Goldman Sachs senior Asia economist Goohoon Kwon says the Korean won has slipped amid global rate hikes and regional trade tensions. He argues that currency weakness masks a resilient corporate sector, robust export pipelines, and solid balance sheets that underpin the Korean equity market for investors seeking growth in 2024.

Currency depreciation has pressured import costs and narrowed profit margins for some firms, yet Korea’s tech giants and shipbuilders continue posting record earnings. Kwon points to rising R&D spend and expanding global market share as evidence that underlying fundamentals remain strong despite short‑term volatility for the next fiscal cycle ahead.

Investors should monitor the won’s trajectory alongside policy moves from the Bank of Korea, which may intervene if inflation spikes. Kwon expects equity inflows to rise as foreign funds chase higher yields, making Korea a focal point for Asia‑focused portfolios in the coming months through 2025 and beyond for investors.