Business & Finance
SK Hynix Listing Emboldens Korea’s Drive to Repatriate Dollars
Key Points
SK Hynix Listing Emboldens Korea’s Drive to Repatriate Dollars A strong rebound in the won driven in part by SK Hynix Inc.’s record US listing has given South Korean authorities fresh impetus to prod exporters to repatriate their overseas dollars. Having raised $26.5 billion in the deal, the chipmaker was seen selling dollars, setting the stage for a subsequent strengthening of the won. At a meeting last week, Vice Finance Minister Huh Chang urged exporters to convert a larger share of their...
SK Hynix Listing Emboldens Korea’s Drive to Repatriate Dollars
A strong rebound in the won driven in part by SK Hynix Inc.’s record US listing has given South Korean authorities fresh impetus to prod exporters to repatriate their overseas dollars.
Having raised $26.5 billion in the deal, the chipmaker was seen selling dollars, setting the stage for a subsequent strengthening of the won. At a meeting last week, Vice Finance Minister Huh Chang urged exporters to convert a larger share of their proceeds into won and repatriate funds parked overseas.