDIA, Tesla, Apple, and Microsoft, so the total amount of their investments has now exceeded $800 billion. It can be said that gaming has a significant impact. On the other hand, in China, the balance decreased by $9.1 billion from $195.2 billion at the end of last year to $153 billion at the end of 2022. Financial asset investments in China are decreasing significantly.

It can be seen as a situation that is clearly emerging now, and even the reasons have increased significantly from the previous year to $252.8 billion. As a result, it can be said that overseas investment is now being actively carried out. According to Park Sung-kun, the head of the Investment Statistics Team at the Bank of Korea, the financial assets in the U.S. surpassed $400 billion in 2019, reaching $600 billion in 2021, and finally exceeded $800 billion last year for the first time. As a result, the proportion of financial assets, with securities investments at the forefront, has steadily increased, and not only did the U.S. stock prices rise relatively high, but also investments in overseas factories of major Korean companies like Samsung Electronics increased due to factors such as ira. Not only Samsung Electronics, but also LG, SK, Hyundai Motor, and other automobile companies are continuing to invest.

They are building a factory on-site. If you consider that big, that's right. Okay, wow, the world is really changing. It's changing. Even if we only invest in China, it seems like everyone was saying we couldn't survive without investing in China. In the end, things change like this again. It seems like we are approaching another turning point in the world. I want to share one thing. This is quite an interesting news. I will share a news with you. Please, the last headline, PD. At the Korea Consumer Agency, they compared the performance of domestic alkaline batteries. They said there was an 8.6 times difference in performance between the worst and the best ones. I somehow have a feeling about it. Right, I don't know the brands, but the performance.

I felt the difference, right? Oh, that's right. So, what you felt was the best thing, the worst thing you felt was the worst thing, the worst thing, what was it? There are batteries sold in Coupang, right? Oh, that's right. It wasn't that, though. Let me show you once. First of all, this is the battery from Daiso, which has a high consumer preference in Korea. It's a Neosell alkaline battery. And Duracell, Duracell is used a lot. Coupang's private brand products don't use it that much, so they probably didn't make it to the list. Oh, you know Neosell well, right? Oh, that's right. And Duracell's Deluxe Cell, Premium Back Cell, and Energizer's alkaline, alkaline max, we compared these, but since they all have different prices and so on, we ordered them based on some criteria. So, if you look at the prices now,

It's like 250 won, almost 19981. So, instead of doing that, let's compare the duration per 100 won. The model with the shortest duration per 100 won was the Duracell Ultra. Duracell Ultra had the shortest duration. So, what was the best battery compared to Duracell Ultra? Well, the battery that was almost 8.6 times better than Duracell Ultra was, you know, Duracell batteries are expensive, right? They are quite expensive. I just thought they were expensive, so I bought them at a high price. Today, I heard news that made me feel betrayed because Duracell was not the best, and there is a model that is 8.6 times better than Duracell. What is that model? Show it to us. Show us the screen. That's right, it's Daiso's Neo Cell. Oh, that's the cheapest one, they say. This one had the best performance. It's the best in terms of performance for 100 won.

When we set the benchmark, the best performing one was Neosell. So, when you look at the price, currently it's 250 won per piece, and if you buy four pieces, it's 1,000 won, 250 won each. If you buy around 10 pieces, it drops to 200 won. On the other hand, for Ultra Duracell, it's 2,275 won per piece. If you buy in bulk, when you buy several pieces, it's 1,300 won. It does drop in price, but it's still expensive. Oh, it's expensive. However, compared to expensive ones, the performance is the worst. When you see this, it's not about the performance per piece, but the performance relative to the price. The performance relative to the price. However, actually, Daiso doesn't make batteries, right? That's right. So, where do they come from? They come from China. They import batteries made by Ningbo Battery and Electronic Appliances Company in China. Now, Daiso sells them, of course, they are products certified by KC.

