Why is Korean won so cheap? Despite a highly unusual intervention by the Bank of Korea last week, the South Korean won continued to be weak on Wednesday after recording an annual low of 1,190 won to the dollar on Tuesday. The won is weakening due to factors beyond the control of Korea, a highly trade-dependent economy. Why is the Korean won dropping? South Korea’s local currency has dropped by five percent in one month and may further decline amid a trade war between the United States and China. The won’s sharp decline was largely attributed to the intensifying trade tension between the world’s two largest economies and Japan’s trade restrictions. Is 1000 won a lot in Korea? As a South Korean, there’re almost nothing you can buy with 1,000 won. Even very cheap juice in the market costs over 1,000 won, normally at least 1,500 won. If you buy some snacks and a few of food, you’ll be surprised that it almost touches 10,000 won, and many times, it costs more. Will the Korean Won get s...
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