SEOUL, Oct. 11 (Korea Bizwire) — The overseas direct purchase market is cooling down rapidly as the South Korean currency fell sharply. Users point out that the spiking exchange rate is depriving them of the incentive to use direct foreign purchase services. An office worker surnamed Choi recently gave up on purchasing a US$202 bag from the [...]
SEOUL, Oct. 4 (Korea Bizwire) — With the Korean won plunging to record lows against the US dollar, discount store chains are scrambling to find ways to limit price increases for imported food products. Emart Inc. has been following changes in exchange rates in real-time, purchasing imported products with the exporting country’s currency. As a [...]
SEOUL, Aug. 31 (Korea Bizwire) — Exchange students in the U.S. and their parents are facing growing concerns as the won-dollar exchange rate continues to climb. “My parents used to send me 1.5 million won (US$1,120) every month as a living stipend last year. Now, with the higher exchange rate, they’re sending me another 300,000 [...]
SEOUL, March 29 (Korea Bizwire) – The South Korean currency is expected to strengthen further against the U.S. dollar for the time being on the Fed’s confirmation of its tight monetary policy and other factors, analysts said Wednesday. With the greenback remaining weak against major Asian monetary units, the local currency is highly likely to [...]
SEOUL, June 27 (Korea Bizwire) – Local investors are increasingly beginning to lean toward the U.S. dollar and other safer assets, such as short-term deposits, market data showed Monday, following Britain’s unprecedented vote to quit the European Union (EU) that has apparently left long-term commitments riskier, as well as unattractive, amid record low interest rates. [...]