Korean Ministry of Finance: South Korean chipmakers and shipbuilding companies are selling large amounts of USD in the forward market

Odaily Odaily Planet Daily reported that the Korean Ministry of Finance stated on Tuesday that the foreign exchange market in South Korea is improving as major chip and shipbuilding companies have begun selling large amounts of US dollars in the forward market. The ministry said in a statement: "Based on strong fundamentals such as record trade surpluses, the foreign exchange market is expected to undergo structural changes in supply and demand conditions in the second half of the year." On Tuesday, the South Korean won rose 0.75% against the US dollar to 1486.30, hitting its highest level since May 12. (Jinshi)