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Budget Unlikely To Be Over KRW 30tn Says MOF

KRW

The won is weaker in early trade on Wednesday, USD/KRW up 2.45 at 1134.25. South Korea reported 645 daily new coronavirus cases, a two-week high and back over 600 on Wednesday as virus variants are emerging as another major challenge in the country's virus fight amid the accelerating vaccine rollout.

  • Elsewhere the MOF said the extra budget is unlikely to exceed KRW 30tn, after reports yesterday it could be as high as KRW 35tn. As a reminder the extra budget is planned to take place without extra debt issuance.

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