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