The South Korean won weakened to around 1,446 per dollar, extending losses for another session as investors assessed official pledges aimed at curbing sustained capital outflows. Authorities reaffirmed their commitment to stabilizing the currency market, emphasizing coordinated action to restore stability. Sentiment remained pressured as officials noted that the downward pressure on the won persists despite earlier interventions. Bank of Korea Governor Rhee Chang-yong called for close coordination between the central bank, government, and relevant agencies to address the won’s recent depreciation, which he said remains inconsistent with underlying economic fundamentals. The won’s decline coincided with a drop in South Korea’s foreign reserves, which fell for the first time in seven months in December to US$428.05 billion, down $2.6 billion from November. Officials attributed part of the decrease to measures taken to curb volatility in the foreign-exchange market.