President Lee Jae Myung said on Wednesday that financial authorities expect the won to strengthen to around the 1,400 level in one or two months. He vowed to take measures to stabilize the foreign exchange market. The remarks come amid growing economic concerns over the Korean currency's prolonged weakness.
At a New Year's press conference held at Cheong Wa Dae in Seoul on January 21, 2026, President Lee Jae Myung outlined the government's stance on stabilizing the Korean won's exchange rate. He stated that financial authorities anticipate the won strengthening to around the 1,400 level against the dollar within one or two months. This comes as the currency's ongoing weakness has been straining the economy, raising concerns among policymakers and businesses.
President Lee noted that some observers regard the won's persistent depreciation as a "new normal," emphasizing that this trend is not unique to South Korea and thus challenging to reverse through domestic measures alone. "(The government) will continue to identify available policy tools and make efforts to stabilize the foreign exchange rate," he said. He added that the administration is already implementing a range of effective policy measures within its capacity.
The comments underscore efforts to address broader economic pressures amid global uncertainties. The weak won has driven up import costs and corporate burdens, prompting the government to prioritize foreign exchange stability. Analysts suggest that while policy actions are underway, international factors could still influence rate fluctuations.
