South Korea: Will actively respond to excessive volatility in the forex market

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Southkorea News

USDKRW,Currencies

South Korean Foreign Minister Cho Tae-yul said on Wednesday, “they will actively respond to excessive volatility in the forex market.” Additional comments US President Biden expressed confidence in Korean democracy and support for the bilateral alliance in a recent phone call.

Will make every effort to bring diplomacy back to normal and rebuild trust. Mentioned plans regarding the North Korea nuclear issue will be prepared before the new US administration takes office. Communication with the Trump team has been affected by recent events and will make efforts to keep it smooth. Yoon's martial law attempt undercut political momentum for communication built with Trump. There are limitations with Yoon suspended from duty and it will take time to restore momentum.

Trump has raised prospects for the end of the Ukraine war but noted it would take a considerable amount of time until it happens. Expressed openness to any opportunities for negotiation with North Korea, including on the nuclear issue, and said they will be proactive. Announced they will devise a roadmap to prepare for Trump’s potential resumption of talks with North Korea. Expect China's Xi to attend next year’s APEC Summit in South Korea.

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