The South Korean won appreciated to around 1,466 per dollar on Thursday, gaining traction after stabilizing for two consecutive sessions as government efforts to ease concerns over capital outflows continued to support the currency. After the Ministry of Trade, Industry, and Resources unveiled a modular trade agreement framework, focus returned to the FX market, with the National Pension Service expected to become more active should the won approach 1,480 to 1,500. Optimism was bolstered as confidence grew in additional foreign exchange management measures. Adding to the momentum, exports surged 17.3% year-on-year in the first 10 days of December, driven by robust global demand for semiconductors, with shipments reaching $20.58 billion, up from $17.54 billion a year earlier. Separately, sentiment was also supported as the US central bank lowered its key interest rate to 3.5–3.75 percent, narrowing the gap between US and South Korean key rates to as much as 1.25 percentage points.