Korean Ministry of Finance: Chip Makers and Shipbuilders Are Aggressively Selling Dollars in the Forward Market

Odaily Planet Daily reported that the Korean Ministry of Finance stated on Tuesday that the foreign exchange market conditions in South Korea are improving as major chip and shipbuilding companies begin to sell large amounts of 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 Korean won strengthened by 0.75% against the US dollar to 1486.30, its highest level since May 12. (Jin Shi)