At present, in the Korean foreign exchange market, the exchange rates of Korean won against all currencies except the US dollar, such as the Japanese yen and the euro, are linked to the US dollar through arbitrage.

The direct trading market between won and RMB was launched on February 20 14 1 day. Because the initial transaction was not active enough, the Korean government would indirectly calculate the cross exchange rate between the won and the RMB against the US dollar as the middle price of the direct transaction between the won and the RMB to prevent the won and the RMB from being undervalued or overvalued.