exchange rate Archives | Be Korea-savvy
Kakao Takes Steps to Prevent Currency Arbitrage Opportunities

Kakao Takes Steps to Prevent Currency Arbitrage Opportunities

SEOUL, Jan. 6 (Korea Bizwire) – Local tech giant Kakao is set to provide preventive measures against purchases of mobile content – namely emoticons on its messaging app Kakao Talk – using low-value currencies.  According to the company, emoticon purchases using Egyptian Pounds soared last year following the sudden plummet in the currency’s value, allowing [...]

Hyundai Motor’s Market Cap Tumbles on Strike, Strong Won

Hyundai Motor’s Market Cap Tumbles on Strike, Strong Won

SEOUL, Oct. 10 (Korea Bizwire) – Hyundai Motor Co., South Korea’s top automaker, has recently seen its market value fall two notches to the No. 5 spot amid concerns over poor third-quarter earnings in the wake of a strike and a strong local currency.  The market capitalization of Hyundai Motor, the flagship of the country’s [...]

Strong Korean Won Hurting Korean Exporters

Strong Korean Won Hurting Korean Exporters

SEOUL, Aug. 9 (Korea Bizwire) – The Korean won has gained strength in recent months but not everyone is happy about the currency’s surge in value, especially Korean businesses that rely heavily on exports.  A recent report authored by senior researcher Lee Chang-sun at the LG Economic Research Institute noted that “the strengthening Korean won [...]

Weak Korean Won Benefits Export Businesses

Weak Korean Won Benefits Export Businesses

SEOUL, Aug. 1 (Korea Bizwire) – The American dollar has regained some strength in the second quarter, and according to industry analysts, companies producing chemicals and raw materials for the pharmaceutical industry were among those who reaped the most benefits from the dollar’s appreciation. Korea is a heavily export-reliant country with over 50 percent of [...]

Local Manufacturers Suffer from Rising Won Value, FKI Reports

Local Manufacturers Suffer from Rising Won Value, FKI Reports

SEOUL, May 13 (Korea Bizwire) – According to a recent survey by the Federation of Korean Industries, the ongoing appreciation of the Korean won is undermining the profitability of Korean exporters. The FKI survey on 120 large manufacturers in Korea revealed that the break-even exchange rate for local manufacturers was 1,052.30 won per the U.S. [...]