South Korea is expecting its currency, the won, to strengthen to around 1,400 per dollar in the coming months, signaling positive momentum for trade and economic stability. President Lee Jae Myung shared this outlook during a press briefing, emphasizing that domestic policies are part of a broader effort to support the foreign exchange market.
The won responded immediately to the announcement, rising 0.5% to 1,468.8 per dollar, recovering from its weakest level since late December. Local traders noted that the currency’s rebound was driven by market adjustments following the president’s remarks.
Authorities have introduced a series of measures since last year to support the won, which had reached 16-year lows. While these initiatives are helping, President Lee highlighted that domestic policy alone cannot fully stabilize the currency, especially with the won’s movement partly influenced by trends in the Japanese yen.
For exporters and importers, the expected strengthening of the won could improve trade conditions by reducing costs for overseas purchases and fostering a more predictable environment for international contracts. Officials continue to explore sustainable policy tools to ensure stable exchange rates, aiming to support both domestic growth and South Korea’s role in global trade.
The outlook suggests a more favorable environment for businesses engaged in cross-border trade, providing confidence for planning and investment decisions in the near term.
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