USD-KRW Exchange Rate Surges to 1234 Won Amid Reports of North Korea's Kim Jong-un in Critical Condition
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[Asia Economy Reporter Kim Eun-byeol] As news spread that North Korean Supreme Leader Kim Jong-un had fallen into a critical condition, the KRW-USD exchange rate turned to a sharp rise on the 21st.
At 10:53 a.m. in the Seoul foreign exchange market that day, the KRW-USD exchange rate was trading at 1,234.76 won, about 14 won higher than the previous day.
The exchange rate opened at 1,222.0 won, up 1.5 won, and showed a slight upward trend in the early session. Although risk aversion increased due to the international oil price plunging into negative territory, the rise in the exchange rate was limited.
However, from around 10:40 a.m., when news spread that Chairman Kim had fallen into a critical condition after surgery, the exchange rate began to surge sharply.
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U.S. CNN reported, citing a source familiar with the matter, that the U.S. government is closely monitoring information that Chairman Kim is in a serious condition following surgery.
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