South Korean Won Stabilizes
Sigourney FitzpatrickThe South Korean won stabilized around 1,470 per dollar on Tuesday, pausing a sharp two-day slide as sentiment improved after US President Donald Trump signaled openness to tariff talks with other countries, including South Korea.
Trump recently announced a 25% reciprocal tariff on South Korea and a 46% levy on Vietnam, a country where major South Korean corporations have significant manufacturing operations.
In response, South Korea's trade minister, Cheong In-kyo, stated on Tuesday that the government was exploring a range of measures to boost imports from the US, including increasing LNG imports, as he traveled to Washington for talks on US tariffs.
On the political front, South Korea has tentatively set the presidential election for June 3, after President Yoon Suk Yeol was ousted last week due to his brief declaration of martial law.
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