▲ This photo shows a financial data screen in the dealing room of Hana Bank in Seoul on July 22, 2026. (Yonhap)

SEOUL, July 22 (Yonhap) -- The South Korean won weakened against the U.S. dollar Wednesday, hit by further risk of oil supply disruptions caused by Iran-backed Houthi militants threatening to attack ships in the Red Sea.

The won was quoted at 1,480.1 won per dollar at 3:30 p.m., down 6.7 won from the previous session.

Renewed tension in the Middle East affected the won exchange rate amid escalating military strikes between the U.S. and Iran.

The Houthi militia earlier announced a blockade on Saudi Arabia, deepening fears that the Red Sea, an alternative energy export corridor, could become dangerous for commercial shipping similarly to the Strait of Hormuz and the Persian Gulf.

Overseas investors bought a net 2.06 trillion won (US$1.4 billion) worth of local stocks on Wednesday, with the benchmark Korea Composite Stock Price Index gaining 0.74 percent to close at 6,797.7 points.

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