South Korean Won Rises as Trump Signals End to Middle East Conflict
Seoul, March 25 – The South Korean won strengthened against the US dollar on Wednesday following indications from US President Donald Trump regarding a potential resolution to the escalating Middle East conflict.The won opened at 1,493 per dollar, an increase of 2.2 won compared to the previous trading session, according to reports from the Yonhap news agency. The currency had previously surged to 1,495.2 won per dollar on Tuesday, rebounding from a 17-year low of 1,517.3 won in the session prior. This recovery followed Trump’s announcement of a five-day postponement of planned strikes against Iranian energy facilities and reports of ongoing negotiations.
However, Tehran has refuted claims of communication with the United States, dismissing them as a tactic to manipulate energy prices and stock markets, as reported by foreign media.
The ongoing conflict has contributed to heightened volatility in global foreign exchange and stock markets. Global oil prices have risen significantly, driven by the effective closure of the Strait of Hormuz, disrupting global oil supplies.
Meanwhile, South Korea’s virtual asset market experienced a downturn. Market capitalization decreased by 8 percent in the second half of last year from six months earlier, with the total value dropping 7.9 trillion won to 87.2 trillion won. This decline occurred as key cryptocurrencies saw falling prices.
Data from the Financial Services Commission (FSC) revealed that the total value of Korean won deposits made by traders increased 1.9 trillion won, or 31 percent, to 8.1 trillion won during the July-December period. Simultaneously, the operating profit of market operators decreased 38 percent to 381 billion won over the same period.
As of the end of 2025, there were 27 virtual asset market operators in South Korea, including 18 cryptocurrency exchanges, according to the financial regulator. During the July-December period, the average daily cryptocurrency transaction value reached 5.4 trillion won, a 15 percent decrease from the 6.4 trillion won average in the first half of 2025. The number of market users increased by 3 percent to approximately 11.13 million.
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