Won Strengthens Amid Reports of Seoul-Tokyo Intervention

The South Korean won has remained firm against the US dollar amid signs that Seoul intervened in the market to prop up the currency, reportedly in tandem with Japanese authorities.

According to data from Nikkei Asia, the strengthening of the won is attributed to SK Hynix's recent listing in the US. The chipmaker converted dollars raised from its U.S. listing into the won, contributing to the stronger South Korean currency.

The move has sparked speculation that Seoul may be intervening in the market alongside Tokyo to stabilize their respective currencies.