23.02.202602:20:49UTC+00South Korean Won Extends Gains

The South Korean won strengthened to around 1,443 per dollar, extending the previous session’s gains as broad dollar weakness supported regional currencies, including the won. The greenback retreated after a US Supreme Court ruling curtailed President Donald Trump’s ability to use emergency tariff powers, increasing policy uncertainty and raising the likelihood of tariff refunds.

The won also drew support from strong semiconductor-related momentum and record equity gains among major exporters, bolstering expectations of sustained export-driven inflows. However, further appreciation was limited after President Trump announced new global tariffs, including a 15% levy broadly in line with previously signaled rates.

Investors remained focused on the risk of potential sector-specific measures targeting autos or semiconductors, which could undermine Korea’s trade surplus and weigh on capital flows.