Korean media: The US requests the Korean won to appreciate in recent currency negotiations.

According to a report from the Korean Economic Daily, the US has requested the South Korean won to appreciate in the recent exchange rate negotiations between the two countries. The report did not cite the source of the information. On July 31st, South Korean Finance Minister Koo Yun-cheol and US Treasury Secretary Bennet held their final trade talks, during which the exchange rate issue will once again be a topic of discussion. Market participants generally believe that the South Korean won is undervalued relative to the country's economic fundamentals; however, due to internal and external uncertainties being the main driving factors of the weak won, the South Korean government finds it difficult to propose clear measures to boost the currency during negotiations with the US. One potential bargaining chip is to change the frequency of disclosure of the Bank of Korea's quarterly intervention data from quarterly to monthly.