(LEAD) Korean currency falls sharply past 1,500 won amid oil price surge | Yonhap News Agency

## Summary
OK (ATTN: ADDS more details in paras 6-9) SEOUL, March 19 (Yonhap) -- The South Korean currency fell markedly past the 1,500-won level against the U.S. dollar Thursday as global oil prices surged amid intensifying tensions in the Middle East. This AFP file photo shows a view of the phase 12 of the South Pars gas field facilities near the southern Iranian town of Kangan on the shore of the Gulf on Jan. 22, 2014. (PHOTO NOT FOR SALE) (Yonhap) graceoh@yna.co.kr (END) Related Articles (LEAD) Korean currency volatility not at critical stage: BOK board member (LEAD) (News Focus) Iran crisis sharply weakens Korean won, fueling inflation, economic fallout concerns (2nd LD) Fed holds key rate steady, projects 1 rate cut this year amid Iran war uncertainty (LEAD) Gov't holds meeting on potential evacuation of S. Korean vessels in Hormuz Strait Keywords #Korean currency #volatility Articles with issue keywords Most Liked Four decades of Damien Hirst on display at MMCA, from shark to cherry blossoms (LEAD) FM Cho sidesteps questions on whether U.S. asked Seoul to send warships to Middle East 16th Gwangju Biennale: You must change your life Ex-U.S. officials voice concerns about Trump gov't 'vacating' deterrence assets from Indo-Pacific amid Iran war Police vow zero tolerance for terror threats against BTS comeback concert Most Saved Four decades of Damien Hirst on display at MMCA, from shark to cherry blossoms 16th Gwangju Biennale: You must change your life (LEAD) FM Cho sidesteps questions on whether U.S. asked Seoul to send warships to Middle East (2nd LD) N. Korea's national sports festival Buddhist monks' anti-war rally Buddhist monks' anti-war rally prev (LEAD) Korean currency falls sharply past 1,500 won amid oil price surge Next (LEAD) Korean currency falls sharply past 1,500 won amid oil price surge

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OK
(ATTN: ADDS more details in paras 6-9)
SEOUL, March 19 (Yonhap) -- The South Korean currency fell markedly past the 1,500-won level against the U.S. dollar Thursday as global oil prices surged amid intensifying tensions in the Middle East.
The won opened at 1,505 per dollar, down 21.9 won from the previous session, breaching the psychologically and technically critical 1,500-won threshold.
On Monday, the won touched the level for the first time since March 2009 in intraday trading amid surging global oil prices, the Middle East crisis and concerns about supply disruptions.
The weakness came as global oil prices rose more than 5 percent on Wednesday (U.S. time), following Israel's attack on natural gas facilities linked to Iran's South Pars field, the world's largest gas field.
In response, Iran's Revolutionary Guard threatened to target oil and gas facilities in Qatar, Saudi Arabia and the United Arab Emirates, heightening the risk of further disruptions to energy supplies, according to foreign media reports.
Hawkish remarks by Federal Reserve Chair Jerome Powell regarding the situation in Iran also added pressure on the won.
At a press conference following the decision to hold the benchmark interest rate steady Wednesday (U.S. time), Powell said the surge in oil prices has increased inflationary pressures, signaling a cautious stance on the timing of further rate cuts.
The Fed decided to leave the rate unchanged at the 3.5-3.75 percent range for the second consecutive time, while maintained its projection of one rate cut this year.
The U.S. Dollar Index, which measures the greenback against a basket of six major currencies, climbed well above the 100 level.
South Korea's foreign exchange and stock markets have shown heightened volatility since the beginning of this month following the U.S.-Israeli attacks on Iran.
This AFP file photo shows a view of the phase 12 of the South Pars gas field facilities near the southern Iranian town of Kangan on the shore of the Gulf on Jan. 22, 2014. (PHOTO NOT FOR SALE) (Yonhap)
graceoh@yna.co.kr
(END)
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(LEAD) Korean currency falls sharply past 1,500 won amid oil price surge

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## Expert Analysis

### Merits
- Korea committed to expanding nuclear, missile programs; poses 'significant' threats to S.

### Areas for Consideration
- The weakness came as global oil prices rose more than 5 percent on Wednesday (U.S. time), following Israel's attack on natural gas facilities linked to Iran's South Pars field, the world's largest gas field.
- In response, Iran's Revolutionary Guard threatened to target oil and gas facilities in Qatar, Saudi Arabia and the United Arab Emirates, heightening the risk of further disruptions to energy supplies, according to foreign media reports.
- Korean vessels in Hormuz Strait Keywords #Korean currency #volatility Articles with issue keywords Most Liked Four decades of Damien Hirst on display at MMCA, from shark to cherry blossoms (LEAD) FM Cho sidesteps questions on whether U.S. asked Seoul to send warships to Middle East 16th Gwangju Biennale: You must change your life Ex-U.S. officials voice concerns about Trump gov't 'vacating' deterrence assets from Indo-Pacific amid Iran war Police vow zero tolerance for terror threats against BTS comeback concert Most Saved Four decades of Damien Hirst on display at MMCA, from shark to cherry blossoms 16th Gwangju Biennale: You must change your life (LEAD) FM Cho sidesteps questions on whether U.S. asked Seoul to send warships to Middle East (2nd LD) N.

### Implications
- This AFP file photo shows a view of the phase 12 of the South Pars gas field facilities near the southern Iranian town of Kangan on the shore of the Gulf on Jan. 22, 2014. (PHOTO NOT FOR SALE) (Yonhap) graceoh@yna.co.kr (END) Related Articles (LEAD) Korean currency volatility not at critical stage: BOK board member (LEAD) (News Focus) Iran crisis sharply weakens Korean won, fueling inflation, economic fallout concerns (2nd LD) Fed holds key rate steady, projects 1 rate cut this year amid Iran war uncertainty (LEAD) Gov't holds meeting on potential evacuation of S.
- Korean vessels in Hormuz Strait Keywords #Korean currency #volatility Articles with issue keywords Most Liked Four decades of Damien Hirst on display at MMCA, from shark to cherry blossoms (LEAD) FM Cho sidesteps questions on whether U.S. asked Seoul to send warships to Middle East 16th Gwangju Biennale: You must change your life Ex-U.S. officials voice concerns about Trump gov't 'vacating' deterrence assets from Indo-Pacific amid Iran war Police vow zero tolerance for terror threats against BTS comeback concert Most Saved Four decades of Damien Hirst on display at MMCA, from shark to cherry blossoms 16th Gwangju Biennale: You must change your life (LEAD) FM Cho sidesteps questions on whether U.S. asked Seoul to send warships to Middle East (2nd LD) N.
- Korea with top priority: presidential aide (LEAD) S.
- Korea's national sports festival Buddhist monks' anti-war rally Buddhist monks' anti-war rally prev (LEAD) Korean currency falls sharply past 1,500 won amid oil price surge Next (LEAD) Korean currency falls sharply past 1,500 won amid oil price surge

### Expert Commentary
This article covers korea, won, oil topics. Notable strengths include discussion of korea. Areas of concern are also raised. Readability: Flesch-Kincaid grade 0.0. Word count: 676.