South Korean stocks closed almost flat Monday as investors showed concern over the won’s rise against the greenback that could inflict foreign-exchange losses on exporters, analysts said. The local currency closed higher against the U.S. dollar.

The benchmark Korea Composite Stock Price Index edged up 1.7 points, or 0.08 percent, to 2,015.14. Trading volume was low at 257.7 million shares worth 4.16 trillion won ($4.06 billion), with losers outpacing gainers 503 to 297.

“Seoul shares closed lower as the recent gains in the Korean won weighed down local exporters,” said Kang Hyun-gie, an analyst at I’M Investment & Securities Co. The Korean won has strengthened more than 3 percent against the greenback since March.

A relatively stronger won is a drag on the export-reliant country as it inflicts foreign-exchange damage on firms, making South Korean goods more expensive overseas.

Foreigners bought a net 200.8 billion won while individuals offloaded a net 93 billion won. Institutions sold more shares than they bought at 106.8 billion won.

Builders closed bearish, with Hyundai Engineering & Construction losing 1.08 percent to 55,100 won and Daewoo Engineering & Construction falling 2.74 percent to 8,530 won. Daelim Industrial shed 1.55 percent to 82,700 won.

BGF Retail, the operator of CU, a local convenience store chain, moved down 3.16 percent to 55,200 won on its first trading day.

Tech shares traded mixed, with Samsung Electronics rising 1.4 percent to 1,448,000 won, while SK hynix lost 3.2 percent to 40,900 won. LG Electronics moved down 0.73 percent to 68,000 won.

Other Samsung affiliates also gained ground, due mainly to rising hopes of the reorganization of South Korea’s largest conglomerate following the hospitalization of its de facto chairman Lee Kun-hee. Samsung C&T gained 1.39 percent to 73,000 won and Samsung Life Insurance added 2.42 percent to 106,000 won.

Carmakers closed mixed, with No. 1 Hyundai Motor losing 0.43 percent to 233,5000 won while its smaller affiliate Kia Motors advanced 1.72 percent to 59,000 won. Auto parts maker Hyundai Mobis lost 0.5 percent to 296,000 won.

The local currency ended at 1,022.00 won to the U.S. dollar, up 2 won from Friday’s close. (Yonhap)