[Breaking] Korea issues verbal FX warning as won volatility persists

South Korea’s foreign-exchange authorities issued a verbal intervention early Wednesday, signaling that tougher steps could follow to rein in market volatility. “The Korean won’s excessive weakness is not desirable,” the Finance Ministry and the Bank of Korea said in a joint statement released at 9 a.m., as onshore trading opened. “The market will soon recognize that the series of meetings held over the past week and the rollout of measures by individual ministries and agencies form part of a co