South Korea's Deputy PM Expects Won Stabilization as July Exports Hit $100B

According to Yonhap Infomax, South Korea's Deputy Prime Minister and Finance Minister Koo Yun-chul said on July 7 that the won will stabilize once external factors subside, citing strong economic fundamentals. He noted the country has recorded monthly exports of $100 billion with trade surpluses exceeding $30 billion.

Koo attributed recent exchange rate volatility to foreign investor portfolio rebalancing of approximately 150 trillion won, U.S. interest rate expectations, and Middle East tensions. He emphasized the government is monitoring the high exchange rate closely, as the stronger dollar reflects broader global currency movements including weakness in the euro and yen.