SEOUL ¨C South Korea's efforts to stabilize its currency face a major obstacle at home ¡ª the record appetite of its retail investors for U.S. stocks that is fueling dollar demand as the won languishes at 17-year lows.
The greenback's persistent strength against the won over the past year has complicated Seoul's plans to invest $350 billion in U.S. industries under a trade deal with Washington, amid concerns additional outflows could weaken the won further.
Those pressures have only been worsened by an army of Korean retail investors, nicknamed "ants," who are snubbing Seoul's efforts to ?keep money at home and doubling down on their U.S. stock investments.
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