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Bessent says Korea’s weak won does not align with its fundamentals

Published: 15 Jan. 2026, 00:13 Updated: 15 Jan. 2026, 08:15

JIN MIN-JI
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Korea's Finance Minister Koo Yun-cheol, right, and U.S. Treasury Secretary Scott Bessent shake hands at a ministerial meeting held in Washington on Jan. 12. [MINISTRY OF ECONOMY AND FINANCE]

U.S. Treasury Secretary Scott Bessent said that the recent depreciation of Korea's won is not in line with its strong economic fundamentals in a ministerial meeting with Seoul’s Finance Minister Koo Yun-cheol in Washington this week, according to the Treasury Department on Wednesday.

“On Monday, I met with South Korean Deputy Prime Minister Koo Yun-cheol to discuss the critical minerals ministerial meeting and ongoing market developments in Korea, including the recent depreciation of the Korean won, which is not in line with Korea’s strong economic fundamentals,” Bessent wrote on social media.

“Korea’s impressive economic performance, especially in key industries that support America’s economy, makes it a critical partner for us in Asia,” he added, while emphasizing that excess volatility in the foreign exchange market is undesirable.

Koo and Bessent attended the Finance Ministerial Meeting on Securing Critical Minerals Supply Chains on Monday, where finance ministers discussed efforts to secure supply chains for critical minerals.

BY JIN MIN-JI [[email protected][