USD/KRW opened slightly lower after......>

KOREAN WON: USD/KRW opened slightly lower after Vice FinMin Kim said that South

Korea monitors markets and will take appropriate measures if it sees one-sided

FX moves. Elsewhere, the BoK held a meeting to discuss equity mkt plunges in

major economies & the impact of Covid-9 on domestic mkts.

- South Korean industrial output shrank slightly less than expected in M/M

terms, but the Y/Y reading registered at -2.4% vs. exp. of +0.1%.

- According to the most recent update, South Korea has 1,766 cases of the novel

coronavirus. The addition of 505 new cases yesterday meant that the country

outpaced China for the first time.

- Six South Korean budget carriers have asked the gov't for financial support,

such as lower interests on financial aid from banks & lower airport fees.

- USD/KRW last trades -3.50 fig. at KRW1,213.65. A fall below yesterday's trough

at KRW1,210.00 would expose the Feb 21 low of KRW1,203.15. Conversely, a lift

through the recent multi-month highs clustered in the KRW1,220.05-50 area would

bring the Aug 6 high of KRW1,223.10 into play.

- South Korean trade balance hits on Sunday.