USD/KRW Exchange Rate Hits 1,470 Won, KOSPI Reaches New Highs, Japan-South Korea Summit Emphasizes Economic Cooperation

USD to KRW Exchange Rate Surpasses 1,470 Won Again

The USD/KRW exchange rate climbed past 1,470 won during trading, showing increased volatility. Foreign investors selling Korean stocks and rising demand for foreign currency exchanges have pushed the rate higher.[2]

As of 2:10 PM on the 13th, the exchange rate remains around the 1,470 won mark. Additionally, an increase in corporate foreign bond issuance is expected to influence the exchange rate further.[2]

KOSPI Hits 4,693 Points, Reaching New Intraday High

The KOSPI index surged by nearly 88.5% over the past year, hitting an intraday high of 4,693.07 points. However, individual stocks showed mixed performance.[3]

Game developer ShiftUp’s stock fell for the seventh straight trading day, hitting a record low. Concerns over downward revisions to this year's earnings forecasts are weighing heavily on its stock price.[3]

• ShiftUp closing price: $25.50 (down 0.15% from the previous day)
• Market cap: approximately $14.7 billion
• KOSPI 1-year gain: 88.5%

South Korea and Japan Hold Summit, Agree to Strengthen Economic Ties

President Lee Jae-myung met with Prime Minister Takaichi Sanae in Nara Prefecture, Japan, for a summit. Both countries agreed to expand economic cooperation and collaborate on regional growth issues.[4]

They also plan to kick off practical discussions in advanced fields like artificial intelligence and intellectual property protection. This marks a step toward boosting economic security and future industrial competitiveness.[4]

Exports Drop 2.3% in Early January, Semiconductor Exports Rise

Between January 1 and 10, Korea’s exports totaled $15.6 billion, down 2.3% compared to the same period last year. While semiconductor exports increased by 40%, auto exports fell by 25%.[2]

The daily average export value rose by 4.7%, signaling signs of recovery. About one-third of Korea’s trade surplus is generated from overseas investments.[2]

Interest Rate Cuts Unlikely, Most Experts Remain Skeptical

Six out of ten economic analysts expect Korea’s central bank to hold interest rates steady this year, with growth projected to recover to around 1.8%, close to the country’s potential growth rate.[2]

Major newspapers like Maekyung highlight topics such as wage hikes, the Korea-Japan summit, and efforts to reduce tax delinquencies as key economic themes.[1]