SK hynix Listing Boosts Won to Strongest Level Since 2022

The South Korean won has seen a slight gain against the U.S. dollar, with the exchange rate reaching its strongest level since October 2022.

This movement is attributed to SK hynix Inc.'s recent listing on the Nasdaq, where it raised approximately $28.2 billion through an American depositary receipt offering earlier last month.

The company plans to use most of the funds for investments in South Korea, which has led to a sizeable influx of dollars into the local currency.