2026.04.0607:55:53UTC+00South Korean Won Gains as Energy Pressures Ease

The South Korean won strengthened to around 1,500 per dollar, rebounding from its weakest level since 2009 near 1,517, as easing concerns over global energy disruptions improved market sentiment. Investors remained focused on developments in the Middle East, where tentative progress toward reopening the Strait of Hormuz helped temper fears of prolonged supply interruptions and extreme oil price swings. The currency also drew support from Korea’s export outlook, particularly in semiconductors, with expectations of robust earnings and sustained demand for AI-related chips bolstering confidence in the country’s external balances. Gains in Samsung Electronics and SK hynix underlined this trend, underscoring the sector’s pivotal role in attracting foreign capital. However, the won’s advance was limited by ongoing geopolitical uncertainty after Donald Trump warned of possible military action against Iran if the Strait is not reopened by a specified deadline, keeping currency markets cautious amid the risk of renewed volatility.