Bank of Korea (BOK) Gov.
Shin Hyun-song speaks during the 2026 BOK International Conference at the bank's headquarters in Seoul, June 1.
Yonhap Korea’s financial authorities appear to be running out of options to stem the continued weakening of the won, with analysts on Friday saying a benchmark rate hike is effectively the strongest tool left for policymakers.
Despite repeated verbal warnings from authorities and a rare joint inspection of banks’ currency operations, the won has remained under pressure against the U.S. dollar, prompting market participants to look beyond conventional intervention measures.
In recent weeks, the won-dollar exchange rate has hovered around the 1,500 level, putting the local currency at its weakest point since 2009 during the global financial crisis.
