Why the World-Beating Won Is Likely to Escape Intervention

President Moon may prefer a stronger won to aid reform agenda
Trump’s demand for fairer trade terms may inhibit intervention

An employee arranges genuine bundles of South Korean 50,000 won banknotes for a photograph at the Counterfeit Notes Response Center of KEB Hana Bank in Seoul, South Korea, on Monday, Aug. 14, 2017. The won advanced for the first day in four as top U.S. national security officials sought to damp down talk of am imminent war with North Korea following days of heightened rhetoric.Photographer: SeongJoon Cho/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Hooyeon Kim

November 27, 2017 at 11:00 PM UTC

Updated on

November 28, 2017 at 3:35 AM UTC

This article is for subscribers only.

Won bears looking for the government to stop the currency strengthening may be in for a long wait.

Intervention may be deemed fruitless ahead of Bank of Korea’s first interest-rate increase since 2011, while President Moon Jae-in’s administration is seen as favoring a stronger currency, analysts said. This may explain the muted government reaction as the won surged to its strongest level since May 2015 last week.