Updated
Updated · Bloomberg · Jun 4
South Korea Vows Action as Won Nears 2009 Low
Updated
Updated · Bloomberg · Jun 4

South Korea Vows Action as Won Nears 2009 Low

1 articles · Updated · Bloomberg · Jun 4

Summary

  • South Korea said it will take prompt measures if market moves turn excessive, after the won weakened toward its lowest level since 2009.
  • Finance Minister Koo Yun Cheol issued the pledge after a regular meeting with officials including the Bank of Korea governor, saying authorities were watching foreign-exchange markets with high vigilance.
  • Rising bond yields added to the pressure behind the warning, with officials framing intervention as a step to prevent market anxiety from spreading.
  • The statement underscores mounting concern over financial-market volatility as the currency slides toward a 17-year low.

Insights

Will the Bank of Korea risk a recession by raising interest rates to save the falling Won?
Can Seoul's financial war chest truly defend the Won against global geopolitical storms?
With allies hesitant to secure oil routes, is South Korea facing an unavoidable energy crisis?