Democratic Socialist Melat Kiros Unseats Rep. Diana DeGette in Colorado Democratic Primary 
Maria Corina Machado Vows Return to Venezuela After Earthquakes Despite Obstacles 
Greece’s Bad Loan Crisis Continues to Limit Credit Access Despite Economic Recovery 
US Resumes Dollar Shipments to Iraq After Months-Long Suspension 
Central Banks Eye Gold, Reduce Dollar Exposure as AI Adoption Accelerates: OMFIF Survey 
NRC Proposes Radiation Rule Changes to Boost U.S. Nuclear Power Expansion Under Trump 
UK House Prices Hold Steady in June as Annual Growth Misses Forecasts 
Sheinbaum Says No One Is Above the Law After Abuse Video of Ex-Pemex Chief Emerges 
Trump Administration Declines USMCA Renewal, Opens Talks on New Trade Changes 
Asian Stocks Slide as Chip Shares Tumble Ahead of Key U.S. Jobs Report 
RBA Minutes Signal Australia Central Bank Remains Ready to Raise Interest Rates if Inflation Persists 
Trump Reports $1.4 Billion in Crypto Income as Digital Assets Become Top Wealth Source 
Russian Attacks on Dnipro, Zaporizhzhia, and Kharkiv Kill 10 as Ukraine Vows Response 
Chip Stocks Rally as Samsung and SK Hynix’s $1.3 Trillion Investment Plan Boosts AI Optimism 
U.S. Stocks End Q2 Higher as Strong Jobs Data and AI Rally Lift Wall Street 
US-Iran Doha Talks Show Limited Progress as Hormuz Shipping Remains Key Focus 
Oil Prices Slip as Iran Talks and Strong Supply Outlook Ease Market Concerns 
South Korea signaled heightened vigilance over its currency market on Thursday, with Vice Finance Minister Huh Chang saying the government is maintaining close communication with Japan and other major partners on foreign exchange issues as the South Korean won continues to weaken against the U.S. dollar.
Speaking at a news conference, Huh said the won has become significantly misaligned with the country's economic fundamentals, underscoring growing concern over persistent currency weakness. While he declined to discuss the possibility of coordinated market intervention, he stressed that Seoul is prepared to take action if excessive volatility or liquidity shortages disrupt the dollar-won market.
The remarks come just days before South Korea launches a historic 24-hour dollar-won trading system on Monday, a move aimed at improving market accessibility and strengthening the country's foreign exchange infrastructure. Authorities expect the expanded trading hours to encourage greater participation from global investors and improve liquidity in the local currency market.
The South Korean won has remained under heavy pressure this year, falling about 7.4% against the U.S. dollar and hovering near its weakest level in 17 years. The currency's decline contrasts sharply with the strong performance of domestic equities, with the benchmark KOSPI index climbing roughly 85% over the same period.
Huh's comments also follow reports that Japanese authorities are adopting a more unpredictable strategy to discourage speculative bets against the yen, which remains close to multi-decade lows versus the dollar. The shift has fueled speculation that regional policymakers are becoming increasingly coordinated in addressing excessive foreign exchange volatility.
Deputy Finance Minister Moon Ji-sung, who also attended the briefing, said South Korea continues to maintain active communication channels with both Japan and the United States on foreign exchange matters. He added that officials expect trading activity currently concentrated in the offshore non-deliverable forward (NDF) market to gradually migrate to the domestic spot market once extended trading hours take effect.
Moon said the government is reviewing additional measures to encourage that transition, with the goal of improving market efficiency, increasing onshore liquidity, and strengthening the competitiveness of South Korea's foreign exchange market. Authorities emphasized they remain committed to ensuring orderly trading conditions while closely monitoring currency movements amid ongoing global market uncertainty.
