Seoul: The South Korean won saw an increase against the U.S. dollar on Friday, influenced by the anticipation surrounding SK hynix's upcoming U.S. listing, which is predicted to be among the largest share sales globally. The currency was quoted at 1,501.4 won per dollar at 3:30 p.m., marking an increase of 4.7 won from the previous session.

According to Yonhap News Agency, the Korean currency opened at 1,506.7 won per dollar, reflecting a slight decrease of 0.6 won from the previous session. The movement in the won was partly due to local companies offloading their U.S. dollars in light of SK hynix's expected capital raise of approximately 40 trillion won (US$26.5 billion) through the sale of American depositary receipts (ADRs) on the Nasdaq market.

ADRs are securities issued in the U.S. stock market that facilitate the trading of shares in foreign companies. This mechanism enables companies like SK hynix to attract investors based in the U.S. without requiring a full listing of common shares.

The appreciation of the won was also supported by a general weakness in the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) experienced a gain of 2.52 percent, closing at 7,475.94 on Friday. Despite this, overseas investors sold a net 320 billion won worth of Korean shares, indicating a complex trading environment.