Edition · Week of 15–21 June 2026 · No. 1
A cheaper won just opened a window on Korea
The take
If you are looking at Korea for a deal, this was a week worth reading closely. The won fell into the 1,520 range, the central bank now expects a record current account surplus, and Korea is about to pass Japan as the world’s fifth-largest exporter. Strong economy, cheap currency. In 17 years here I have rarely seen the two arrive together, and the people it favors are the ones holding euros and looking to buy.
Here is what each move means for your side of the table.
This week
The won fell to the 1,520 range, and that is your entry price talking
Korea's record $130 billion surplus means Korean buyers are coming to you.
Korea passing Japan on exports is the backdrop that holds all of this up.
The new EU-Korea Digital Trade Agreement quietly reset the legal floor.
Spanish mid-market PE is sitting on record dry powder, and it needs assets.