(LEAD) Korean won falls further to below 1,480 won mark amid Trump tariff woes

▲ An official walks inside a dealing room of Hana Bank in Seoul on April 8, 2025. (Yonhap)

(LEAD) S Korea-currency

(LEAD) Korean won falls further to below 1,480 won mark amid Trump tariff woes

(ATTN: RECASTS lead with more details; ADDS more info in last 4 paras)

SEOUL, April 9 (Yonhap) -- The South Korean currency opened markedly lower against the U.S. dollar Wednesday, falling below the 1,480 won mark, as the Donald Trump administration's sweeping tariffs stoked fears of an intensifying trade war between the United States and China and a global economic slowdown.

The Korean won opened at 1,484 won per dollar, down 10.8 won from the previous session's 1,473.2 won.

Tuesday's reading marked the lowest level since March 13, 2009, when the country was grappling with the aftermath of the global financial crisis.

The won's weakness came as U.S. President Donald Trump announced plans last week to impose reciprocal tariffs on imports from most of the world, including 25 percent duties on South Korean goods.

The country-specific tariffs are set to take effect Wednesday (U.S. time), while a 10 percent baseline tariff on foreign imports went into force Saturday.

Trump also warned of additional 50 percent tariffs on China if Beijing does not withdraw its retaliatory 34 percent tariffs against his country, stoking fears of a trade war between the world's two largest economies.

The Bank of Korea (BOK) and the government have vowed to implement market stabilization measures swiftly when necessary, warning that the foreign exchange and the financial markets could face heightened volatility for a longer-than-expected period.

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