Overview

• The won closed near 1,400.6 per dollar on Thursday, marking its weakest daytime finish in nearly two months.
• Foreign investors flipped to net sellers, unloading about 503 billion won of equities on Wednesday after months of buying.
• President Lee Jae Myung said Korea would need a U.S. currency swap if it accepts the $350 billion investment demand, and he and Finance Minister Koo met Treasury Secretary Scott Bessent at the UNGA to discuss the safeguard.
• Analysts estimate direct cash transfers under the package could require roughly $100–120 billion in new dollar demand each year and could push the won toward about 1,450 without protections.
• Negotiations remain deadlocked over the fund’s structure, with failure risking U.S. tariffs on Korean imports rising to 25% rather than the 15% level in the provisional deal.