SEOUL
The South Korean won has plummeted nearly 6% against the US dollar this year, according to recent data. This dramatic currency slide comes as anxious foreign investors aggressively dumped more than 156 trillion won, roughly $102.3 billion, worth of domestic stocks. Financial experts note that the average exchange rate reached near-record highs during the first half of the year, tracking close to levels seen during the historic 1998 Asian financial crisis. The massive sell-off has driven up demand for safe-haven US dollars, leaving local financial markets facing a turbulent period of economic uncertainty.
