Thursday, while saying that the market should ultimately decide exchange rates as the won closed at a nearly one-year high, South Korea's finance chief shrugged off the country's strengthening currency. 

During a question-and-answer session with reporters from foreign media organizations, Minister of Strategy and Finance Yoon Jeung-hyun, informed, "As to the weakness and strength of currencies that is for the market and for investors to judge." 

The exports of South Korea hiked due to weakness in won, which fell nearly 26 percent against the dollar last year, as it made the country's products more competitive in overseas markets. Apart from this, it also helped underpin Asia's fourth-largest economy in the middle of the global fall.

As per Yoon, the strength for won comes in the middle of global weakness in the greenback. Furthermore, he advised that only if the movements become unbalanced should the government step into market. 

South Korean won hiked to a nearly one-year high and Thursday, the currency closed at 1,204.80 to the dollar, which is its strongest finish since 1,187 on Oct. 1, 2008.

"The won, which has risen 3.7 percent this month and is 30 percent above an 11-year low hit in March, has strengthened in line with gains in South Korean shares. The Korea Stock Price Index, the country's benchmark exchange, advanced 0.7 percent Thursday to end at 1,695.47, a nearly 15-month high," said a source.