07 May '25

South Korea's Currency Concerns: Pressure from the US and Economic Uncertainty

The Bank of Korea grapples with global economic pressures and potential US influence on currency valuation.

The Governor of the Bank of Korea, LEE Chang-yong, stated on May 6th that foreign exchange market volatility is likely to persist due to global economic uncertainty and the domestic political situation in South Korea. He also reiterated the need for monetary easing to stimulate the domestic economy. Notably, LEE mentioned potential pressure from the United States government on Asian nations to revalue their currencies.

According to reports from Yonhap News Agency, LEE made these remarks to accompanying journalists during the Asian Development Bank (ADB) annual meeting in Milan, Italy. He explained that the continuous appreciation of Asian currencies, including the South Korean Won, is partly attributed to pressure from the US government, urging currency appreciation, as well as expectations of a potential restart of trade negotiations between the US and China.

Other Versions

Justice • 08 Apr '25

A life in Taiwan

South Korea's Currency Concerns: Pressure from the US and Economic Uncertainty

The Bank of Korea grapples with global economic pressures and potential US influence on currency valuation.

Other Versions

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