Bank of Korea says won's rise 'too fast'

The pace of the won's recent rise against the US dollar has been too fast, compared to other currencies, said Bank of Korea assistant governor Rhee Yeung-Kyun.

Speaking at a foreign exchange seminar here, Rhee said the central bank will intervene in the market if it considers the won's rise against the dollar to be overdone.

"If we assess (the won's rise) is too fast, we will intervene in the market as part of smoothing operations," Rhee said.

"It's true that the won has risen too fast (recently

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