The South Korean won weakened to around 1,384 per dollar on Tuesday after holding steady for two consecutive sessions, as risk sentiment deteriorated amid elevated uncertainty with ten days remaining until the August 1 tariff deadline. Finance Minister Koo Yun-cheol announced on July 22, that he and Trade Minister Yeo Han-koo will travel to Washington for a high-level “2+2” meeting with US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer. The talks, scheduled for Friday, are intended to address outstanding issues related to the proposed US tariff measures. Separately, First Vice Industry Minister Moon Shin-hak noted that efforts are ongoing to conclude the negotiations and mitigate risks to export-oriented sectors, which remain sensitive to external policy developments. However, the proximity of the deadline and the lack of concrete progress thus far have continued to exert downward pressure on the won.
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