The South Korean won inched higher to around 1,455 per dollar, extending the previous session’s gains, supported by optimism over an AI-driven upswing in the semiconductor cycle. Robust demand for high-bandwidth memory and other AI-related products is bolstering earnings prospects for the country’s major chip exporters. Strong corporate results and increased foreign participation in semiconductor-heavy equities have also helped stabilize broader market sentiment.
Further support came from South Korea’s early trade figures, with exports surging 44.4% year-on-year in the first 10 days of February and semiconductor shipments soaring 137.6%. This has strengthened the trade balance and reinforced expectations of steady dollar inflows. The latest appreciation in the won also follows last week’s strong external flows, including a record current account surplus and a $3 billion foreign-exchange bond issuance. However, the currency’s gains remained limited as investors stayed cautious ahead of key US economic data.
