According to Jinshi Data, ING Group predicts that the Korean won will fall 14% to 1472.50 against the US dollar in 2024 and may weaken further to 1500 in 2025.
Economist Min Joo Kang said a slowdown in the pace of interest rate cuts by the Federal Reserve and escalating trade tensions could add to pressure on the won to weaken. Political instability in South Korea and a widening gap in U.S. and South Korean bond yields are also factors.
She expects the pair to close at 1475 in the first quarter, 1500 in the second quarter, 1450 in the third quarter and 1425 in the fourth quarter.