미 금리 전망, 티몬.위메프 사태 등 경제 이슈 종합 분석
Hello and welcome to Within the Frame. Coming to you live from Seoul, I'm Han Da-eun.
The U.S. Federal Reserve has begun its two-day meeting for July with market watchers eagerly anticipating signals on when it might begin cutting its benchmark interest rates.
The meeting comes as the U.S. stands at a crucial crossroads, after holding the influential rate at 23-year highs since last July.
This, as the Bank of Korea deliberates on the timing of its rate cut amid weaker-than-expected economic growth and soaring household debt.
Meanwhile, cash-strapped e-commerce platforms TMON and WeMakePrice have filed for court receivership, further delaying payments of pending settlements to sellers.
For an in-depth analysis on interest rates and liquidity crisis of TMON and WeMakePrice, we have Shim Myungkyu, Associate Professor of Economics at Yonsei University joining us via Skype.
And joining our conversation from the U.S. is Professor Kim Hwagyun at Texas A&M University’s Mays Business School.
(SHIM) Q1. Do you expect another rate freeze from the FOMC meeting?
+Some economists argue that the U.S. Fed must seek an early rate cut from this month. What’s your take on this?
(KIM) Q2. This week’s FOMC meeting is considered to stand on a critical juncture in over two years of U.S. tightening spree. Do you anticipate a signal of a rate cut in September, aligning with market expectations, and do you expect a baby step or a big step?
(SHIM) Q3. Calls are growing that South Korea, too, should not miss the ‘golden time’ for a rate cut. Given the weaker-than-expected growth of the Korean economy in the first half, when do you project rate cuts to begin?
(KIM) Q4. The Korean economy contracted 0.2% in the second quarter posting a minus growth. What is dragging down the growth despite modest export recovery?
(SHIM) Q5. The government maintained its previous growth outlook for Korea this year at 2.6% despite the second-quarter contraction. Major global financial institutions, meanwhile, revised up their previous estimates to 2.5% or 2.6%. What’s your projection?
(KIM) Q6. Switching gears to the liquidity crisis of e-commerce platforms Tmon and WeMakePrice Some customers have succeeded in getting their refunds while others are still anxiously waiting. And it seems the situation is more severe for sellers, with financial authorities estimating their unsettled payments at around 210 billion won, or roughly 150 million dollars. Give us a rough estimate of expected financial damage for customers and sellers.
(SHIM) Q7. Tmon and WeMakePrice are both owned by Singapore-based e-commerce company Qoo10. While Qoo10's aggressive business expansion is being blamed for the crisis, its Chief Executive Ku Young-bae has been barred from departing Korea. Give us a detailed account of how the crisis all began and what went wrong.
(KIM) Q8. A Seoul court has begun the process of screening Tmon and WeMakePrice for their court-receivership, freezing their assets and debts. But it’s expected to take a considerable time until sellers will get their unsettled payments. What’s the expected trajectory of the liquidity crisis from here?
And that brings us to the end of this show.
Thank you for watching, and be sure to tune in same time tomorrow to join our conversation.
Good bye for now.
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2024-07-31, 18:30 (KST)
