S&P is way up, but the JPY is keeping the KOSPI flat at best
Popular Press Has Caught Onto What Readers of this Blog Already Know
I receive a fair amount of ridicule from readers that have said that my observations regarding the JPY/KRW rate was a gift to Korea. it was a gift that certain chaebol have used to build their competitiveness on the global stage. However, that advantage is now gone: the KRW/JPY rate has returned to its pre-financial crisis levels.
Bank of Korea Had No Other Choice
The previous posts here suggested that the BOK had to act, and fast. And they have. Lower interest rates was the only choice that the BOK had. There will be limits to the amount of flexibility available to the BOK. It appears that we will learn how much progress the Korean economy has truly made.