FX.co ★ Won Rises on Seoul–Washington Tariff Deal

On Thursday, the South Korean won strengthened to approximately 1,421 per dollar, marking its highest point in two weeks. This rise was fueled by increasing market optimism after the completion of the Seoul-Washington tariff agreement. Presidential Chief of Staff for Policy, Kim Yong-beom, stated that the investment plan includes $200 billion in cash installments and a $150 billion commitment to collaboration in the shipbuilding sector, with an annual limit of $20 billion. According to the finalized agreement, the United States will retain its reciprocal duties but reduce tariffs on Korean automobiles and auto parts from 25% to 15%, thereby keeping Korean exporters competitive in the American market. Additionally, diplomatic discussions contributed positively to the market sentiment. President Lee Jae Myung was set to engage in summit talks with Canadian Prime Minister Mark Carney on Thursday, focusing on economic, security, and technological partnerships.