President Lee: "Exchange Rate Expected to Fall to Around 1,400 Won in a Month or Two"

President Lee Jae-myung's New Year Press Conference on the 21st
Lee: "We Are Holding Up Well Compared to Japan"

President Lee Jae-myung is speaking at the New Year's press conference held at the Blue House State Guest House on the 21st. Photo by Yonhap News

President Lee Jae-myung stated on the 21st, "According to the responsible authorities, it is predicted that the exchange rate will fall to around 1,400 won in about one or two months."

President Lee made this announcement during a press conference held at the Blue House State Guest House under the theme "Great Transformation Achieved Together, Great Leap Enjoyed by All."

When asked about measures to address the exchange rate issue, President Lee responded, "If there were any special measures, we would have already taken them," adding, "This is not a phenomenon unique to Korea, so it is difficult to restore the situation with policies specific to Korea alone."

However, President Lee explained, "The won-dollar exchange rate is partly linked to the yen-dollar exchange rate," and added, "Compared to Japan, our currency has depreciated less." He further elaborated, "If we were to match the Japanese standard, the won-dollar exchange rate would be around 1,600 won, but we are still holding up relatively well."

President Lee also emphasized, "We will continue to identify feasible measures and strive to stabilize the exchange rate."