The South Korean won held steady at around 1,378 per dollar on Wednesday, remaining near last week’s lows amid muted movement in the US dollar index. The won’s stability followed the departure of Industry Minister Kim Jung-kwan on Wednesday as he joins fellow South Korean officials already in the US for talks with the Trump administration figures ahead of the August 1 deadline.
South Korea has been engaged in negotiations with the US for months to secure relief or reduction from the planned 25% reciprocal tariffs, as well as sectoral levies affecting steel and automobile exports. Adding to the momentum, the Bank of Korea reported that the Composite Consumer Sentiment Index rose 2.1 points to 110.8 in July, the highest since January 2018. The gain was driven by the administration’s pro-growth initiatives, including a 31.8 trillion-won supplementary budget approved on July 4, stronger consumer spending, and a rebound in semiconductor exports.
