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After Bloomberg published an article warning of further erosion of Asian assets, Bank of Korea Governor Chang-yong Lee said in an interview with Bloomberg TV that “there is no exchange rate target,” and the won depreciated significantly. "Asia assets are leaning towards hawkish at the Jackson Hole Symposium following the Fed, and investors are seeking refuge," Bloomberg said. It warns of the lon..

The KRW/USD rate rose 9.2% in January and the consumer price rose 3.6% YoY, 2.5 times higher, suggesting a 4% rise in February prices. The U.S. trade deficit rose 26.9% year-on-year in January to a record $859.1 billion. Korea's import surge is expected to increase inflation and trade deficits due to economic stimulus strengthening policies, as imports of crude oil, gas and coal in January of $1..