FX.co ★ Won Steadies Amid Ongoing US–Korea Talks

The South Korean won remained steady around 1,427 per dollar on Tuesday, reflecting little change from the previous day's trading as markets carefully monitored recent communications from Seoul and Washington amidst ongoing trade discussions. After weeks with minimal advancement, the presidential office announced that the United States has officially responded to South Korea's revised submission concerning a $350 billion investment package linked to a proposed reduction in tariffs on Korean goods from 25% to 15%. The United States has introduced what it terms a "new alternative" proposal, indicating that technical dialogues are ongoing, although significant progress remains elusive. Concurrently, Seoul continues to advocate for financial safeguards, including the potential for a bilateral foreign exchange swap arrangement, to ensure stability and favorable conditions in managing the possible repercussions of significant capital flows.