Finance Minister Koo Yun-cheol mentioned that the Korean won has been stabilizing against the US dollar, hoping it will meet market expectations. The currency strengthened to around 1,460 won against the greenback after Iran reopened the Strait of Hormuz, amid prospects of a US-Iran deal to end the conflict.
Koo, speaking to Korean reporters in Washington, expressed optimism about the won appreciating against the dollar in line with market sentiments. He highlighted the importance of market dynamics in determining the currency’s value, emphasizing South Korea’s economic fundamentals.
Attending G20 finance meetings in Washington, Koo noted the international community’s positive outlook on South Korea’s economy. He observed a growing interest in the Korean market and suggested that effective economic management could position the country well in the global economy.
