The South Korean won held around 1,390 per dollar on Thursday, lingering at over ten-week lows after Seoul and Washington finalized a trade agreement. The deal imposes a 15% blanket tariff on South Korean exports to the US, well below the 25% rate previously threatened by President Donald Trump earlier this month. Trump also announced that South Korea will invest $350 billion into the US, though President Lee Jae-myung clarified the funds are aimed at supporting Korean firms expanding into the American market. The ruling Democratic Party welcomed the agreement, citing reduced tariff pressure, while the opposition People Power Party raised concerns over the potential economic burden tied to South Korea’s commitments. Externally, the won remained under pressure after the US dollar rallied following the Federal Reserve’s decision to hold interest rates steady while offering little clarity on future rate cuts.
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