Jeon Han-gil, CEO of Jeon Han-gil News, has caused a stir by claiming that the South Korean won is being treated as "trash," stating that it has reached a rate of 2,100 won to the dollar.

In a YouTube broadcast on the 11th, CEO Jeon shared an experience of an acquaintance at LA Airport, stating, "My acquaintance was at LA Airport and went to exchange currency. You won't believe this: the rate was 2,100 won for every US dollar."

Noting that there were no private money changers at the airport, he remarked that applying an exchange rate of 2,100 won to the dollar was "a rate unseen even during the IMF crisis."

CEO Jeon reported that his acquaintance protested to the airport currency exchange, noting that the known exchange rate was in the 1,400-won range, but was told that they "dislike Korean currency."

According to CEO Jeon, the staff member at the LA Airport currency exchange said, "Everyone already dislikes Korean money."

CEO Jeon added, "Our currency will soon become trash, just like Venezuela's. I already warned you about this. Everything I have warned about is coming to pass; just wait and see. Isn't this why I said I was afraid?"

He further commented, "The ROK-US alliance has been broken," pointing out that the $350 billion in investment in the U.S. pledged by the Lee Jae-myung administration is impossible to fulfill.

Recently, there has been widespread speculation in South Korea that there is a significant gap between the officially posted exchange rate and the actual market rate.

This discourse was sparked by a video released on the YouTube channel 'Economy King Kim PB' (where 'PB' stands for 'Private Banking'), operated by an analyst partner at the economic newsletter firm AimRich, which analyzed that when the official exchange rate is 1,400 won per dollar, the actual value is 1,580 won.

In his YouTube broadcast on the 11th, Kim PB pointed out that while the dollar index was at the same level of 100 in both 2017 and 2024, the won was valued at around 1,100 won in 2017 compared to the 1,400-won range today, analyzing this as evidence that "the Korean economy has not been functioning normally."

He argued that although the Korean economy has grown in outward appearance, demand for the won has declined. Kim PB stated that unless "unforeseeable variables such as reunification or the emergence of incredible technologies like superconductors occur," long-term low growth is inevitable with 100% certainty.

Kim PB added, "If South Korea fails to implement pro-business and tax-reduction policies, and continues policies that drive companies away or force them overseas, or if such risks intensify, the value of the won will collapse even faster."

US NNP = Chief Reporter Sung Ku Hong / NNP Special Correspondent info@newsandpost.com