South Korea's Economic Forecast: Won to Gain Strength

South Korean President Lee Jae Myung predicts the won to strengthen to approximately 1,400 per dollar in a month or two. While acknowledging that domestic policies alone cannot stabilize foreign exchange markets, he affirmed the government's commitment to implementing market-stabilizing measures amidst the won's 17-year low against the dollar.

South Korea's financial outlook suggests a strengthening of the won, the nation's currency, with projections indicating it could reach around 1,400 per dollar within a month or two. However, President Lee Jae Myung emphasized that domestic strategies alone will not be sufficient to stabilize foreign exchange markets.

Speaking at a press conference, President Lee Jae Myung reiterated the government's dedication to deploying market-stabilizing measures. This assurance comes amid the won hovering persistently around 17-year lows against the US dollar.

The South Korean administration is focused on economic strategies to bolster the currency's value, while financial experts closely monitor the exchange rate fluctuations and their wider impacts on the national economy.

(With inputs from agencies.)