The South Korean won weakened to around 1,470 per dollar on Monday, extending losses from the previous session and hovering close to its lowest level in over seven months, pressured by persistent foreign equity outflows and firm corporate demand for US dollars. Offshore investors recorded their largest monthly net selling on Korean shares in November, reversing two months of buying and reinforcing steady capital outflows from domestic markets. Companies also accelerated their accumulation of dollar deposits, marking the fastest monthly increase this year as firms hedged against FX volatility and expanded overseas commitments. On the economic front, sentiment softened following another month of manufacturing contraction, with the PMI stuck at 49.4 as output and new orders continued to retreat. These dynamics limited support for the currency despite solid exports, which rose 8.4% in November.