The Governor of the Bank of Korea defended its foreign exchange intervention, stating it is to prevent the depreciation of the South Korean won.

Bank of Korea Governor Lee Ju-yeol defended its foreign exchange intervention, stating that it was to prevent currency depreciation. He also mentioned that the exchange rate of the Korean won was part of negotiations with the U.S. government, leading to the strengthening of the won. After the Bank of Korea decided to maintain the current interest rate, Lee Ju-yeol's speech at a press conference caused an accelerated increase in the exchange rate of the Korean won against the U.S. dollar. He stated that the U.S. may see Korea's intervention efforts as "acceptable" and added that the U.S. Treasury Department is holding foreign exchange discussions with several Asian countries including Korea. His comments added a backdrop to market speculation that the Trump administration is seeking dollar depreciation as part of trade negotiations. In July of this year, it was reported by Korean media that the U.S. urged Korea to appreciate its currency, leading to a significant appreciation of the Korean won.