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South Korea Warns of Market Action as Won Drops 0.7% on Friday, Worst Performer in Asia

GateNews

2026-05-22 07:20:26

According to Jin10, on Friday, May 22, South Korea's finance ministry and central bank warned they would take "decisive action if necessary" to address excessive fluctuations in the Korean won. In a joint message to reporters, officials stated the won's recent weakness was "excessive relative to economic fundamentals." The currency fell 0.7% against the U.S. dollar on the day, marking Asia's worst-performing currency. The verbal intervention marks the first time South Korean authorities have publicly addressed the won's movements via direct messaging since December 2025.

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