2026.08.0304:10:43UTC+00South Korean Won Extends Gains

The South Korean won strengthened to around 1,430 per dollar, extending its July rebound on the back of solid foreign capital inflows and improving trade fundamentals. The currency drew support from dollar inflows tied to SK Hynix’s ADR offering, as the proceeds were converted into won to finance domestic semiconductor investment. Renewed foreign demand for Korean assets further underpinned the recovery.

Korea’s external outlook also brightened. July exports surged 62.9% year-on-year to $98.89 billion, driven by a 179% jump in semiconductor shipments to $41 billion. That performance pushed the trade surplus up to $30.32 billion, reinforcing expectations of a growth rebound and bolstering manufacturing sentiment as firms benefited from strong chip demand.

In separate geopolitical developments, US President Donald Trump called off a planned strike on Iran, an action that pushed oil prices lower and eased tensions in the Middle East.