On November 2, Citi Group economist Jin-Wook Kim stated that South Korea's current account surplus is on a structurally expanding trajectory, underpinned by sustained growth in chip exports and a stable goods trade surplus—a trend that could fuel further appreciation of the won over the long term. He expects South Korea's current account surplus to average 22.8% of GDP from 2026 to 2028, far above the 4.2% recorded from 2016 to 2025. Citi forecasts that USD/KRW will decline to 1,300 within the next three months and further to 1,270 over 6 to 12 months. So far this year, USD/KRW has fallen 6.6% and currently stands at 1,345.30 won. Citi noted that if the won appreciates too rapidly, South Korea's financial regulators and the National Pension Service may step in by buying dollars to intervene.