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Electronic display boards show Korea's financial markets at Hana Bank's dealing room in central Seoul on March 19. The won was above the 1,500 level when the regular session closed at 3:30 p.m. — the first time for it to be at that level during intraday trading since the financial crisis in March 2009.[YONHAP]

Won hits 17-year low as surging energy prices, Fed hawkishness rattle market

The won closed above the psychological threshold of 1,500 against the dollar on Thursday, marking the first time it has done so since the global financial crisis 17 years ago.

2026.3.19

Electronic boards at Hana Bank in central Seoul show the Kospi and the won-dollar exchange rate on Sept. 22. The won almost broke 1,400 against the greenback as the dollar strengthened on a hawkish U.S. Federal Reserve stance, while Britain's budget deficit came in significantly higher than the forecast. [YONHAP]

Won nearly hits 1,400 to the dollar as U.S. trade talks stall

The Korean won nearly broke the 1,400 threshold against the dollar on Monday, weighed down by stalled Korea-U.S. trade negotiations and a stronger dollar driven by Britain's budget deficit coming in significantly higher than expected.

2025.9.22

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Federal Reserve Chair Jerome Powell speaks during a news conference after the Federal Open Market Committee meeting, on March 19, at the Federal Reserve in Washington. [AP/YONHAP]

U.S. Fed holds key lending rate steady, pencils in two cuts this year

The U.S. Federal Reserve on Wednesday kept its benchmark interest rate unchanged and signaled the possibility of two rate cuts this year, as it is cautiously assessing the ramifications of U.S. President Donald Trump's tariff policies.

2025.3.20

U.S. Federal Reserve Chair Jerome Powell speaks during a press conference following a two-day meeting of the Federal Open Market Committee in Washington on Jan. 29. [REUTERS/YONHAP]

Seoul vows vigilance in face of Trump policy uncertainty

The Korean government reiterated its resolve to address uncertainty over Donald Trump administration policies in a macroeconomic meeting on Thursday.

2025.1.30

U.S. Federal Reserve Chairman Jerome Powell speaks during a news conference in Washington on Dec. 18 following the Federal Open Market Committee (FOMC) meeting. In Korea, the won-dollar exchange rate soared above the 1,450 won per dollar mark for the first time in 15 years and nine months following the FOMC meeting. [EPA/YONHAP]

Won hits 15-year low after Fed signals plan to slow rate cuts

The Korean won fell to a 15-year low as the U.S. Federal Reserve signaled a slower pace of rate cuts, prompting emergency measures by Korea's government to stabilize the currency.

2024.12.19

Minister of Economy and Finance Choi Sang-mok, front right, and Bank of Korea Gov. Rhee Chang-yong enter a meeting room for an emergency meeting on macroeconomic and financial issues in central Seoul on Dec. 19. [YONHAP]

Finance minister warns of short-term market volatility following U.S. rate cut

Finance Minister Choi Sang-mok on Thursday forecast heightened volatility in Korea's financial and foreign exchange markets in the short term following the U.S. Federal Reserve's latest rate cut.

2024.12.19

U.S. Federal Reserve Chairman Jerome Powell walks from a news conference in Washington on May 3, 2023, following the Federal Open Market Committee meeting. [AP/YONHAP]

The Fed is about to cut interest rates. Will Korea follow?

Korea deliberates its interest rate amid U.S. rate cuts, with inflation at target levels but concerns over household debt and domestic demand stalling.

2024.9.18

U.S. Federal Reserve Chair Jerome Powell holds a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington on Wednesday. [REUTERS/YONHAP]

Fed holds rates steady as Korea remains wary of possible volatility

As the U.S. Fed kept interest rates at 5.25 percent to 5.50 percent for the sixth straight meeting, the market response indicated that traders perceived the Fed’s stance to be “dovish in general,” the Bank of Korea said Thursday in a release.

2024.5.2

Bank of Japan Governor Kazuo Ueda attends a press conference after a policy meeting at BOJ headquarters in Tokyo on December 19, 2023. [REUTERS/ Yonhap]

BOJ hikes rates, sparking optimism for Korean exports

The Bank of Japan raised its interest rates for the first time in 17 years, which analysts expect to impact the competitiveness of Korean products and corporate products. Effects on semiconductors will likely be minimal.

2024.3.19