The South Korean won fell to around 1,451 per dollar, hitting a three-week low as the dollar strengthened amid rising geopolitical tensions in the Middle East. The currency’s decline followed comments from President Donald Trump that US military operations in Iran will persist until strategic objectives are met. Finance Minister Koo Yun-cheol convened an emergency meeting, warning that escalating military tensions could heighten volatility in global financial and energy markets. He underscored South Korea’s reliance on Middle Eastern energy and raised concerns about potential instability in the Strait of Hormuz, a key oil transit chokepoint. Amid these concerns, domestic economic fundamentals provided some reassurance. South Korea’s exports surged 29% year-on-year in February to $67.45 billion, marking the highest February figure on record, driven largely by robust semiconductor demand amid the artificial intelligence boom.
