直线拉升，韩国宣布救市

Group 1 - The National Pension Service (NPS) of South Korea announced a more flexible approach to strategic foreign exchange hedging to support the weakening Korean won [1] - The NPS manages approximately 136.1 trillion KRW (about 92.4 billion USD) and has set a strategic hedging limit of 10% for its overseas investment portfolio [1] - The Korean won has depreciated over 8% against the US dollar in the second half of the year, making it the worst-performing currency in Asia, leading to increased pressure on currency stabilization [1] Group 2 - Following the announcement, the Korean won strengthened, with a rise of 0.9% against the US dollar [2] - Shaun Lim, a forex strategist at Maybank, indicated that the announcement would deter short-sellers of the won, emphasizing the importance of aligning with the central bank and major institutional investors like NPS [3] - The NPS has previously utilized hedging and foreign exchange operations to alleviate pressure on the won, including selling USD and buying KRW from January to May this year [3] Group 3 - The Ministry of Health and Welfare, which oversees the NPS, announced an extension of the foreign exchange swap agreement with the Bank of Korea (BOK) until the end of 2026 [3] - The swap limit has been increased from 10 billion USD in 2022 to 65 billion USD [3]