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Finance

Won-dollar rate surges to 1,560, raising market jitters

South Korea\'s won-dollar exchange rate jumped to the 1,560 level, its highest since the financial crisis, stoking anxiety in currency markets. A surge cooled after authorities’ verbal intervention and the National Pension Service resumed currency hedging, but caution over U.S. monetary policy, Middle East uncertainty, foreign selling of local stocks and offshore NDF trading continue to weigh on the won. Analysts said the near-term ceiling may be limited, though volatility could persist.

Industry

March ICT exports top $40 billion for first time, driven by AI and semiconductors

South Korea’s information and communications technology exports rose 112 percent in March from a year earlier to $43.51 billion, while imports increased 32.2 percent to $16.15 billion, producing a trade surplus of $27.36 billion. The Ministry of Science and ICT and the Ministry of Trade, Industry and Energy said ICT exports exceeded $40 billion for the first time and extended gains for a 14th straight month, accounting for 50.5 percent of total exports.

Industry

Trump launches Section 301 probe into 16 economies, cites evidence of overcapacity in South Korea

The Trump administration has opened a Trade Act Section 301 investigation into 16 economies including South Korea, citing unfair trade practices linked to overcapacity and goods made with forced labor. USTR said targeted economies sustained U.S. trade surpluses through intentional overproduction. It cited South Korea’s trade swing from a $10 billion deficit in 2023 to a $52 billion surplus in 2024. The probe will take comments, hold a hearing and then decide possible measures.