韩元兑美元贬值超过1469韩元，延续了上周的大幅下跌，并在美元走强的压力下跌至三周低点。在美国总统唐纳德·特朗普对加拿大和墨西哥征收25%的关税，并对中国商品征收10%的关税后，美元继续保持其势头，这再次引发了人们对新的贸易战的担忧。上周，韩国代总统崔相茂下令密切关注美国新政府的政策及其对市场的潜在影响。在国内，经济数据显示，制造业采购经理人指数从12月的49上升到2025年1月的50.3，标志着工厂活动恢复扩张。与此同时，由于持续的政治不确定性导致消费者支出减弱，12月零售额环比下降0.6%，扭转了11月持平的局面。

The South Korean won depreciated past 1,469 per dollar, extending its sharp losses from the previous week and hitting a three-week low, pressured by a strengthening US dollar. The greenback continued its momentum after US President Donald Trump enacted a 25% tariff on Canada and Mexico, along with a 10% levy on Chinese goods, reigniting fears of fresh trade wars. Last week, South Korea's acting president, Choi Sang-mok, ordered close monitoring of the new US administration's policies and their potential market impact. Domestically, economic data showed that the manufacturing PMI rose to 50.3 in January 2025 from 49 in December, marking a return to expansion in factory activity. Meanwhile, retail sales fell 0.6% month-over-month in December, reversing a flat reading in November, as consumer spending weakened amid ongoing political uncertainty.

周一，基准韩国综合股价指数暴跌2.8%，至2450点，触及近一个月低点，因特朗普总统对墨西哥、加拿大和中国征收关税引发的贸易紧张局势升级，投资者情绪恶化。上周，韩国代理总统崔相茂下令密切关注美国新政府的政策及其对市场的潜在影响。在国内，经济数据显示，制造业采购经理人指数从12月的49上升到2025年1月的50.3，标志着工厂活动恢复扩张。此外，由于政治不确定性导致消费者支出减弱，12月零售额环比下降0.6%，与11月持平的数据相反。在企业方面，科技权重股暴跌，三星电子下跌2.7%，至2024年11月以来的最低水平，而SK海力士暴跌近5%，至近一个月低点。在汽车板块，起亚公司下跌4.7%，创六周新低，而现代汽车下跌2.4%。

The benchmark KOSPI plunged 2.8% to 2,450 points on Monday, hitting a near one-month low, as investor sentiment soured amid escalating trade tensions sparked by President Trump's tariffs on Mexico, Canada, and China. Last week, South Korea's acting President Choi Sang-mok ordered close monitoring of the new US administration's policies and their potential market impact. Domestically, economic data showed that manufacturing PMI rose to 50.3 in January 2025 from 49 in December, signaling a return to expansion in factory activity. Moreover, retail sales fell 0.6% month-on-month in December, reversing from a flat reading in November, as consumer spending weakened amid political uncertainty. On the corporate front, tech heavyweights slumped, with Samsung Electronics slipping 2.7% to its lowest level since November 2024, while SK Hynix plummeted nearly 5% to a near one-month low. In the auto sector, Kia Corporation shed 4.7%, hitting a six-week low, while Hyundai Motor declined 2.4%.

韩国制造业采购经理人指数从2024年12月的49上升到2025年1月的50.3，表明随着产出和新订单都回到扩张领域，工厂活动部门再次走强。产量和新订单的增长是五个月来的首次增长，国外销售增长更快，而国内需求仍然疲软。与此同时，未完成业务增长幅度为31个月来最大，同时企业增加了投入品的采购和库存。与此同时，交货时间在1月份延长，最明显的是三个月。然而，由于汇率疲软导致原材料价格上涨，就业水平连续第三个月下降，投入价格通胀急剧加速至2022年7月以来的最高水平。因此，企业选择通过稳步提高收费来转嫁更高的费用。最后，商业信心在去年年底短暂下降后恢复到正值。

South Korea's Manufacturing PMI increased to 50.3 in January 2025, up from 49 in December 2024, indicating a renewed strengthening in the factory activity sector as both output and new orders returned to expansion territory. The growth in output and new orders was the first increase in five months, with foreign sales rising faster while domestic demand remained subdued. Meanwhile, outstanding business rose the most in 31 months, while firms raised purchases and stocks of inputs. Meanwhile, delivery times lengthened in January and to the most marked extent for three months. However, employment levels fell for the third month running and input price inflation accelerated sharply to the sharpest since July 2022 due to higher raw material prices amid a weak exchange rate. As a result, firms opted to pass through higher expenses by raising charges at a solid pace. Lastly, business confidence returned to positive territory following the brief dip at the end of last year.

2024年12月，韩国零售额环比下降0.6%，在11月持平后再次转为负值，原因是政治动荡导致支出下降。值得注意的是，汽车和消费电子产品等耐用品的销售大幅下降，而娱乐、爱好和运动器材等半耐用品也面临着挑战。相比之下，化妆品和药品等非耐用品的消费呈现温和增长。零售额的整体下降被认为受到了短暂的紧急戒严的影响，这削弱了消费者的信心和支出。

Retail sales in South Korea declined by 0.6% month-on-month in December 2024, turning negative again after a flat reading in November as spending tumbles amid political turmoil. Notably, sales of durable goods, such as automobiles and consumer electronics, saw significant drops, while semi-durable goods, including recreational, hobby, and sports equipment, also faced challenges. In contrast, the consumption of non-durable goods, like cosmetics and pharmaceuticals, showed modest growth. The overall decline in retail sales is believed to have been influenced by the brief period of emergency martial law, which dampened consumer confidence and spending.