The South Korean won traded around 1,414 per dollar, staying close to an more than 10-month high reached last week as persistent dollar-selling continued to support the currency. A key driver has been the conversion of SK hynix's ADR (U.S.-traded share certificate) proceeds into won, adding to the currency's sharp appreciation in recent weeks. Support was reinforced by a 155.4% year-on-year surge in chip exports in the first 10 days of August to $9.95 billion, underscoring Korea's semiconductor-led external strength amid strong global AI demand. Still, the won's advance was tempered by rising expectations for a September Federal Reserve rate hike, which supported the dollar ahead of key U.S. inflation data. Uncertainty around the Strait of Hormuz and higher oil prices also remained a headwind by increasing concern over Korea's import costs and inflation.