South Korea's won-denominated export price index fell 3.7% from July to 183.23 in August 2026, its steepest monthly decline since December 2022, as the won strengthened against the dollar. The average exchange rate declined 6.1% to 1,406.3 won per dollar from 1,497.43. Export prices in contract currencies rose 2.2%, indicating the won-based decline was driven primarily by exchange-rate effects. Import prices fell 2.4% to 156.31 for a third consecutive month despite a 15.6% rise in Dubai crude to $88.75 a barrel. Export and import volumes rose 25.9% and 12.0% year over year, while the net terms-of-trade index reached a record 119.9.