Taiwanese LED Industry to Benefit from Rising Won

The Korean won is anticipated to rise against the U.S. dollar in the coming months, the strongest in six years. The Taiwan new dollar, on the other hand, is expected to depreciate against the Korean currency, according to a recent Commercial Times report. Foreign investors believe that the strengthening of the Korean won relative to the Taiwan new dollar will benefit the panel, touch panel, LED, and IC package test service industries in both countries. However, Taiwanese oil and mobile device industries (which rely heavily on imported panel and components from Korea) will suffer as the currency inflates.

Although fluctuation in the Korean won is often times similar to the Euro, the reasons behind the recent rise are due to expanding trade with China, said Chief Economy analyst Xie Guozhong, former chief Asian economist at Morgan Stanley. This also differs from previous exchange rate fluctuations in the Japanese yen brought on by monetary policies. It is anticipated that the rise in the Korean won will stop for a while and then start to depreciate.

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