The third week of July brings a concentrated schedule of major economic events across Korea and the United States. On July 13, Korean portable X-ray solutions firm Remedi lists on the Kosdaq following a retail subscription that attracted approximately 5.3 trillion won in deposits and a 1707-to-1 competition ratio. The same day, Princess Anne of the United Kingdom begins a two-night, three-day visit to Korea. US June consumer price index data releases on July 14 at 9:30 PM, followed by Fed Chair Kevin Warsh's first House testimony on monetary policy at 11 PM the same night—his initial congressional appearance since chairing the June 16-17 FOMC meeting that held rates at 3.50-3.75 percent. On July 16, the Bank of Korea convenes its monetary policy committee meeting, while Taiwan's TSMC announces second-quarter earnings; US June retail sales and pending home sales data also release that day. Korean stock markets close July 17 for Constitution Day. The week's events occur against the backdrop of Samsung Electronics' record second-quarter results—171 trillion won in revenue (up 129 percent year-over-year) and 89.4 trillion won in operating profit (up 1810 percent)—setting a high bar for TSMC's quarterly report.
Remedi Debuts on Kosdaq with 5.3 Trillion Won Retail Subscription
Remedi, a low-dose portable X-ray solutions company, lists on the Kosdaq on July 13 (Monday). CEO Cho Bong-ho stated at a recent press conference that the company plans to expand beyond its core medical portable equipment into industrial non-destructive testing (NDT), X-ray core components, and AI image analysis. The July 1-2 retail public offering attracted approximately 5.3 trillion won in subscription deposits, with a retail investor competition ratio of 1707-to-1 and 316,557 applications. Institutional demand forecasting saw participation from 2,246 institutions with a 1146-to-1 competition ratio. The IPO price was set at the top of the hoped-for range (17,800-20,700 won) at 20,700 won.
Princess Anne of the United Kingdom, sister of King Charles III, visits Korea on July 13 with her husband Sir Tim Laurence for a two-night, three-day stay. The itinerary includes commemorating the 75th anniversary of the Battle of Imjin River and honoring British soldiers who participated in the Korean War, as well as highlighting bilateral cooperation across marine manufacturing, advanced technology, research, education, and people-to-people exchanges.
US Releases June CPI and PPI Data Mid-Week
The US Department of Labor releases the June consumer price index (CPI) on July 14 (Tuesday) at 9:30 PM. CPI is a leading inflation indicator measuring price changes in goods and services purchased by households. The following day, July 15 (Wednesday) at 9:30 PM, the Department of Labor publishes the June producer price index (PPI). PPI, also a key inflation measure released monthly by the US Department of Labor, aggregates price changes for goods and services supplied by domestic producers to the domestic market and plays an important role in influencing the Fed's policy rate decisions.
Fed Chair Warsh Testifies to House on Monetary Policy
Fed Chair Kevin Warsh appears before the House of Representatives on July 14 at 11 PM to testify on monetary policy, marking his first congressional testimony since taking office. Warsh previously chaired his first FOMC meeting on June 16-17, where the committee held the federal funds rate at the current 3.50-3.75 percent range. Despite the rate hold, the Summary of Economic Projections (SEP) and press conference strongly emphasized the commitment to price stability. At the press conference, Warsh stated, "We must maintain a restrictive policy stance until inflation clearly returns to the target level," underscoring that price stability is the top priority. The testimony takes place approximately two weeks before the July 28-29 FOMC meeting.
Bank of Korea Holds Monetary Policy Meeting; TSMC Reports Q2 Earnings
The Bank of Korea convenes its monetary policy committee on July 16. The committee deliberates and votes on major matters related to the central bank's monetary and credit policy, including base rate decisions. Meeting minutes are prepared, and portions related to monetary and credit policy are disclosed to the public.
On the same day, Taiwan Semiconductor Manufacturing Company (TSMC), the world's largest foundry (contract chipmaker), announces its second-quarter (April-June) earnings. Samsung Electronics recently disclosed preliminary second-quarter results showing record revenue of 171 trillion won (up 129 percent year-over-year) and operating profit of 89.4 trillion won (up 1810 percent), surpassing even Nvidia's market capitalization to claim the global number-one spot. Global attention now focuses on TSMC's quarterly performance.
The US Federal Reserve releases its Beige Book economic conditions report on July 16 at 3 AM. The Beige Book compiles surveys and analyses of regional economies conducted by the Fed's 12 regional Federal Reserve Banks, serving as an indicator of current US economic trends and issues.
US June Retail Sales and Pending Home Sales Data Released
The US Department of Commerce releases June retail sales data on July 16 at 9:30 PM. Retail sales, published monthly by the Commerce Department, measure inflation-adjusted changes in total retail-level sales. The indicator serves as a key gauge of US retail conditions and provides insight into consumer spending and overall economic activity.
The National Association of Realtors (NAR) publishes the June pending home sales index on July 16 at 11 PM (Korean time). The index—also called the pending home sales index—measures homes under contract but not yet closed (pending payment settlement). It acts as a leading indicator that can forecast existing home sales up to two months in advance. An index above 100 indicates active home sales; below 100 signals sluggish sales.
Korean Stock Markets Closed for Constitution Day
July 17 (Friday) is Constitution Day, a public holiday, and Korean stock markets including KOSPI, KOSDAQ, and NEXT (NXT) are closed. Trading halts on the securities market, derivatives market, and general commodities market. Both on-exchange and over-the-counter clearing and settlement operations are also suspended.
The US Federal Reserve releases June industrial production data on July 17 at 10:15 PM. The indicator measures inflation-adjusted changes in total output produced by the manufacturing, mining, and utilities sectors, representing the level of industrial production activity over a given period.
FAQ
What is the Bank of Korea's monetary policy committee meeting scheduled for July 16?
The Bank of Korea holds its monetary policy committee meeting on July 16. The committee deliberates and votes on major matters related to the central bank's monetary and credit policy, including base rate decisions. Meeting minutes are prepared, and portions related to monetary and credit policy are disclosed to the public.
When does TSMC announce its second-quarter earnings?
TSMC, the world's largest foundry, announces its second-quarter (April-June) earnings on July 16. The announcement follows Samsung Electronics' disclosure of record preliminary second-quarter results—171 trillion won in revenue (up 129 percent year-over-year) and 89.4 trillion won in operating profit (up 1810 percent).
Why are Korean stock markets closed on July 17?
July 17 is Constitution Day, a public holiday in Korea. KOSPI, KOSDAQ, and NEXT markets are closed. Trading halts on the securities market, derivatives market, and general commodities market, and both on-exchange and over-the-counter clearing and settlement operations are suspended.
