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Won strengthens as exporters sell dollars ahead of Chuseok

USD/KRW fell from about 1,390 to 1,360 as South Korea’s export growth and faster import momentum supported the currency.

Reported · Written up by our desk · Major Pairs

Societe Generale highlighted the South Korean won as one of Asia’s standout performers, noting USD/KRW eased from around 1,390 to 1,360 ahead of the Chuseok holiday as local exporters sold dollars.

FXStreet reports the bank pointed to a supportive backdrop tied to South Korea’s strong export engine, including an early-September surge in exports driven by AI-related shipments alongside faster import growth.

The note also tied the currency’s near-term tone to broader market conditions, including a hawkish Fed backdrop, oil-price strength, and higher US bond yields, all of which can influence risk sentiment and funding flows in FX.

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