Korean Won Traders Test Authorities’ Resolve After Bessent Rally

The South Korean won resumed its decline toward a 17‑year low on Thursday, testing officials’ resolve to stem the slide despite supportive remarks from US Treasury Secretary Scott Bessent.

The won slid as much as 0.7% to 1,473.40, erasing more than half of Wednesday’s gain after Bessent’s comments. The currency has been under pressure as local investors continue to snap up US stocks and importers sought dollars for payments.