South Korean Won Hits 17-Year Low Amid Middle East Turmoil Market Reaction to Middle East Events The South Korean currency, the won, has slumped to its weakest position in 17 years. This decline is intertwined with growing tensions in the Middle East and soaring global oil prices. Thursday saw the won valued at 1,501 againstKorean Won Hits 17-Year Low Against U.S. Dollar Amid Ongoing Iran Crisis