Time now for an in-depth look at the global markets this afternoon.
And for that, I'm joined on the line by Dr. Kim Sei-wan, professor of economics at Ewha Womans University.
Professor Kim, good afternoon, thank you for coming on.
The countries of the G-20, which includes Korea, have agreed to work towards a global standard when it comes to corporate taxation that would set a minimum rate for them. Certain countries have set exceptionally low rates to attract investment, so this is one of the main reasons they're doing this. Tell us about this move by the G20, professor.
According to the minutes from the latest Fed meeting, professor, officials think the U.S. is looking at its strongest growth in 40 years, thanks in part to the Biden stimulus package, which they admit was bigger than they expected. Despite this positive outlook, Fed officials are still backing the dovish position of Chairman Powell. What do you make of these minutes from the Fed?
Stocks in New York were mixed overnight on those issues and the Biden administration's spending plans. The S&P and the Dow up slightly, tech shares on the Nasdaq a little lower. What's the story in the global markets?
Korean stocks have seen gains lately too, and that continued today, though the KOSPI was up and down. It closed above 31-41 today. The KOSDAQ with a bigger gain. Tell us about the local markets.
Samsung's chip plant in Austin, Texas was hit by the massive power outages last month from the winter storm. Operations are now getting back to normal, though. The company in the first quarter is estimating a surge in profits and revenues, and the chip sector is expected to improve in the second quarter. Tell us about that, and what you see ahead in Q2.