[Edaily Reporter Seong Joowon ] The won-dollar exchange rate has soared to its highest level since the global financial crisis (weak won). This comes as foreign investors are pulling out of the domestic stock market on a large scale amid a strong dollar.

◇Expert: “We Must Be Prepared for a Rise to 1,600 Won”
According to Bloomberg on the 1st, the won fell 0.6% to 1,559.10 won per dollar that day. This marks the lowest level since the 1,562.20 won recorded last month (June) and is the lowest level in about 17 years, since March 2009.
On the same day, foreign investors net sold 1.46 trillion won worth of stocks on the KOSPI market. This marks the eighth consecutive trading day of net selling. The KOSPI index fell as much as 3.9% during the session and is currently down by about 1%, while top-market-cap stocks— SamsungElectronics(005930), and SK hynix(000660)—are down by about 2–4%.
Moon Da-woon, an analyst at Korea Investment & Securities, said, “The dollar is so strong that it would not be surprising if the won hits a new low.” He added, “If it breaks through (the previous low), it will be difficult to pinpoint the next technical support level, so from a qualitative perspective, we must leave room for the won to fall to around 1,600 won per dollar.”
◇Global Funds Continue “Sell Korea” Trend Amid Semiconductor Concentration
This round of net selling by foreign investors is an extension of the record-high net selling of $58 billion (approximately 90 trillion won) recorded across the entire market in the second quarter (April–June). This is attributed to global funds reaching their exposure limits for SamsungElectronics and SK hynix, as well as a shift in investment sentiment toward artificial intelligence (AI).
The weakening of the won is in line with the broader weakness of Asian currencies. The Indonesian rupiah, Philippine peso, and Thai baht also fell in tandem today. The Japanese yen also broke through the 162 yen per dollar mark this week, hitting its lowest level in 40 years since 1986, and then weakened further by 0.1% to 162.70 yen per dollar. The Bloomberg Dollar Spot Index rose 0.2%.
Market participants are increasingly weighing the possibility that the won could fall further to the psychological resistance level of 1,600 won. There are also forecasts that the outflow of foreign capital and the weakening of the won could continue for the time being unless global funds complete their exposure adjustments to SamsungElectronics and SK hynix.