Section
FX
The won against the dollar and its major crosses, plus currency futures.
Korea runs a $188bn trade surplus. Almost none of it is with China.
China is Korea's biggest partner both ways, and the two nearly cancel — a $9bn surplus on $330bn of trade. The surplus is earned from the US, Vietnam and a Hong Kong that forwards most goods on. The deficits are oil, gas and machinery.
China is Korea's biggest trading partner. Its yuan futures are 0.03% of the market.
Across 629 trading days, 99.0% of Korean currency-futures turnover was one contract: the dollar. The exchange also lists 1,272 flexible-dated dollar futures that have never traded once.