(LEAD) S. Korean currency rises amid hopes for Strait of Hormuz reopening | Yonhap News Agency

## Summary
OK (ATTN: ADDS latest info, comments in paras 2, 6-9, additional photo) SEOUL, April 3 (Yonhap) -- The South Korean won strengthened against the U.S. dollar Friday, rebounding from a steep decline in the previous session, as talks on reopening the Strait of Hormuz showed signs of progress amid a prolonged conflict in the Middle East. But Iran's Deputy Foreign Minister Kazem Gharibabadi said Tehran is drafting a protocol with Oman to monitor maritime traffic through the Strait of Hormuz, raising hopes for progress in reopening the strategic waterway, which has effectively been shut since the start of the war in late February. Korea joins Britain-led ministerial meeting on Strait of Hormuz Trump raises pressure on Iran to make deal 'before it is too late' Keywords #Korean currency Articles with issue keywords Most Liked Oscar-winning 'KPop Demon Hunters' directors promise 'bigger,' more 'eventful' sequel Paik Kun-woo, at 80, says 'Music chose me' (LEAD) BTS scores 7th No. 1 album on Billboard 200 with 'Arirang' Liberal ex-prime minister to declare mayoral bid in conservative stronghold (URGENT) BTS earns 7th No. 1 song on the Billboard singles chart with 'Swim' Most Saved Oscar-winning 'KPop Demon Hunters' directors promise 'bigger,' more 'eventful' sequel Paik Kun-woo, at 80, says 'Music chose me' Liberal ex-prime minister to declare mayoral bid in conservative stronghold (LEAD) S. Korean currency rises amid hopes for Strait of Hormuz reopening Next (LEAD) S.

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(ATTN: ADDS latest info, comments in paras 2, 6-9, additional photo)
SEOUL, April 3 (Yonhap) -- The South Korean won strengthened against the U.S. dollar Friday, rebounding from a steep decline in the previous session, as talks on reopening the Strait of Hormuz showed signs of progress amid a prolonged conflict in the Middle East.
The won was quoted at 1,505.2 per dollar, up 14.5 won from the previous session.
A customer exchanges foreign currency at Incheon International Airport, west of Seoul, on April 1, 2026. (Yonhap)
Investors remained jittery about escalating tensions in the Middle East after U.S. President Donald Trump said during a prime-time address on Wednesday (U.S. time) that the United States would hit Iran "extremely hard over the next two to three weeks" and "bring them back to the Stone Age," without providing a timeline for ending the conflict.
The warning dampened hopes for a swift resolution to the monthlong conflict, which has pushed up oil prices amid supply disruptions and fueled fears of inflation and a potential economic slowdown.
But Iran's Deputy Foreign Minister Kazem Gharibabadi said Tehran is drafting a protocol with Oman to monitor maritime traffic through the Strait of Hormuz, raising hopes for progress in reopening the strategic waterway, which has effectively been shut since the start of the war in late February.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 2.74 percent to 5,377.3 Friday.
"The government has rolled out measures to stabilize the foreign exchange market and foreign exchange supply and demand conditions are expected to improve significantly," Finance Minister Koo Yun-cheol said during a visit to a securities firm branch in Seoul to mark the launch of the reshoring investment account (RIA).
The product offers capital gains tax deductions on overseas stocks if investors sell such holdings and invest the proceeds in domestic equities.
"We are closely monitoring volatility in the foreign exchange and financial markets with heightened vigilance, as uncertainty has increased significantly due to the war in the Middle East," he added.
This Reuters file photo shows cargo ships in the Gulf, near the Strait of Hormuz, as seen from northern Ras al-Khaimah, near the border with Oman's Musandam Governorate in the United Arab Emirates, on March 11, 2026. (Yonhap)
graceoh@yna.co.kr
(END)
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(LEAD) S. Korean currency rises amid hopes for Strait of Hormuz reopening

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## Expert Analysis

### Merits
- OK (ATTN: ADDS latest info, comments in paras 2, 6-9, additional photo) SEOUL, April 3 (Yonhap) -- The South Korean won strengthened against the U.S. dollar Friday, rebounding from a steep decline in the previous session, as talks on reopening the Strait of Hormuz showed signs of progress amid a prolonged conflict in the Middle East.
- But Iran's Deputy Foreign Minister Kazem Gharibabadi said Tehran is drafting a protocol with Oman to monitor maritime traffic through the Strait of Hormuz, raising hopes for progress in reopening the strategic waterway, which has effectively been shut since the start of the war in late February.

### Areas for Consideration
- Korea joins Britain-led ministerial meeting on Strait of Hormuz Trump raises pressure on Iran to make deal 'before it is too late' Keywords #Korean currency Articles with issue keywords Most Liked Oscar-winning 'KPop Demon Hunters' directors promise 'bigger,' more 'eventful' sequel Paik Kun-woo, at 80, says 'Music chose me' (LEAD) BTS scores 7th No. 1 album on Billboard 200 with 'Arirang' Liberal ex-prime minister to declare mayoral bid in conservative stronghold (URGENT) BTS earns 7th No. 1 song on the Billboard singles chart with 'Swim' Most Saved Oscar-winning 'KPop Demon Hunters' directors promise 'bigger,' more 'eventful' sequel Paik Kun-woo, at 80, says 'Music chose me' Liberal ex-prime minister to declare mayoral bid in conservative stronghold (LEAD) S.

### Implications
- Korea joins Britain-led ministerial meeting on Strait of Hormuz Trump raises pressure on Iran to make deal 'before it is too late' Keywords #Korean currency Articles with issue keywords Most Liked Oscar-winning 'KPop Demon Hunters' directors promise 'bigger,' more 'eventful' sequel Paik Kun-woo, at 80, says 'Music chose me' (LEAD) BTS scores 7th No. 1 album on Billboard 200 with 'Arirang' Liberal ex-prime minister to declare mayoral bid in conservative stronghold (URGENT) BTS earns 7th No. 1 song on the Billboard singles chart with 'Swim' Most Saved Oscar-winning 'KPop Demon Hunters' directors promise 'bigger,' more 'eventful' sequel Paik Kun-woo, at 80, says 'Music chose me' Liberal ex-prime minister to declare mayoral bid in conservative stronghold (LEAD) S.
- Korea co-sponsors U.N. resolution on N.K. human rights (LEAD) Trump calls on countries to 'go get your own oil' from Strait of Hormuz, or buy it from U.S.
- Most Viewed All Categories (LEAD) Trump says U.S. will hit Iran 'extremely hard' over next 2 to 3 weeks (LEAD) Lee, Macron hold summit to discuss bilateral cooperation (LEAD) Lee hosts dinner for France's Macron ahead of summit (LEAD) Lee reaffirms commitment to regain wartime command in meeting with U.S. lawmakers BTS to drop 'Come Over,' exclusive new track on 'Arirang' LP Most Viewed More Most Viewed Photos New school year begins in N.
- Korea N.K. leader inspects service facilities at new housing area prev (LEAD) S.

### Expert Commentary
This article covers lead, strait, hormuz topics. Notable strengths include discussion of lead. Areas of concern are also raised. Readability: Flesch-Kincaid grade 0.0. Word count: 675.