The South Korean won strengthened to around 1,382 per dollar on Wednesday, recovering losses from the previous session as the US dollar softened amid renewed concerns over a potential Fed rate cut in September. Sentiment was also supported by Seoul’s diplomatic push, with high-level trade talks between South Korean officials and US Commerce Secretary Howard Lutnick in Washington aimed at averting the looming US tariffs on Korean exports. Finance Minister Koo Yun-cheol is also set to meet US Treasury Secretary Scott Bessent, with talks reportedly including a major shipbuilding investment plan. Meanwhile, Samsung Chairman Lee Jae-yong’s unexpected US visit has fueled optimism. Lee could possibly reinforce Korea’s value as a strategic tech partner by highlighting a $37 billion chip investment plan and a $16.5 billion AI chip deal with Tesla, as trade tensions remain high ahead of Friday’s tariff deadline. The visit is seen as supportive of investor confidence in Korea’s export outlook.
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