The South Korean won strengthened to 1,351.9 per dollar at 9 a.m. on the 23rd, down 6.3 won, or 0.46%, from the previous trading day’s close, after falling 22.8 won the previous day. Exporters accelerated dollar sales ahead of Chuseok, while quarter-end flows, foreign purchases of South Korean assets and strong trade data added dollar supply. Exports rose 78% year-on-year in the first 20 days of September, led by a 259% jump in semiconductor exports. Lower oil prices, hopes for US-Iran dialogue and improved risk appetite also supported the currency, although firm global dollar conditions, importer demand and US-stock buying could limit further gains. The Asian Development Bank raised South Korea’s 2026 growth forecast to 3.2% from 2.6%.