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Photo = Yonhap news |
[Alpha Biz= Reporter Kim Sangjin] As the exchange rate between the Korean won and the U.S. dollar surges due to increasing domestic and global uncertainties, major financial groups are reviewing emergency management plans.
According to sources in the financial sector, the five major financial groups—KB, Shinhan, Hana, Woori, and NongHyup—have begun discussions on preparing emergency management plans in response to the rising exchange rates.
Originally, these financial groups had prepared their business plans for next year based on an exchange rate in the 1,300-won range. However, with the sudden shift in market conditions, it has become inevitable for them to revise their strategies.
The won/dollar exchange rate surged to the 1,430-won range earlier this month amid emergency martial law and climbed further to the 1,450-won range last week following the delay in expectations for a U.S. Federal Reserve rate cut.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
