FX.co ★ South Korean Won on Slips on Stalled US trade talks

The South Korean won weakened to approximately 1,408 per dollar on Friday, marking its second consecutive decline as investors became wary due to stalled trade negotiations with the United States. On Thursday, the presidential office confirmed that Seoul had submitted a revised trade proposal but was still awaiting a response from the US, heightening market uncertainty. Kim Yong-beom, the policy chief, noted that the updated memorandum includes a request for a currency swap line to mitigate potential capital outflows and foreign exchange volatility. Originally, in July, the framework outlined $350 billion in US investments in exchange for reduced tariffs on South Korean goods and automobiles. However, discussions have stalled regarding the implementation and financing of this agreement.