KOSPI and KRW/USD Exchange Rate Displayed at Hana Bank Headquarters Dealing Room in Jung-gu, Seoul on the Afternoon of the 9th. (Photo: Yonhap News)

 

[Alpha Biz= Kim Jisun] A recent survey revealed that 63% of major Korean companies have set their 2024 business plans using an exchange rate below the current level of KRW 1450 per dollar, with many applying a forecasted exchange rate in the KRW 1300 range. This discrepancy between planned and actual exchange rates is expected to require companies to prepare measures to mitigate the impact of high exchange rates.

On Thursday, the Korea Chamber of Commerce and Industry (KCCI), led by Chairman Chey Tae-won, released the results of a survey on the exchange rate impact conducted with the top 50 companies in South Korea.

According to the findings, 33.3% of the companies forecasted the exchange rate to be in the range of KRW 1350-1400 per dollar, and 29.6% predicted it would fall between KRW 1300-1350 per dollar when formulating their business plans for the year. Another 18.5% used an exchange rate in the KRW 1400-1450 range. Only 11.1% of companies used a forecast range of KRW 1450-1500 per dollar, which is the current exchange rate level.

 

 

 

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