# Korea $35 Billion Credit Plan Spurs Relief Rally in Won KRW USD, Stocks - Bloomberg

> South Korean assets rallied after the government pledged at least 50 trillion won ($34.8 billion) to support credit markets and ease fears of defaults in sectors including real estate. The Kospi rose as much as 2%, and the won gained up to 0.8% against the dollar before paring the move.

- Date: 2022-10-24 · published 2022-10-24T12:00:00.000Z
- Category: macro · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/39374-korea-35-billion-credit-plan-spurs-relief-rally-in-won-krw-usd-stocks-bloomberg
- Commodities: [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md)

## Why it matters

The credit backstop reduces near-term financial stress and supports the won, which lowers Korean import costs for feed ingredients priced in dollars. The effect on grain and meal prices is minor.

## Read by commodity

- USDKRW: bearish ▼

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2022-10-24/korea-35-billion-credit-plan-spurs-relief-rally-in-won-stocks

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.