On Monday, propelled by the surge in semiconductor stocks and the unrelenting influx of foreign capital into South Korea's benchmark stock index, the South Korean won soared to a nearly two-year high. At one point, it surged by 1.3% against the US dollar, reaching 1,334.70, a level not seen since October 2024. Serving as a momentum indicator, the relative strength index of the won also climbed to its highest point since 2013, underscoring the rapid pace of its appreciation.

Exchange data revealed that the uptick in the South Korean stock market on Monday was primarily driven by chipmakers like Samsung Electronics and SK Hynix. Foreign investors snapped up over 800 billion won (roughly $598 million) worth of components in the Kospi index, marking the third straight day of capital inflows. While the sustained demand for South Korean assets is likely to further bolster the won, maintaining this rate of appreciation may prove increasingly challenging.