Professor Kim Young-ik and former Financial Services Commission Chairman Jeon Kwang-woo strongly recommend
From stocks, real estate, finance, industry, to the US economy.
Essential Economic Knowledge You Must Know if You Want to Become Rich

Economics is abstract and vague, but money is concrete and intuitive.
The reason we watch the news and read the newspapers is ultimately because of money.
We don't need to know all the global economic issues that are pouring in.
If only I could find out just the right amount of information that I could immediately apply to my finances, the world would be a much better place.
This book aims to address these needs by providing a 'minimum level of economic study'.
This book is written in an easy-to-understand manner so that anyone can intuitively understand the flow of the economy, based on economic knowledge and information directly acquired by the author, who has been working in the field for 15 years as an economic journalist.
Once you understand how the economy works, the rest is simply a matter of application and implementation.
When we face economic issues that don't seem intuitive, let's acquire 100% usable, appropriate economic knowledge with this one book.
It will be your first introductory economics book, tailored to your level.

In fact, if we go into detail, the work that central banks do is more extensive and complex.
One of the important roles of a central bank like the Bank of Korea is to determine how much money is in circulation (controlling the money supply).
In the case of the Bank of Korea, to control the money supply, it purchases government bonds (increases the money supply) and sells them (decreases the money supply).
Increasing lending to commercial banks also leads to an increase in the money supply.
As the money supply increases, the value of the currency falls.
When there is a lot of money in circulation, the value of money, or interest rates, decreases according to the law of supply and demand.
When market interest rates fall, it means that the value of money is falling.
As the value of money falls, the number of people taking out loans increases.
Also, since the value of the same 100 won has fallen, the amount of goods that can be purchased has decreased, and we feel that prices have risen.
---From "Central Banks are Inflation Fighters"

When it comes to getting a mortgage, nothing is more important than the interest rate.
This is because it is a loan that must be repaid over a period of up to 50 years (maturity of 50 years).
Even for loans that last 1-2 years, interest rates are important, so it goes without saying that it is even more important for home equity loans.
Just like credit loans, the interest rate for home equity loans is calculated using the system of ‘base rate + additional rate - preferential rate.’
The COFIX interest rate or financial bond interest rate is often used as the base interest rate, and the additional interest rate is different for each borrower, and is calculated by the bank by considering the borrower's default risk, loan type, margin, etc.
The most commonly used benchmark interest rate these days is the Copix rate.
We don't need to know the formula for calculating the Copix interest rate.
The really important part is knowing whether the Copix interest rate calculated according to the formula is high or low compared to financial bonds or other interest rates, and whether it will rise or fall in the future.
There are four types of Copix: Copix based on new handling amount, Copix based on balance, Copix based on new balance, and Copix based on short-term.
Since the new handling amount standard and the balance standard are used in almost all cases, it is sufficient to know only these two.
The new handling amount-based Copix is ​​more sensitive to market interest rate fluctuations than the balance-based Copix.
The balance criteria is a bit slow to work.
Therefore, if the interest rate is rising, the balance standard rises more slowly, and if the interest rate is falling, the balance standard falls more slowly.
---From "The Base Rate for Housing Mortgage Loans, 'COFIX'"

A bank run is cited as the decisive reason why Silicon Valley Bank (SVB) in the United States went bankrupt just 36 hours after rumors of a crisis emerged in early March 2023.
A bank run is a situation where customers who have deposited money in a bank suddenly withdraw large amounts of money in an instant.
In the past, the word 'run' was used because people had to run to the bank and wait in long lines to withdraw money.
The reason bank runs occur is because if a bank fails, you may not be able to get your deposited money back.
Although each country has its own deposit protection system, in the case of SVB, more than 90% of customers had deposited funds exceeding the deposit protection limit of $250,000, so rumors of a crisis arose and a bank run occurred in just one day with $42 billion (55 trillion won) of deposits being withdrawn.
SVB's losses snowballed as it sold off its US Treasury bonds at a low price to pay out deposits to customers, and when it was no longer able to pay out deposits, it eventually went bankrupt.
The company went bankrupt at lightning speed just 36 hours after the crisis rumors were announced.
---From "Bank Run"

Stock prices move according to many variables, but none are as important as supply and demand.
The same goes for KOSPI.
KOSPI and KOSPI-listed stocks basically rise and fall according to demand (buyers) and supply (sellers).
In particular, the key to supply and demand are foreigners.
Foreigners mostly refer to foreign institutional investors, and they have a significant influence on stock prices, holding more than 30% of the KOSPI market capitalization.
Individual investors are like grains of sand, and their information is different, making it difficult to predict their buying and selling patterns. However, foreign investors have a similar level of limited information and react sensitively to exchange rate variables, showing a characteristic of moving in a relatively coordinated manner.
---From "Our country's stock market at a glance"

A PBR of 1x means that the market capitalization is equal to the value of all assets sold by the company.
If the company goes bankrupt and goes into liquidation, and the PBR is 1, shareholders are likely to recover almost all of their investment.
Therefore, if the PBR is greater than 1, it can be seen as an overvalued situation because the market capitalization is greater than the net assets, while if the PBR is less than 1, it can be seen as an undervalued situation.
Of course, the PBR 1x standard also varies by industry and stock.
For example, many people believe that when SK Hynix's stock price falls below PBR 1, it is a good time to buy.
This is because historically, there have been many cases where a rebound occurred when the PBR fell below 1x.
As can be inferred from the formula, a low PBR stock corresponds to a case where the company has a lot of assets but a low stock price.
If a company has a lot of assets but its operating performance and profit growth are not promising, it will be difficult for it to escape a low PBR.
---From "PER, PBR, EPS and PEG"

