| View previous topic :: View next topic |
| Author |
Message |
GENO123
Joined: 28 Jan 2010
|
 Posted: Mon Jun 29, 2015 7:37 pm Post subject: Korea Slowed Even Before MERS, Wants A Weaker Won |
 |
|
| Quote: |
Korea blames a lot of the export weakness on the strength of the won. In the last year, the won appreciated over 8% against the yen, as the Bank of Japan continued with its unprecedented quantitative easing program.
Yesterday, the Korean government unveiled a series of new measures to cool down the won. The new “Foreign Equities Investment Fund” encourages Korean households to trade overseas assets and gives a taxation waiver for 10 years. Meanwhile, insurance companies can invest in more overseas investments than the current 30% total asset cap. The Korean government expects these measures to result in $15 billion of foreign exchanges outflow every year.
“This was motivated primarily by concerns of Korean policymakers over the relative strength of KRW against its major trading partner currencies, as the current account surplus is expected to hit a record high this year,” wrote Nomura Securities‘s Young Sun Kwon.[/quote
|
http://blogs.barrons.com/asiastocks/2015/06/29/korea-slowed-even-before-mers-wants-a-weaken-won/?mod=BOL_hp_blog_astw |
|
| Back to top |
|
 |
Chaparrastique
Joined: 01 Jan 2014
|
| Posted: Mon Jun 29, 2015 10:11 pm Post subject: |
|
|
| Cash in your chips now gentlemen... |
|
| Back to top |
|
|
Weigookin74
Joined: 26 Oct 2009
|
| Posted: Thu Jul 02, 2015 5:39 am Post subject: |
|
|
| Just sent home my renewal allowance. Dang office being a few weeks late with that. Got over 2200 bucks. Watching that student loan finally be on the verge of disappearing. |
|
| Back to top |
|
|
Nicknackpattywack
Joined: 11 May 2014
|
| Posted: Thu Jul 02, 2015 9:11 pm Post subject: |
|
|
Here's to hoping that the won will be stronger in the months to come.. Or am I just being selfish  |
|
| Back to top |
|
|
Weigookin74
Joined: 26 Oct 2009
|
| Posted: Thu Jul 02, 2015 10:00 pm Post subject: |
|
|
| Goonews. Just read the Canadian economy will go into recession this year or some parts of it will. The dollar will drop to 70 cents US. That means for all of Korea's scummy games, we'll still get our dollars out of them. |
|
| Back to top |
|
|
wooden nickels
Joined: 23 May 2010
|
| Posted: Thu Jul 02, 2015 11:45 pm Post subject: |
|
|
| Weigookin74 wrote: |
| Goonews. Just read the Canadian economy will go into recession this year or some parts of it will. The dollar will drop to 70 cents US. That means for all of Korea's scummy games, we'll still get our dollars out of them. |
That will be great for you Canucks. Glad to hear it.
I keep reading that the US is coming out of the recession and there are more new jobs. Maybe the economy will pick up. |
|
| Back to top |
|
|
motiontodismiss
Joined: 18 Dec 2011
|
| Posted: Sat Jul 04, 2015 8:04 pm Post subject: |
|
|
The strong won is the last of this country's problems.....it has too many people, no resources, and exports declining because the products being exported are not competitive, not because the won is too strong.
Strong won at 1,100/USD....give me a break. Samsung had didn't go under at 900/USD. They'll be fine at 1,100/USD just as they were fine at 900/USD.
MERS, Sewol, and the weak Yen are just convenient excuses. |
|
| Back to top |
|
|
wooden nickels
Joined: 23 May 2010
|
| Posted: Sun Jul 05, 2015 3:15 am Post subject: |
|
|
| motiontodismiss wrote: |
The strong won is the last of this country's problems.....it has too many people, no resources, and exports declining because the products being exported are not competitive, not because the won is too strong.
