On the 21st, the won-dollar exchange rate against the U.S. dollar closed weekly transactions (9 a.m.–3:30 p.m.) at 1,471.3 won, down 6.8 won from the previous day. As President Lee Jae-myung noted that the exchange rate would soon show the 1,400-won level, the won-dollar rate ended lower for the first time in four trading days.
That day in the Seoul foreign exchange market, the won-dollar exchange rate opened at 1,480.4 won, up 2.3 won from the previous day. As the United States and Europe clashed, saying they would impose tariffs on each other over Greenland, the value of the won, classified as a risk asset compared with the U.S. dollar, fell (a rise in the won-dollar rate). Lim Hwan-yeol, a Woori Bank researcher, said, "Factors that can worsen investor sentiment globally are highly likely to have a negative impact on the won."
The won-dollar rate, which broke through 1,480 won right after the open, reversed course with the president's New Year news conference. At the news conference held at the state guesthouse in Cheong Wa Dae from 10 a.m. that day, the president was asked about the high exchange rate and said, "According to the relevant responsible authorities, in about a month or two, (the won-dollar rate) will fall to around 1,400 won."
At 10:21 a.m., immediately after the president's remarks, the won-dollar rate turned lower. It then dropped more than 10 won intraday, falling to as low as 1,468 won. However, it pared losses before the close and finished transactions in the 1,470-won range.