26 Jul 2026
The won just closed Korea's cheap window.
The take
For most of this year, foreign funds could buy Korean assets at a discount, because the won was weak. This week that discount started to disappear. The won got stronger, exports hit another record, and the funds that spent the first half buying Korea cheaply now have to pay more. The story is not slowing down. The window to get in early is just getting more expensive. The capital is ready and the targets are known. What is changing is the price of moving first.
Here is what each move means for your side of the table.