(LEAD) Korean currency slips past 1,500 won per dollar for 1st time in 17 yrs amid Middle East crisis | Yonhap News Agency

## Summary
OK (ATTN: RECASTS headline, lead with more info; ADDS details throughout) SEOUL, March 16 (Yonhap) -- The South Korean currency fell past the 1,500-won level against the U.S. dollar Monday for the first time in 17 years as global oil prices surged amid heightened tensions in the Middle East. The won opened at 1,501 per dollar, down 7.3 won from the previous session, breaching the 1,500-won mark for the first time in intraday trading since March 12, 2009, when the country was reeling from the global financial crisis. Officials work at a dealing room of Hana Bank in Seoul on March 13, 2026. (Yonhap) graceoh@yna.co.kr (END) Related Articles BOK to maintain cautious monetary stance amid uncertainties over Middle East crisis Current account surplus expected to ease downward pressure on Korean won: BOK Finance minister says verbal intervention possible over sharp won decline (2nd LD) Seoul shares down for 2nd day on prolonged Hormuz shutdown; won declines Keywords #FX market #volatility Articles with issue keywords Most Liked (News Focus) USFK's relocation of military assets to Middle East raises concerns about Seoul's capability to deter N.K. threats 16th Gwangju Biennale: You must change your life BTS expands Gwanghwamun concert capacity to 22,000 with added standing zones BTS to launch 'Arirang' pop-ups to mark new album release Police vow zero tolerance for terror threats against BTS comeback concert Most Saved 16th Gwangju Biennale: You must change your life (2nd LD) N. Korea holds parliamentary elections First lady attends memorial service for ex-PM Lee Hae-chan prev (LEAD) Korean currency slips past 1,500 won per dollar for 1st time in 17 yrs amid Middle East crisis Next (LEAD) Korean currency slips past 1,500 won per dollar for 1st time in 17 yrs amid Middle East crisis

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(ATTN: RECASTS headline, lead with more info; ADDS details throughout)
SEOUL, March 16 (Yonhap) -- The South Korean currency fell past the 1,500-won level against the U.S. dollar Monday for the first time in 17 years as global oil prices surged amid heightened tensions in the Middle East.
The won opened at 1,501 per dollar, down 7.3 won from the previous session, breaching the 1,500-won mark for the first time in intraday trading since March 12, 2009, when the country was reeling from the global financial crisis.
The won later trimmed its losses and was fluctuating in the mid-1,490 won range. As of 9:30 a.m., the currency was quoted at 1,494.15 won per dollar.
The weakness came as global oil prices spiked again overnight as U.S. President Donald Trump suggested the war with Iran could last several more weeks and called on the international community to help reopen the Strait of Hormuz to oil tankers.
Brent crude, the global benchmark, rose 2.9 percent to about $106.12 a barrel. U.S. oil also rose to over $100.
The conflict has entered its third week, causing serious disruptions to global oil supplies.
The Strait of Hormuz, a key waterway controlled by Iran, has been effectively shut since the start of the U.S.-Israeli strikes on Iran earlier this month.
The domestic foreign exchange and stock markets have shown high volatility since last week amid heightened geopolitical tensions.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 23.58 points, or 0.43 percent, to 5,510.82 at the opening bell following a sharp decline the previous session.
Officials work at a dealing room of Hana Bank in Seoul on March 13, 2026. (Yonhap)
graceoh@yna.co.kr
(END)
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(LEAD) Korean currency slips past 1,500 won per dollar for 1st time in 17 yrs amid Middle East crisis

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## Expert Analysis

### Merits
N/A

### Areas for Consideration
- The weakness came as global oil prices spiked again overnight as U.S.
- Officials work at a dealing room of Hana Bank in Seoul on March 13, 2026. (Yonhap) graceoh@yna.co.kr (END) Related Articles BOK to maintain cautious monetary stance amid uncertainties over Middle East crisis Current account surplus expected to ease downward pressure on Korean won: BOK Finance minister says verbal intervention possible over sharp won decline (2nd LD) Seoul shares down for 2nd day on prolonged Hormuz shutdown; won declines Keywords #FX market #volatility Articles with issue keywords Most Liked (News Focus) USFK's relocation of military assets to Middle East raises concerns about Seoul's capability to deter N.K. threats 16th Gwangju Biennale: You must change your life BTS expands Gwanghwamun concert capacity to 22,000 with added standing zones BTS to launch 'Arirang' pop-ups to mark new album release Police vow zero tolerance for terror threats against BTS comeback concert Most Saved 16th Gwangju Biennale: You must change your life (2nd LD) N.

### Implications
- OK (ATTN: RECASTS headline, lead with more info; ADDS details throughout) SEOUL, March 16 (Yonhap) -- The South Korean currency fell past the 1,500-won level against the U.S. dollar Monday for the first time in 17 years as global oil prices surged amid heightened tensions in the Middle East.
- President Donald Trump suggested the war with Iran could last several more weeks and called on the international community to help reopen the Strait of Hormuz to oil tankers.
- Officials work at a dealing room of Hana Bank in Seoul on March 13, 2026. (Yonhap) graceoh@yna.co.kr (END) Related Articles BOK to maintain cautious monetary stance amid uncertainties over Middle East crisis Current account surplus expected to ease downward pressure on Korean won: BOK Finance minister says verbal intervention possible over sharp won decline (2nd LD) Seoul shares down for 2nd day on prolonged Hormuz shutdown; won declines Keywords #FX market #volatility Articles with issue keywords Most Liked (News Focus) USFK's relocation of military assets to Middle East raises concerns about Seoul's capability to deter N.K. threats 16th Gwangju Biennale: You must change your life BTS expands Gwanghwamun concert capacity to 22,000 with added standing zones BTS to launch 'Arirang' pop-ups to mark new album release Police vow zero tolerance for terror threats against BTS comeback concert Most Saved 16th Gwangju Biennale: You must change your life (2nd LD) N.
- Korea, U.S. conduct joint drills (LEAD) N.

### Expert Commentary
This article covers won, korea, lead topics. Areas of concern are also raised. Readability: Flesch-Kincaid grade 0.0. Word count: 617.