# Korea President Yoon to hold emergency meeting over won - KED Global

> The won fell 1% to 1,288.6 per dollar on May 12, its weakest close in 13 years, prompting President Yoon Suk-yeol to call an emergency meeting. US consumer prices rose 8.3% year on year in April, above forecasts.

- Date: 2022-05-12 · published 2022-05-12T12:00:00.000Z
- Category: macro · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/41634-korea-president-yoon-to-hold-emergency-meeting-over-won-ked-global
- Commodities: [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

A sharply weaker won raises the local-currency cost of imported feed grains and meal, pushing up Korean feed prices.

## Read by commodity

- CORN: neutral
- USDKRW: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2020-04-03 | [Grim reality of severe global economic recession slams meat industry
						 \| The Pig Site](https://feedsoft.ai/events/6602-grim-reality-of-severe-global-economic-recession-slams-meat-industry-the-pig.md) | -0.6% | -8.4% |
| CORN | 2017-02-22 | [Mexico to offer up to USD$20 billion in forex hedges to aid battered peso \| El Universal](https://feedsoft.ai/events/72717-mexico-to-offer-up-to-usd-20-billion-in-forex-hedges-to-aid-battered-peso-el.md) | -0.1% | -1.6% |
| CORN | 2019-02-25 | [Global Nitrogen Market: 6 Factors to Watch in 2019 - CropLife](https://feedsoft.ai/events/60901-global-nitrogen-market-6-factors-to-watch-in-2019-croplife.md) | -1.0% | +2.4% |
| CORN | 2019-03-19 | [Argentina Is Anxious for Soy Dollars. Farmers Won’t Play Ball - Bloomberg](https://feedsoft.ai/events/59942-argentina-is-anxious-for-soy-dollars-farmers-won-t-play-ball-bloomberg.md) | -0.3% | -3.4% |
| CORN | 2020-07-17 | [Economic recovery hinges on virus control, consumer confidence \| Western Livestock Journal](https://feedsoft.ai/events/52113-economic-recovery-hinges-on-virus-control-consumer-confidence-western-livestock.md) | -0.2% | +0.5% |

## Sources

- kedglobal.com: https://www.kedglobal.com/foreign-exchange/newsView/ked202205120018

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