Korea Readies On-Site FX Inspections to Curb Won Speculation

South Korea's finance ministry announced on March 18, 2024, that regulators will conduct on-site inspections and investigations into suspected foreign-exchange market-disruptive activities to curb won speculation. This initiative aims to address volatility in the currency market, which has seen significant fluctuations. The inspections will target entities suspected of engaging in speculative trading that could destabilize the won. The government has expressed concerns over the impact of such activities on the national economy and financial stability. This move signifies a more aggressive stance by South Korean authorities to maintain order in its foreign-exchange markets and protect the value of its currency.