South Korea's Finance Minister pledged on Wednesday to stabilize the weakening won, but refrained from announcing any immediate policy interventions to counter the currency's persistent decline. The announcement comes amidst increasing concerns regarding the continued weakness of the South Korean won against major global currencies.

During a public statement, the Finance Minister acknowledged the anxieties surrounding the won’s performance, emphasizing the government’s commitment to maintaining financial stability. However, the minister did not detail any specific actions or policies that would be implemented to directly address the situation.

The lack of concrete measures has left market observers and analysts questioning the government's strategy. The won has been under pressure recently due to a combination of factors, including rising US interest rates, a strengthening US dollar, and concerns about global economic growth. These external pressures have made it more expensive for South Korea to import goods and services, potentially impacting inflation and economic growth.

While the Finance Minister assured the public that the government is closely monitoring the situation and stands ready to act if necessary, the absence of immediate action suggests a cautious approach. Officials are likely weighing the potential impact of intervention measures, such as foreign exchange intervention or adjustments to interest rates, on the broader economy. Further developments are expected as the situation unfolds.