South Korea will continue FX smoothing

A South Korean finance ministry official told Reuters on Friday authorities will continue to implement foreign exchange smoothing operations, despite criticism of South Korea's currency policies in a US Treasury report to Congress.
The US Treasury had scathing words for South Korea in the report, calling on it to minimise currency interventions and noting that it had "intensified" its engagement with Seoul on currency issues. The official said there had been no change in the South Korean government's stance of leaving foreign exchange rates to the market, and it would continue to act to decrease volatility in markets if necessary.