South Korea Sells $9.61B in Q2 to Defend Won

The disclosure matters less for its size than for what it confirms: South Korea is willing to spend reserves directly to slow won weakness, and it is choosing to publish the number. That transparency invites scrutiny of how much ammunition authorities are prepared to commit if pressure persists, and it puts the won's moves in a broader Asian FX-intervention context. Whether the selling pace continues into subsequent quarters, and whether the BOK offers more detail on instruments, is the open question.