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[1/2] A South Korea won note is seen in this illustration photo May 31, 2017. South Korean companies repatriated a record $33.13 billion of overseas earnings during the January-July period, 6.3 times the amount a year earlier, central bank data on current account balances showed. "The coming home of earnings retained abroad has been a big help for the won," a government official in charge of foreign exchange market said, asking not to be named due to internal policy. The automaker said on June 12 it plans to invest 7.8 trillion won ($5.82 billion) of retained earnings from overseas operations this year in electric car factories at home. The surge in repatriation also comes ahead of trading reforms planned for next year, when South Korea will extend onshore trading hours until 2 a.m. to improve access for foreign investors.

Persons: Thomas White, Yoon Suk, Hong Sung, kook, Min Gyeong, 1,340.7400, Jihoon Lee, Cynthia Kim, Joyce Lee, Heekyong Yang, Vidya Ranganathan Organizations: South, REUTERS, Rights, Samsung Electronics, Hyundai Motor, Kia Corp, Reuters Graphics Bank of Korea, Woori Bank, Hyundai, Hyundai Motor Group, Shinhan Bank, Yena, Thomson Locations: South Korea, Rights SEOUL, Korea

[1/2] Kim Tae-hyun, Chairman & CEO of South Korea's National Pension Service, speaks during an interview with Reuters in Seoul, South Korea, March 3, 2023. National Pension Service/Handout via REUTERSSEOUL, March 6 (Reuters) - South Korea's National Pension Service (NPS), manager of the world's third-largest public pension fund, will collaborate with foreign exchange authorities when needed to help stabilise the market, its chairman told Reuters. "Based on last year's experience, we have prepared measures aimed at easing dollar demand and volatility in the foreign exchange market," Kim said. "A predictable and stable foreign exchange rate is also advantageous to us," he said, adding that cooperation with foreign exchange authorities would be based on achieving good investment returns. With the fund expected to be depleted by 2055, his top priority is to provide support for the government's plan to reform the national pension system, he said.

[1/3] South Korea's 1st Vice Minister of Economy and Finance Bang Ki-sun speaks during an interview in Seoul, South Korea, February 9, 2023. The Ministry of Economy and Finance/Handout via REUTERSSEOUL, Feb 9 (Reuters) - South Korea's plans to loosen restrictions in its currency market will raise the won's status globally and boost business opportunities for local financial firms, a vice finance minister told Reuters on Thursday. South Korea's economy contracted in the December quarter but Bang said the most recent information indicated it would return to growth in the January-March period, without providing specific data. House prices in South Korea fell 1.98% in December from a month earlier, the fastest drop since data releases began in late 2003 and a seventh consecutive month of decline. The comment contrasted with a long practice of South Korean authorities expressing their concerns about the adverse effect on price competitiveness of their export goods abroad.

SEOUL, Feb 9 (Reuters) - South Korea's plans to loosen restrictions in its currency market will raise the won's global status and, as a result, boost business opportunities for local financial firms, a vice finance minister told Reuters on Thursday. Vice Minister Bang Ki-sun said the government was working on follow-up measures with the aim of implementing the plans in July next year, while dismissing concerns about the won facing a loss of stability. The new measures call for more than doubling the trading hours on the won until past midnight local time and allowing qualified global financial firms to directly trade the currency through two onshore spot brokerage houses. South Korea's economy suffered a contraction in the December quarter and Bang said the most recent information indicated it would return to growth in the January-March period, without providing specific data. Reporting by Choonsik Yoo and Yena Park; Additional reporting by Jihoon Lee; Editing by Lincoln Feast.

☆ S.Korean won falls through key level after Fed hike
▼ + stars: | 2022-09-21 | by ( Choonsik Yoo | ) www.reuters.com time to read: +2 min

A South Korea won note is seen in this illustration photo May 31, 2017. The won fell as much as 0.9% to 1,406.8 per dollar in early onshore trading, marking the first time it crossed the 1,400-won mark since late March 2009. Both the finance ministry and the central bank separately issued warnings that they would act against excessive movements in the foreign exchange market. "The authorities will introduce various measures aimed at easing a supply-demand imbalance for foreign currencies from the pension fund and foreign trading companies," Minister Choo Kyung-ho said at a meeting of senior officials. Both the Bank of Korea and the National Pension Service declined to comment on the reports.

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