Mun Ji-sung, the Ministry of Strategy and Finance's international economic management officer (international vice minister), said on the 12th that "in the second half of this year, the (won-dollar exchange rate) supply and demand are expected to gradually change as they reflect Korea's fundamentals, such as an increase in the current account surplus."
Mun, the international economic management officer, said in a phone call with Yonhap News Agency that "the current exchange rate is deviating from the fundamentals," and stated accordingly. Considering the fundamentals, including Korea's high economic growth rate, it is interpreted to mean the exchange rate could fall further. The rate has recently dropped from the 1,530-won range to around 1,500 won.
Mun, the international economic management officer, saw the listing of SK hynix's American depositary receipts (ADR) as likely to help stabilize the exchange rate. If foreigners can trade SK hynix shares on the New York Stock Exchange, there is an effect of dollars flowing into the Seoul foreign exchange market. SK hynix issued ADRs on the 10th and raised $26.5 billion.