LGT Private Bank Asia says the South Korean won’s medium-term outlook is
constructive, citing record current-account surpluses, resilient tech and
storage-chip exports spreading into the broader economy, and a hawkish Bank of
Korea. LGT cut its USD/KRW forecasts to 3M 1490→1400, 6M 1460→1420 and 12M
1450→1420. The bank remains bullish on multi-year AI-driven growth in Korea but
warns a hit to market sentiment or a slowdown in AI-related capex could prompt
large equity outflows and quickly reverse won gains.
