29.10.202502:51:52UTC+00South Korean Won Slips Amid APEC Summit

The South Korean won weakened to approximately 1,433 per dollar on Wednesday, marking the second consecutive session of losses as investors exercised caution during the APEC summit in Gyeongju. Authorities have adopted a neutral stance regarding potential progress, with official statements indicating the administration is “neither optimistic nor pessimistic.” The discussions are set to center on the execution of South Korea’s $350 billion investment commitment, as outlined in the trade agreement established in July. However, expectations for reaching an agreement to reduce U.S. import tariffs on South Korean goods during Trump's visit have lessened, with negotiations hindered by debates over the valuation methods and the structural funding of the investment pledge. Additionally, investors are focusing on the impending policy decision by the U.S. Federal Reserve later in the day. The market anticipates a 25-basis-point rate cut, although uncertainty surrounding the Fed’s future guidance has maintained a cautious sentiment ahead of the announcement.