절상 refers to the appreciation of a currency's value in relation to another currency. This often occurs due to economic factors such as increased demand for a country's goods or services, higher interest rates, or positive economic indicators. When a currency appreciates, it can buy more of another currency, making imports cheaper and exports more expensive. In the context of international trade, 절상 can impact a country's competitiveness. For example, if the 한국 원 appreciates against the 미국 달러, Korean products may become more expensive for American consumers, potentially reducing exports. Conversely, imports from the U.S. would become cheaper for South Korean consumers.