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October is coming up and are you concerned about where to go?

Here is the answer 👇️ 

 👀 Today’s Email about:

• can the Korean won continue to gain against the US dollar?

• Calls growing for better insurance coverage for mental health

• League of Legends superstar wins customized Marcedes!

NEWS 📰

Can the Korean won continue to gain against the US dollar?

The Korean won may continue to strengthen, with the won-dollar exchange rate possibly falling below 1,300 won against the U.S. dollar, according to market analysts on Monday. This is largely influenced by its correlation with Japanese and Chinese currencies.

Optimism is fueled by China’s stimulus measures and a slowdown in U.S. inflation. China’s actions are tied to the appreciation of the yuan, while the weakening U.S. dollar is linked to the Federal Reserve's accommodative monetary policy.

Many experts believe the won’s further strengthening will hinge on China’s economic recovery and Japan’s monetary easing. A report by Shinhan Securities stated, "The won could appreciate to around 1,300 won if the yuan strengthens further."

It also noted that if the globally weakening U.S. dollar rebounds slightly, the won might dip below 1,304. Monitoring the yuan's trajectory will be critical.

Korea’s reliance on China for export growth has made the won-yuan connection significant, with foreign investors increasingly seeing Korea as an alternative investment to China. The report also indicated, "The won may remain near the 1,304 level, based on recent dollar-won exchange rates in New York, as concerns about a U.S. economic slowdown and ongoing monetary easing persist."

A sharp rebound in the U.S. dollar could occur due to excessive market expectations of U.S. monetary easing and the upcoming presidential election in November, according to Kim Yu-mi, a researcher at Kiwoom Securities. She added, "The foreign exchange and equity markets are expected to remain volatile leading up to the November election."

However, Kim suggested the U.S. presidential election is more likely to temper the positive effects of monetary easing rather than trigger a market crash.

As of 9 a.m. Monday, the won was trading at 1,310.60 against the U.S. dollar, slightly weaker than Saturday’s early hours at 1,307, but stronger than the 1,390 level seen in mid-June. The won had fallen below 1,400 per dollar in April due to Middle East tensions, marking a 17-month low and raising concerns, as similar declines had previously signaled major economic crises.

By 3:30 p.m. Monday, the won traded at 1,307.8 against the dollar.

Calls growing for better insurance coverage for mental health

Insurance companies in Korea are facing increasing demands to develop mental health insurance products as the prevalence of mental health issues, such as depression and anxiety, continues to rise. One in four Koreans is estimated to experience mental health problems at some point in their life, and the number of patients with depression surged by 35% between 2017 and 2021.

Despite the growing need, insurers highlight significant challenges. The subjectivity in diagnosing mental health issues complicates claim validation and raises concerns about moral hazard. Social stigma surrounding mental illness also leads to underreporting, making it difficult for insurers to gather sufficient data to design effective insurance products.

While the government has expanded coverage for mental health through public insurance programs, private insurers have been slower to act, mainly offering coverage for long-term hospitalization. Non-reimbursable treatments, which make up a large part of mental health care expenses, remain largely uncovered.

The Korea Insurance Research Institute (KIRI) has urged cooperation between the government, insurers, and employers to expand mental health coverage. KIRI also suggests that insurers develop products tailored for specific occupational groups and adjust benefits based on domestic and international research.

ENTERTAINMENT 🌄

League of Legends superstar wins customized Marcedes!

Rosé, a member of the K-pop girl group BLACKPINK, is preparing for a solo career in the global music industry by signing a deal with the American record label Atlantic Records.

The singer's agency, The Black Label, announced this new partnership with the global label on Friday, suggesting upcoming solo activities.

Atlantic Records, part of Warner Music Group, is known for its diverse range of music and for representing several world-renowned pop stars, including Bruno Mars, Coldplay, and Ed Sheeran.

“The interest in the kind of synergy that Rosé, a globally loved artist, will create by collaborating with Atlantic Records is very high,” the agency stated in the announcement.

Rosé made her debut as the main vocalist of BLACKPINK in 2016 with the album "SQUARE ONE." The group, under the K-pop giant YG Entertainment, quickly rose to fame, earning international recognition. They have achieved a record-breaking career with 12 Guinness World Records, releasing hit songs such as "DDU-DU DDU-DU" (2018), "Kill This Love" (2019), and "How You Like That" (2020).

Rosé started her solo journey with the single "R" in 2021, becoming the second BLACKPINK member to pursue a solo career after Jennie. The title track, "On The Ground," was immensely successful, reaching the top of the Billboard Global 200 and placing at No. 70 on the Hot 100 chart, setting a new record for the highest ranking among K-pop female solo artists at that time.

Additionally, it broke the Guinness World Record for the most-viewed YouTube music video within 24 hours, a record that was later surpassed by her BLACKPINK bandmate Lisa later that same year.

Since releasing her debut single, Rosé has not put out any further solo albums. However, she signed a deal for solo projects with The Black Label, a hip-hop agency founded by producer Teddy, in June while also renewing her contract for BLACKPINK's activities with YG Entertainment.

Recently, YG founder Yang Hyun-suk hinted at BLACKPINK's comeback planned for next year.

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Unravel Korea!