The won-dollar exchange rate against the U.S. dollar closed at 1,508.9 won on the 27th. It rose 1.9 won from the previous day.
This is seen as a result of the prolonged situation in the Middle East. When such geopolitical conflict drags on, investor sentiment toward risk assets tends to weaken in the market, and the value of the won tends to fall.
The war between the United States and Iran that began on Feb. 28 appears likely to continue into next month. Overnight, President Donald Trump said on his social media Truth Social that he would defer the attack on Iranian power plants from the original date of the 27th of this month to 8 p.m. on Apr. 6.
On the 21st (local time), President Trump said, "If Iran does not fully open the Strait of Hormuz within 48 hours from now without any threats, the United States will begin with the largest power plant and attack and obliterate Iran's various power plants." The deadline was the 23rd, but President Trump again pushed back the deadline.
Iran is preparing for ground warfare. On the 26th (local time), Iran's Tasnim News reported, "In addition to organizing more than 1 million people for ground warfare, in recent days the Basij militia, the Islamic Revolutionary Guard Corps, and regular army (Artesh) centers have been flooded with requests from Iranian youths to join the fight." On the same day, Army Commander Ali Jahanshahi reportedly visited the border and said, "Ground warfare will be more dangerous for the enemy and will exact a greater cost from which they cannot recover."
Min Kyung-won, a researcher at Woori Bank, said, "Iran is showing a hard-line response stance toward the United States, so the market still faces war-related uncertainty."