Time now for an in-depth look at the market news 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 today.
Let's start with Wall Street. And stocks continued to climb higher on Tuesday, just a bit. The indices at new all-time highs. Investors watching Tesla shares, holding steady above a thousand dollars. What's the story in the global markets?
Korean stocks pulling back a little today. Interestingly, we've seen some selling lately by retail investors, but they were buying again today. A real mix in terms of performance in the top companies, market leader Samsung Electronics a little lower, but strength in some of the entertainment companies. Tell us about the domestic market.
Yesterday, we saw that Korea's trade volume so far this year has surpassed one trillion dollars. This is the fastest in a single year that it's ever reached that mark, and there's still two months to go. Last year, of course, we didn't reach a trillion dollars. What do you see happening in trade?
We're still dealing with an employment problem in Korea, and that's especially true for young people. Youth unemployment is high in this country compared to some others, and it's a growing social issue. What's behind the high youth unemployment, and going forward, how does it affect the economy's potential growth?
The government has introduced some new measures to try and slow down the growth in household debt. They're doing this by implementing a stricter debt service ratio for borrowers. That was in place for bigger loans, but now it'll apply to people with loans as small as 200 million won, which is about 170-thousand dollars. Tell us about this new policy.