▲ Foreign exchange rates are displayed on a screen at Incheon International Airport in Incheon, west of Seoul, on June 9, 2026. (Yonhap)

financial authorities-FX market

Financial authorities to launch probe into possible unfair trading in FX market

By Kang Yoon-seung

SEOUL, June 10 (Yonhap) -- South Korea's financial authorities on Wednesday launched probes into possible unfair trading activities in the foreign exchange market, addressing the Korean won's recent sharp slide against the greenback.

The Bank of Korea and the Financial Supervisory Service (FSS) will carry out the probe into banks handling foreign currencies in line with the government's market stabilization efforts, according to the Ministry of Finance and Economy.

The South Korean won remained above the 1,500-won level for the 16th consecutive session through Tuesday.

"The investigation will examine whether there have been activities that disrupted stability in the foreign exchange market with the intent to gain unfair profits through manipulating or fixing exchange rates," the ministry said in a release.

Financial authorities plan to take stern measures should they identify illegal activities by the banks, it added.

On Sunday, South Korea's top financial policymakers warned that the government "will not tolerate excessive volatility or one-sided market concentration."

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