Korean Won Slides Near 2009 Lows as Foreign Investors Sell Korean Stocks for Eight Straight Days
Claire Weston
The won fell as much as 0.6% to 1,559.10 per dollar on July 1, closing in on its weakest level since March 2009; foreigners dumped a net ₩1.46 trillion in Korean stocks in a single session, extending the selloff to eight consecutive days as dollar strength and capital flight converge.
How far has the won fallen?
The won hit an intraday low of 1,559.10, just shy of last month's 1,562.20 — the weakest since March 2009.
This means → a break below 1,562 would mark a fresh 16-year low.
The won led losses across Asian currencies. The Bloomberg Dollar Spot Index rose 0.2% on the day.
What are foreigners selling, and how much?
Overseas investors net-sold roughly ₩1.46 trillion (~$938 million) of KOSPI stocks, extending the streak to eight straight sessions of outflows.
KOSPI fell as much as 3.9% intraday. Samsung Electronics and SK Hynix both dropped more than 3%.
In plain terms = this is not light trimming — foreign funds have been moving money out in size for over a week, hitting Korea's two biggest index weights hardest.
How large was last quarter's selloff?
In the prior quarter, foreigners net-sold a record $58 billion from the broader Korean market.
Two drivers: ① global funds hit exposure caps — the maximum share a fund's rules allow in a single name — on Samsung and SK Hynix; ② sentiment on the AI trade shifted.
This reflects a structural adjustment, not a short-term panic: position limits and a changing sector narrative moved at the same time.
How are other Asian currencies holding up?
The Indonesian rupiah, Philippine peso, and Thai baht all weakened alongside the won.
The yen slipped 0.1% to 162.70, breaching the 162 level this week — its lowest since 1986.
This means → won weakness is not a Korea-only story; it is the clearest symptom of broad dollar strength pressing on all Asian currencies.
What to watch next?
Moon Dawoon, economist at Korea Investment & Securities, says the won's downside should remain open toward 1,600.
In plain terms = if 1,562 breaks, the next meaningful reference point is 1,600 — with almost no clear technical floor in between.
Whether the won can hold 1,562 is the key signal for whether foreign selling pressure spreads further.
Content is for reference only, not financial advice.