{
  "id": 17009080,
  "title": "Exclusive-Bank of Korea board member says won moves faster than expected",
  "url": "https://urgent.news/2026/10/29/exclusive-bank-of-korea-board-member-says-won-moves-faster-than",
  "topic": "world",
  "section": "World",
  "published": "2026-10-29T04:33:42.000Z",
  "source": {
    "name": "Channel News Asia",
    "slug": "channel-news-asia",
    "url": "https://www.channelnewsasia.com/business/exclusive-bank-korea-board-member-says-won-moves-faster-expected-6502366"
  },
  "original_language": "en",
  "account": "Bank of Korea board member Hwang Kunil has cautioned that the won's recent strong performance has moved faster than anticipated. Speaking to Reuters, he emphasized the importance of monitoring both the volatility and speed of the currency's movements, rather than focusing solely on its level.\n\nHwang, who is considered one of the more dovish members of the seven-member central bank board, pointed out that the won's recent gains were driven by a surge in dollar inflows from the global artificial intelligence sector. This has fueled demand for specialized memory chips from leading Korean chipmakers, such as SK Hynix and Samsung Electronics.\n\nDespite the recent appreciation, Hwang maintained that downward pressure on the exchange rate remains valid once the massive current account surplus and foreign investment rebalancing are factored in. He noted that the BOK had kept interest rates steady at 3.00% this month, despite back-to-back hikes in July and August, due to concerns about inflation risks stemming from energy prices and an ongoing economic recovery.\n\nWhile Hwang expects exports to remain strong in the near term, he expressed concern that the benefits of the economic boom have not been evenly distributed. He highlighted that private consumption is recovering at a slower pace, and small and medium-sized enterprises continue to struggle with high delinquency rates and weak domestic demand. Hwang stressed that the positives are limited to certain groups, while high rates and prices impact everyone.\n\nRegarding corporate financing for smaller businesses, Hwang expressed caution about the underlying quality of such financing. He noted that delinquency rates for these companies are rising, and much of their borrowing is being used to cover immediate operating costs, such as wages and raw materials, rather than supporting capital investments.\n\nWhen asked about the potential impact of a slowdown in global AI spending on export-led growth, Hwang suggested that the current-account surplus could be revised upward to nearly $500 billion, up from the BOK's August forecast of $450 billion. However, he acknowledged that even a shortfall of $50 billion would be significant, as previously projected by the BOK.",
  "summary": null,
  "key_points": [
    "Bank of Korea board member Hwang Kunil says won's gains moved faster than expected",
    "Dollar inflows from AI sector drove won's recent appreciation",
    "Hwang expects strong exports but warns uneven benefits distribution"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Investing.com",
        "title": "Exclusive-Bank of Korea board member says won moves faster than expected",
        "url": "https://urgent.news/2026/10/29/exclusive-bank-of-korea-board-member-says-won-moves-faster-than-17011377",
        "published": "2026-10-29T04:54:19.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}