Time now for an in-depth look at the market news this afternoon.
And for that, I'm joined on the line by Dr. Yang Jun-sok, Professor of Economics at Ewha Womans University.
Professor Yang, good to have you back on.
Stocks in New York closed Friday with a nice gain for the week on hopes for the economic recovery and corporate earnings. It was the fourth weekly gain in a row for the S&P. What's the story in the global markets?
Today, Korea's main index, the KOSPI, broke through 32-hundred points, but closing just a point shy of that mark. Another gain on the KOSDAQ, though, holding at above a thousand points. What's happening in the domestic markets, and what do you see ahead this week?
Korea is coming up against an interesting regulatory question, professor, when it comes to big business. Later this month, the Fair Trade Commission will update its list of companies that fall under rules meant to prevent abuses by the biggest companies, the powerful family-run chaebol. But interestingly, innovative companies like the retail giant Coupang, which is definitely not a chaebol, could find themselves subject to these rules because they've grown so fast. They are arguably not the target of these rules, and the concern is could hinder their growth. Tell us about the situation, professor, and what you make of it.
A report from the Korea Economic Research Institute suggests that last year around 72-thousand manufacturing jobs in Korea were moved overseas. And had they stayed here, that would have boosted the employment rate by about three tenths of a percent. Tell us about that, and what might be done to attract the kind of investment that would keep jobs in the country.