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Ukrainian President Volodymyr Zelensky criticized the United States' decision to relax sanctions on Russian oil, stating that it provides Russia with funds for new attacks. He emphasized that such measures enable Russia to continue its aggression against Ukraine.
Bank of Korea economists attribute the Korean won's higher volatility compared to other major currencies to the limited depth of its foreign exchange market, as detailed in a recent central bank paper.
Automaker Kia has announced a substantial capital expenditure plan of 49 trillion Korean Won by 2030, focusing on expanding its electric vehicle production, software development, and robotics initiatives.
South Korean stocks experienced a decline of over 1.5 percent, ending a four-day winning streak, as investors reacted to ongoing uncertainties in the Middle East. The Korean won also weakened against the U.S. dollar.
Flitto, a language data and translation company, has announced that it secured a significant order worth 4 billion South Korean Won.
European and world stock markets, including Asian equities, are experiencing downward trends for the fifth consecutive week due to intensifying Middle East conflict, which has also caused oil prices to surge towards $117 per barrel and led to a rebound in soybean and corn prices, further fueled by fears of escalation in Iran.
The South Korean currency has fallen sharply to its fourth-lowest level against the US dollar in March amid a foreign selloff on the stock market, financial data showed Sunday.
President Donald Trump has reiterated his 48-hour ultimatum to Iran to reopen the Strait of Hormuz, threatening to 'obliterate' its power plants and energy infrastructure. Tehran has warned it will respond with attacks on U.S. and Israeli energy targets if its facilities are targeted and stated the strait is open to all except "enemy" ships.
Asta has announced that it has won a new order valued at 441 million South Korean Won.
The South Korean currency, the won, has depreciated to a fresh 17-year low against the U.S. dollar, with the ongoing Middle East crisis cited as a primary factor for its decline.
Finance Ministers Satsuki Katayama of Japan and Koo Yun-cheol of South Korea have expressed serious concern over the recent sharp depreciation of the Korean won and the Japanese yen, indicating readiness to act against forex volatility.
Hanwha Corp has announced plans to cancel shares valued at 126 billion Korean Won.
The Korean won is poised for a rebound, making the deeply undervalued currency an appealing bet for investors, particularly when paired against the overvalued Thai baht, according to a seasoned foreign exchange strategist. Before the US-Israeli strikes on Iran that rattled global markets earlier this month, the Korean equity market had been booming; the benchmark Kospi briefly topped the 6,300 level for the first time, roughly doubling from a year earlier. Despite the rally in stocks, the local
The Kospi plunged 8 per cent on Wednesday (Mar 4), extending a steep selloff from the previous day as the escalating war in the Middle East rattled investor sentiment.
The South Korean won is experiencing the most significant losses among various Asian currencies.
South Korea's Finance Minister Koo Yun-cheol announced that the Korean won is stabilizing against the US dollar after depreciation linked to the US-Israeli war against Iran, expressing optimism for market alignment.
South Korea's National Pension Service (NPS) is expanding its currency hedging strategies in an effort to bolster the value of the Korean Won amidst market fluctuations.
The Bank of Korea maintained its benchmark interest rate at 2.5 percent, citing concerns over the volatility of the Korean won and increasing inflationary pressures, partly linked to the Iran conflict.
The South Korean won fell against the US dollar Thursday as the United States and Iran wrangled over the terms of a two-week ceasefire in their monthlong conflict.
South Korea's ministry has announced plans to initiate a crude oil swap program involving local refiners.
Brent crude oil prices are surging towards a four-year high amid the widening Middle East conflict and U.S. President Donald Trump's explicit statements about seizing Iran's oil, including Kharg Island's terminal. Iran's Speaker Ghalibaf has also commented on how to profit from Trump's actions, further escalating market risks and geopolitical tensions.
(LEAD) Korean won extends losses for 3rd session amid Middle East crisis Yonhap News Agency
The South Korean currency, the won, has fallen to a 17-year low against the US dollar, as escalating geopolitical tensions from the Iran crisis continue to impact investor sentiment and increase demand for hard currency.
The South Korean Won has plunged to a 17-year low against major currencies, with experts attributing the sharp decline to the ongoing Middle East conflict and its broader economic repercussions.
The South Korean currency has slipped past 1,500 won per dollar, a depreciation attributed to the recent hike in global oil prices.
Mirae Corp has secured a new order valued at 6 billion Korean Won, boosting its business prospects.
Stock Market News Today Live Updates: A major gap-down opening is likely for Indian equities as oil prices surged above $105 per barrel.
Korean won drops to near 2-month low after volatile week amid Middle East crisis Yonhap News Agency
Seoul shares surged more than 2 percent Tuesday, closing at a fresh record high above the 5,900-point mark, driven by strong gains in technology shares. The Korean won fell against the US dollar.
South Korea's finance minister has stated that the Korean won is stabilizing against the US dollar. The minister expressed hopes for the currency's alignment with market expectations.
Yc Corp has announced that it has won a significant order valued at 42 billion South Korean Won.
‘The entire world holds its breath, wondering what's next going to come out of his mouth,’ the New York Democrat said
A discussion is ongoing regarding the regulation of Korean won-denominated stablecoins, specifically whether banks or qualified non-bank entities should be authorized to issue them.
The Korean won has dropped to a new 17-year low, attributed to ongoing oil supply woes and a significant sell-off of foreign stocks.
The CEO of Korea's $1 trillion pension fund has indicated that the fall of the Korean Won may necessitate intervention or other actions.
Former President Trump has reiterated his rejection of a ceasefire with Iran, asserting that Iran desires a deal but fears its own people and the US. Meanwhile, oil prices continue to climb past $100, driven by lingering risks of a prolonged US-Iran war, impacting global powers as Trump and Xi pursue energy dominance, with Europe particularly vulnerable.
The Korean won has fallen to a 17-year low against major currencies and continues to trade sharply lower as the crisis in Iran persists, impacting global markets.
Korean won rebounds against U.S. dollar as oil prices ease
The International Energy Agency on Wednesday agreed to release a record 400 million barrels of oil from strategic stockpiles to combat a spike in global crude prices since the start of the US-Israeli war with Iran, with the US contributing the bulk of the supply.
The Korean won has strengthened for a second consecutive session, influenced by a decline in oil prices and a weaker U.S. dollar, according to Yonhap News Agency.
Stocks and currencies have seen steep losses, with the MSCI equity index posting its biggest weekly drop in six years, and bond yields have jumped.
Seoul shares plunged over 12 percent Wednesday to close below the 5,100-point mark amid growing concerns over the economic fallout from the Middle East conflict. The Korean won fell sharply against the U.S. dollar. The Korea Composite Stock Price Index extended its losses, tumbling 698.37 points, or 12.06 percent, to close at 5,093.54, following a plunge of over 7.24 percent the previous session. The Korea Exchange triggered circuit breakers shortly after the KOSPI fell more than 8 percent amid
Hizeaero has announced that it has won a significant order valued at 78 billion Korean Won.