South Korea expects won to reach 1400 per dollar level within two months

South Korean President lee jae myung announced on January 21, 2026, that government authorities expect the US Dollar / South Korean Won USDKRWto strengthen to approximately 1,400 per dollar within the next one to two months. Speaking at a press conference, the president signaled a firm official policy commitment to address the recent depreciation of the currency. Following the announcement, the won immediately appreciated 0.5% to 1,468.8 per dollar, as market participants reacted to the explicit guidance provided by the administration in KR.

The currency's rebound comes after it touched 1,481.4 per dollar earlier in the Wednesday trading session, marking its weakest level since December 24. Market observers noted that traders began to unwind long positions in the dollar immediately after the comments from lee jae myung. This shift reflects a direct response to the government's attempt to reverse the currency's slide toward 16-year lows, a movement that authorities have previously stated was not in line with the nation's economic fundamentals.