Finance Minister Koo Yun-cheol signals concern over the won’s depreciation, marking the current exchange rate as overly strong.
South Korea’s Finance Minister Koo Yun-cheol described the USD/KRW exchange rate at mid-1,500 as “excessive” during a cabinet meeting. The statement reflects growing unease over the won’s recent depreciation against the dollar, which has hovered near multi-year lows.
The won has faced persistent pressure amid a stronger USD and global risk aversion, with the exchange rate trading above 1,500 for much of the past month. Analysts had expected the government to tolerate a weaker currency to support exporters, but the minister’s remarks suggest heightened sensitivity to further declines.
No immediate market intervention was announced, though the comment may signal potential verbal or policy responses if the trend continues.