The South Korean won strengthened to around 1,371 per dollar on Friday, firming within recent mid-range levels. This followed the government’s approval of a KRW 30.5 trillion second supplementary budget on June 19, which includes KRW 20.2 trillion in new spending, devoted to cash handouts and public investment to boost consumption and support vulnerable sectors. Acting Finance Minister Lee Hyoung-il also pledged close oversight of FX markets, citing heightened volatility from US tariff uncertainties and Middle East tensions. Despite global pressures, the won found temporary support from proactive fiscal measures. However, currency volatility is expected to continue ahead of US–Korea tariff talks and shifting global interest rate expectations.
