In a follow-up to December meetings, top South Korean financial officials on January 8 stated the Korean won's excessive weakness has eased since late last year, though FX market volatility remains high. They pledged continued stabilization amid a rate of 1,449.10 won per dollar.
This January 8, 2026 meeting at Seoul's Hall of Banks—attended by Finance Minister Koo Yun-cheol, Bank of Korea Governor Rhee Chang-yong, Financial Supervisory Service Governor Lee Chan-jin, and Financial Services Commission Vice Chief Kwon Dae-young—built on December actions, including intensified monitoring, eased bank FX rules, and a December 24 verbal intervention against excessive won weakness.
Authorities assessed that depreciation has moderated from recent lows near 1,480 per dollar, with the won strengthening to its highest in nearly two months. However, they noted the exchange rate remains disconnected from fundamentals and the market highly volatile.
The Ministry of Economy and Finance announced prompt follow-up measures, emphasizing firm, consistent policy efforts. Participants reaffirmed readiness for comprehensive stabilization amid global pressures.
