Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Won Snaps Two-Day Fall as Shipbuilders Win Contracts; Bonds Drop

South Korea’s won snapped a two-day decline after shipbuilders won orders and before the Federal Reserve releases minutes of its July meeting that may offer clues on its stimulus-tapering plans. Government bonds fell.

Samsung Heavy Industries Co. received a 441.6 billion won ($395 million) order for two ships yesterday and Hyundai Mipo Dockyard Co. today said it got a 148.4 billion won contract for four vessels, according to regulatory filings. South Korea will act swiftly if financial-market volatility rises, the finance ministry said in a statement. The Federal Open Market Committee will publish the minutes today.

“News on shipbuilders’ overseas deals may support the currency while investors are in wait-and-see mode in general before the FOMC minutes release,” said Choi Sung Hyun, a currency trader at Woori Bank in Seoul.

The won rose 0.3 percent to 1,117.3 per dollar in Seoul, according to data compiled by Bloomberg. One-month implied volatility, a measure of expected moves in the exchange rate used to price options, gained six basis points, or 0.06 percentage point, to 7.86 percent.

South Korea’s short-term external debt was $119.6 billion at the end of June, $2.6 billion lower than in the previous quarter, the Bank of Korea said in a statement today.

The nation’s current account surplus and lower ratio of short-term external debt to foreign reserves imply decreased external funding vulnerability, Kwon Young Sun, a Hong Kong-based economist at Nomura Holdings Inc., wrote in a research note today. Korea’s current-account surplus was $7.24 billion in June, according to central bank data, after a record $8.64 billion in May.

The yield on the 2.75 percent government bonds due June 2016 climbed three basis points to 2.97 percent, Korea Exchange Inc. prices show.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.