Yena Park

UPDATE 2-BOK to throw new dollar lifeline to financial firms via repo operations

Jun 30 2020

SEOUL, June 30 South Korea's central bank said on Tuesday it will set up a U.S. dollar funding scheme for local insurers and brokerages using foreign exchange reserves, adding an ad hoc liquidity lifeline in case volatility increases again due to the COVID-19 pandemic.

Bobok 'til you drop: South Koreans roar back to malls as coronavirus curbs ease

May 04 2020

SEOUL/JEJU, South Korea At a glitzy Chanel boutique in downtown Seoul, Kim Soo-yeon joined dozens of others in festive shorts and flare dresses, her eyes out for a clutch purse she had coveted for weeks during the coronavirus pandemic. | Video

Cost of raising U.S. dollars in South Korea surges

Mar 13 2020

SEOUL The cost of raising U.S. dollars by swapping the South Korean won surged to a 6-year high on Friday as demand for dollar funding surged among local brokerages due to the hit from the coronavirus pandemic.

S.Korean state pension funds invest $1.2 bln in equities in August

Aug 07 2019

SEOUL, Aug 7 South Korea's National Pension Service (NPS) and other public pension funds have pumped a record 1.5 trillion won ($1.24 billion) into domestic equities this month so far, as local financial markets hit multi-year lows on U.S.-China trade tensions.

South Korea's won is Asia's whipping boy in U.S.-China trade war

Jun 12 2019

SEOUL/TOKYO South Korea's exposure to a stressed global manufacturing supply chain has knocked its currency - Asia's most risk sensitive - to over two-year lows as investors use it as a proxy to bet on the economic costs of a protracted U.S.-China trade war.

South Korea FX official expects Trump to strengthen Treasury's currency reporting scheme

Nov 15 2016

SEOUL South Korea is bracing for tougher scrutiny of its foreign exchange management from the U.S. Treasury Department under President-elect Donald Trump, and is working to avoid being labeled a currency manipulator, a South Korean foreign exchange official said.

Brain drain hits giant South Korean pension fund as office move looms

Nov 06 2016

SEOUL Known for its food culture, historic buildings and lush surrounds, the South Korean city of Jeonju's name translates as "perfect region".

South Korea in suspected $2 billion intervention after stern warning

Feb 19 2016

SEOUL South Korean foreign exchange authorities were suspected to have sold around $2 billion to prop up the won <KRW=>, shortly after issuing a stern warning against herd behavior to curb the local currency's weakness against the dollar.

South Korea forex official: won still strong vs euro, yen

Oct 14 2015

SEOUL, Oct 14 The won has fallen against the dollar in recent months but not as much as other major currencies have, a South Korean foreign exchange official said, indicating he sees the country's currency as over-valued.

South Korea launches yuan/won trading

Dec 01 2014

SEOUL, Dec 1 Direct trading between the Chinese and South Korean currencies began on Monday, with traders and government officials in Seoul saying transactions were more active than expected.

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