If the jeonse system disappears, the number of new apartments for sale will inevitably decrease rapidly.
This is because a lot of investment is made by giving out a jeonse deposit when it is time to move in after receiving a new apartment.
The deposit is used to cover the loan, because the deposit that the landlord receives from the tenant is interest-free money.
The argument that jeonse deposits should be regulated because they serve as a type of private finance is gaining traction.
However, it is difficult to view this as an unequal or unfair private loan contract because the landlord does not borrow money completely for free, but rather lends the house and pays all kinds of taxes.
The reason why the world is maintained is because of this structure and reason.
As jeonse (long-term lease) disappears and new apartment sales decrease, the supply of new apartments will decrease, which will inevitably lead to rising prices.
If demand for new apartments also decreases similarly, prices will not rise, but demand for new apartments is expected to remain high, both now and in the future.
Of course, if prices rise too much, demand may involuntarily decrease.
If all jeonse (long-term deposits) are converted to monthly rent, the burden of housing costs will increase and disposable income will decrease, which could lead to a contraction in domestic demand.
As expected, the savings rate also goes down.

---From "The End of the Jeonse Era, Is the Era of Monthly Rent a Blessing?"

If you apply for a new apartment and are selected, you will have the right to purchase the apartment until you move in.
In the past, subscription rights were not considered as housing when considering the tax exemption conditions for one house per household, but subscription rights acquired after January 1, 2021 are considered as housing.
Therefore, if you own a house and acquire the right to purchase, you must dispose of the existing house within two years to be considered a temporary second home owner and exempt from transfer tax.
The temporary exemption from transfer tax on two homes (one home + one subscription right/occupancy right) was significantly improved in January 2023 to revitalize the frozen housing market.
First, the deadline for disposing of existing homes has been extended by one year, from two years to three years.
Now, if you dispose of your existing home within 3 years (basic disposal period) after acquiring the right to sell, you can receive the benefit of exemption from transfer tax.
In addition, if the right to move in or the right to purchase is completed as a house and the house is occupied, even if 3 years have passed from the date of acquisition of the right to move in or the right to purchase, the transfer tax does not have to be paid if the existing house is sold within 3 years (special disposal period) after completion.
There is no actual residency requirement for the basic disposal period of 3 years, but there is an actual residency requirement for the special disposal period of 3 years.
---From "Everything About Taxes Related to Pre-sale Rights"

It is no exaggeration to say that the domestic secondary battery industry ecosystem is almost completely established, from raw materials to finished products (cells).
In the semiconductor industry, integrated semiconductor manufacturers (IDMs) such as Samsung Electronics and SK Hynix, which focus on memory semiconductors, are at the top, and an ecosystem of materials, parts, and equipment companies is established below them.
There is also a high dependence on overseas countries, including the United States, for key equipment.
However, in the secondary battery industry, four key material companies (positive electrode materials, negative electrode materials, separators, and electrolytes) are leading the entire battery industry ecosystem.
Of course, the three cell companies (LG Energy Solution, Samsung SDI, and SK On) are overwhelmingly large in terms of market capitalization and sales, but domestic material companies have global competitiveness and have established themselves as the central axis of the secondary battery industry ecosystem on an equal footing with cell companies.
In particular, cathode material companies, which account for 40-50% of the cost of secondary batteries and determine the capacity and performance of the battery, are effectively dominating the secondary battery ecosystem.
This is because domestic cell manufacturers cannot produce batteries without collaborating with domestic cathode material companies.
Domestic cathode material manufacturers are evaluated to have achieved the status of 'super-B' by possessing ternary and tetravalent battery technologies.
---From "Domestic Secondary Battery Materials Value Chain"

Among the Federal Reserve's organizations, the Federal Reserve Board (FRB) manages, monitors, and supervises the U.S. financial system to ensure its stable operation. While the FRB's board of directors meets biweekly, it rarely receives significant media or public attention.
On the other hand, the FOMC holds a high profile, attracting the attention of not only Americans but the entire world. On days when the former chairman stands before a microphone after a meeting to deliver a statement and hold a Q&A session with reporters, investors in stocks and bonds, in particular, closely watch every word and phrase to determine its potential market impact. The FOMC is the decision-making body for monetary policy within the Fed, with a total of 19 members, including seven Federal Reserve Board members and 12 regional bank presidents.
Of the 19 members, eight, including the seven Federal Reserve Board members and the New York Federal Reserve Bank president, always have voting rights. The FOMC chair is the Fed chairman, and the New York Federal Reserve Bank president serves as vice chair.
The remaining 11 regional presidents are divided into groups of 2-3 (Boston, Philadelphia, Richmond, Cleveland, Chicago, Atlanta, St. Louis, Dallas, Minneapolis, Kansas City, San Francisco) and the four of them take turns voting for one year.
Therefore, when the FOMC meets, there are a total of 12 members who have voting rights.
Of course, there are occasional vacancies on the FRB board, resulting in fewer than 12 members. The FOMC meets eight times a year.
It will be held at six-week intervals, and the schedule for the 2024 regular meeting is as follows.

---From "FOMC, which the whole world is watching"