Deep inside a government complex in Sejong, about two hours from Seoul, a room known as ¡°the box¡± is ground zero for South Korea¡¯s currency anxieties.
Behind a door marked ¡°restricted access,¡± finance ministry officials watch every tick in the won, scrutinizing price swings and trading volumes to determine when intervention might be necessary. Tensions are high as the currency dropped to a 17-year low and was the worst performer in Asia in the first half.
From July 6, their task will be even more challenging as the won will trade around the clock for the first time. Preparations have ramped up: meals are upgraded, an extra official has joined, and a rickety camping cot may soon be replaced with a proper bed, according to a person with knowledge of the matter, who asked not to be identified discussing private information.
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