Korea overhauls forex rules to stabilize won

The Korean government on Thursday rolled out a package of measures to overhaul its foreign exchange framework, aiming to correct structural supply-demand imbalances blamed for the won’s recent weakness. With the Korean won struggling to hold its value against the dollar, tumbling to its weakest in eight months on the prior day, the local authorities are deploying measures across multiple fronts to support the won. “In the past, when Korea was a net external debtor, we were focused on blocking do