South Korean Won Hits Over 5-Month Low

2025-10-08 03:28 By Erika Ordonez 1 min. read

The South Korean won fell to around 1,421 per dollar on Wednesday, extending losses for a fifth straight session and hitting its weakest level since May 2025, as the dollar strengthened.

Political uncertainty surrounding the prolonged US government shutdown bolstered demand for the dollar, with investors seeking safety amid delayed data releases and fiscal uncertainty.

Domestically, South Korea warned that the European Union’s proposal to slash tariff-free steel import quotas and impose a 50% duty on excess shipments could significantly hurt its steel exports, the country’s second-largest overseas market.

At the same time, renewed US–China trade tensions added to the cautious mood, following Washington's announcement of new port fees on Chinese-linked vessels and signaling possible curbs on chip-equipment exports, stoking concerns over Asia’s trade outlook.



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