South Korean won strengthens as foreign buying supports local equities

Currency gains reflect sustained risk-on sentiment in Seoul, aligning with analyst projections for further appreciation toward the 1,450 level in the second half of the year.

By Handelsavisen Newsroom · Automated 2026-07-21 07:47 UTC · 1 min read

The South Korean won firmed against the U.S. dollar on Tuesday, trading at 1,474.3 won per dollar by mid-afternoon.

The currency gained 5 won, supported by continued net purchases of local equities by foreign investors.

This buying pressure underscores a broader shift in sentiment toward Korean assets.

Recent market activity has seen the benchmark KOSPI index rise significantly, driven largely by sustained demand for semiconductor stocks.

The return of foreign capital to risk assets in Seoul has provided a tailwind for the currency, reversing some of the depreciation seen in earlier periods.

The current move aligns with market expectations for further currency appreciation.