Foreign Exchange Authorities: "Excessive Won Weakness Undesirable... Government's Determination and Capability Will Soon Be Seen" (Update)

On the 23rd, the won/dollar exchange rate, which broke through 1,480 won after 8 months, continued its high-rise trend by surpassing 1,484 won during the day. The won/dollar exchange rate and KOSPI are displayed on the status board of the Hana Bank dealing room in Jung-gu, Seoul. On this day, the won/dollar exchange rate started the session at 1,480.0 won, down 0.1 won, but the upward trend is expanding. December 23, 2025 Photo by Jo Yongjun

On December 24, just three days before the end of this year's won/dollar exchange rate settlement, the foreign exchange authorities made a verbal intervention to stabilize the exchange rate.

Immediately after the opening of the Seoul foreign exchange market that day, Kim Jaehwan, Director General of International Finance at the Ministry of Economy and Finance, and Yoon Kyungsoo, Director General of the International Department at the Bank of Korea, stated in a "market-related message from the foreign exchange authorities" that "an excessive weakening of the won is not desirable."

The authorities emphasized, "Over the past one to two weeks, we have held a series of meetings and announced measures assigned to each ministry and agency."

They added, "You will soon see that this process was undertaken to demonstrate the government's strong determination and comprehensive policy implementation capabilities."