Won Rises Amid Strengthening Yen, Increased Import Demand

The South Korean won's value against the US dollar rose by 0.04% to 1,359 won on the morning of the 28th, up from its closing price the previous week.

This increase is largely attributed to the strengthening yen, as Scott Bessent, U.S. Treasury secretary, mentioned that a stronger yen reflecting Japan's solid economic fundamentals is desirable.

However, Min Kyung-won, a Woori Bank researcher, noted that attempts to push the rate higher due to Middle East uncertainty may appear in the session.

In addition, expanding demand from importers buying goods such as raw materials from overseas to purchase dollars is also cited as a factor pushing the rate higher.