There is no issue with safety, but in the end, it turns out that Daiso had the best performance for the price because it had Chinese batteries. So, why did I mention Coupang? It's because I put those PB batteries that I bought from Coupang into my mouse. They don't last a month because I keep using them. That's why I mentioned it. Okay, then let's conclude today's 3% Newsroom here. We will come back tomorrow. Thank you. Thank you. Park Geun-young, Lee Sun-hyuk, Sa Kyung-in, and Yeom Seung-hwan. Create healthy investment habits with the careful care of the investment masters. Check it out on the 3% Membership app.

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New Developments in Real Estate Redevelopment

Local governments have announced the public offering for the 1st Shin Dochi Lead Zone, with 26,000 to 39,000 households to be redeveloped in five areas.

The floor area ratio and scoring criteria for redevelopment have changed, causing controversy, especially in Bundang.

A special law is being enacted to reduce incentives for areas with high profitability, with the process expected to proceed from September.

Changes in Urban Development Agreements in Bundang

The calculation criteria for agreement rates in Bundang's competition application area has changed, causing chaos and controversy.

The reconstruction process in Yangji Village is facing opposition from the shopping district, leading to potential legal disputes.

The urban development agreements in Punglim Seonggyeong Hyosung are also causing conflicts due to a dispute over land rights and the larger scale of the village.

Splitting of Districts and the Rise of Trust Company Progress

Samsung's Hansin district has split into Hanyang district 1 and Munsung district 10, while Hyundai is proceeding separately.

There is a growing competition in the 1st Shin-do City Leading Zone, with Seongnam City showing movement at the municipal level through a trust company.

Trust company progress for redevelopment in the metropolitan area is facing challenges, including legal disputes, increased construction costs, and difficulties in negotiations with construction companies.

Meanwhile, in the midst of district discussions, Samsung Electronics is planning to release its foldable phones a month earlier than expected, with Huawei also entering the foldable phone market.

Huawei's Impact on the Global Foldable Phone Market

Huawei is entering the flip phone market, potentially offering a lower-cost alternative through its Nova brand.

The company's foldable phone is gaining significant global market share, posing a threat to Samsung, which is projected to experience a decline in its foldable phone sales.

In an attempt to counter Huawei's growth, Samsung is adjusting its release schedule and focusing on the Paris Olympics for marketing.

Rebranding of the Busan Motor Show to Busan Mobility Show

The Busan Motor Show has been rebranded as the Busan Mobility Show, with a focus on eco-friendly mobility.

However, the event is now on a much smaller scale, raising concerns about its success and impact on participating companies.

Despite the challenges, the show will feature the unveiling of various new vehicles, including electric cars and concept cars from Hyundai, Genesis, and Renault.

The Impact of Soaring Sea Freight Rates on Global Trade

Sea freight rates to the US are sharply increasing, impacting stock prices and trade.

The surge is attributed to the Suez Canal incident, a shortage of containers, and rising Chinese tariffs, leading to longer transportation times and increased costs.

The inability to secure enough containers is driving up their prices, further exacerbating the situation since November last year.

The Impact of Global Events on Maritime Freight and International Investments

Container prices are rising due to a lack of container returns, causing a bottleneck in global shipping.

Public tariffs, especially on Chinese goods like electric car batteries and semiconductors, are set to increase, leading to a rapid rise in import demand and logistics prices.

The high uncertainty surrounding the upcoming US presidential election is also contributing to the potential for more stringent tariffs, which could prolong the period of high maritime freight rates.

As a result of these global events, the US stock market is experiencing an all-time high in financial investments, while China is seeing a significant decrease in financial asset investments.

The Impact of Different Alkaline Batteries on Performance and Price

A study by the Korea Consumer Agency revealed an 8.

6 times difference in performance between the best and worst alkaline batteries.

The cheapest battery, Daiso's Neo Cell, outperformed the expensive Duracell Ultra, providing the best performance for the price.

The Daiso batteries, made by a Chinese company, showed that price does not always reflect quality and performance.