Strong won at 1,100/USD....give me a break. Samsung had didn't go under at 900/USD. They'll be fine at 1,100/USD just as they were fine at 900/USD.
MERS, Sewol, and the weak Yen are just convenient excuses. |
Recently I've thought a lot about the economic situation here. I tend to agree with you. |
|
| Back to top |
|
|
GENO123
Joined: 28 Jan 2010
|
| Posted: Tue Jul 07, 2015 7:22 pm Post subject: |
|
|
| The Won keeps falling |
|
| Back to top |
|
|
Weigookin74
Joined: 26 Oct 2009
|
| Posted: Tue Jul 07, 2015 7:46 pm Post subject: |
|
|
| wooden nickels wrote: |
| Weigookin74 wrote: |
| Goonews. Just read the Canadian economy will go into recession this year or some parts of it will. The dollar will drop to 70 cents US. That means for all of Korea's scummy games, we'll still get our dollars out of them. |
That will be great for you Canucks. Glad to hear it.
I keep reading that the US is coming out of the recession and there are more new jobs. Maybe the economy will pick up. |
I hope so. Great for you too at least over there. Maybe good if young folks can find more jobs at home too. |
|
| Back to top |
|
|
Weigookin74
Joined: 26 Oct 2009
|
| Posted: Tue Jul 07, 2015 7:50 pm Post subject: |
|
|
| GENO123 wrote: |
| The Won keeps falling |
Shame Korea keeps pushing it down. It was rising through 2014 for both the US and Canada. Then, at the end of last eyar and through this eyar it fell again. Only difference is the Canadian dollar fell harder and we got a bigger boost. Thanks dropping oil. But, you obviously know Korea is manipulating their currency. They really have pushed it back down. Of course, they shouldn't be doing this. No one in the west criticizes the manipulation of currencies and when they do, they get flamed. IE Donald Trump. (But, that's another story for another forum.) |
|
| Back to top |
|
|
Fallacy
Joined: 29 Jun 2015
Location: ex-ROK
|
| Posted: Thu Jul 09, 2015 2:14 am Post subject: |
|
|
While the elected and appointed ROK government officials, including the cental BOK, may indeed say in public that they want a weaker KRW and take certain follow-up actions to that effect, manipulating the currency exchange markets is not easy. There are just too many different players, and getting many or all of them on the same side at the same time, whether buying or selling, is difficult to achieve. Concerted efforts are certainly made, but outward bound flows of money are the culprit for any currency weakening. There are a variety of factors both domestic and international which are negatively affecting the won, and just about all of them are entirely beyond the control of any Korean government policy.
Ironically, if you want to do your part to prop up the won, then stop selling it: every time any of us "cashes in" KRW for a different denomination, we contribute to the downward pressure. |
|
| Back to top |
|
|
GENO123
Joined: 28 Jan 2010
|
| Posted: Fri Jul 10, 2015 3:32 pm Post subject: |
|
|
The Won is going in the same direction as the yen. To the underworld.
http://seekingalpha.com/article/3098486-why-the-korean-won-could-fall
| Quote: |
Summary
Economic growth in South Korea continues to slow.
Moreover, retail spending and inflation measures are similarly declining.
With lending rates likely remaining low due to its economic weakness, the U.S. dollar should gain against the won in coming months. |
|
|
| Back to top |
|
|
GENO123
Joined: 28 Jan 2010
|
| Posted: Mon Jul 20, 2015 5:40 am Post subject: |
|
|
| The won keeps falling. |
|
| Back to top |
|
|
Yaya
Joined: 25 Feb 2003
Location: Seoul
|
| Posted: Mon Jul 20, 2015 7:52 pm Post subject: |
|
|
Hwang Woo-seok's stem cell "breakthrough" was supposed to usher in a new age of growth for Korea, but well, that didn't turn out too well.
Seems Asian growth is falling across the board save a few emerging economies.
Tough times indeed. |
|
| Back to top |
|
|
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
