South Korea Is Pulling Out All Stops to Try to Prop Up Won

In South Korea, calls for action to stem the won’s decline are getting louder by the day.

On Thursday, the finance ministry warned of increased volatility and said it would take swift measures if needed, while the government eased FX rules to boost onshore dollar liquidity. Presidential policy chief Kim Yong-beom is set to hold an emergency meeting with seven conglomerates to discuss FX issues, Korea Economic Daily reported, citing people in the presidential office it didn’t identify.