Jang Yong-seong, a member of the Financial Monetary Policy Committee of the Bank of Korea, evaluated on the 12th that the recent won-dollar exchange rate "has not risen as much as was feared."
On the same day, Jang attended a joint symposium between the Bank of Korea and the Korea Economic Development Association held at the Bank of Korea annex 2nd floor conference hall in Jung-gu, Seoul, and when asked by reporters about the impact of the exchange rate amid the recent martial law situation and impeachment phase, he responded accordingly.
Jang said, "Currently, the won-dollar exchange rate is greatly influenced by the rise in the Dollar Index (DXY)," adding, "Considering the rise in DXY, it is judged to have risen less than expected."
He continued, "It seems that the DXY will continue to rise," predicting that the exchange rate will maintain a high level for the time being.
Regarding concerns about the collapse of the foreign exchange reserves defense measure at the $400 billion level, he drew a line by saying, "It is not something to worry about," and "The foreign exchange reserves are very large, and there are many other means to respond to the exchange rate, such as the National Pension."
About President Yoon Seok-yeol's actions following the emergency martial law declaration on the 3rd, he said, "I heard the news on the plane to Australia," and "He played a role in reassuring overseas institutions about our country's situation." Jang had left the country on the night of the 3rd to attend a seminar in Australia.
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