▲ A financial data screen in the dealing room of Hana Bank in Seoul on May 21, 2026, shows the benchmark Korea Composite Stock Price Index having risen 4.71 percent from the previous session to an intraday high of 7,548.53 in early trading. South Korean stocks opened markedly higher, led by tech gains, on rising hopes for a possible agreement between the United States and Iran to end the war in the Middle East, and on Samsung Electronics' tentative wage deal with its labor union. (Yonhap)

Korean won-volatility

S. Korea's currency makes slight gain on optimism over possible Iran deal

SEOUL, May 21 (Yonhap) -- The South Korean won rose slightly against the U.S. dollar Thursday on expectations that the United States may be close to reaching a deal with Iran to end the war in the Middle East.

The won was quoted at 1,506.1 won against the dollar as of 3:30 p.m., up 0.7 won from the previous session's close.

The won opened at 1,499.5 won per dollar, down 7.3 won from the previous session's close.

U.S. President Donald Trump has expressed his willingness to wait a few more days for Iran's "right answers," as he has been pressuring Tehran to reach a peace deal to end the war with the U.S.

The won gained for the second consecutive session but hovered around the psychologically important level of 1,500 to the dollar for the fifth straight trading day.

Earlier in the day, the benchmark Korea Composite Stock Price Index (KOSPI) jumped 8.42 percent to close at 7,815.59, thanks to optimism over a potential peace deal in the Middle East and a tentative accord between Samsung Electronics Co. and its union that averted a strike.

Foreign investors sold a net 243.4 billion won (US$161 million) worth of local stocks on Thursday.

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