The won strengthened to below 1,080 against the U.S. dollar for the first time in a year and three months on Monday.

The won closed at W1,079, up W1.7 from the previous trading day and the first time since Sept. 9, 2011 that it breached the psychological barrier.

Export businesses claim that the strong won could hurt them. A survey by the Korea Trade Insurance Corporation here showed that they see W1,102 as their average break-even point.

For major conglomerates, which are more capable of withstanding currency fluctuations, W1,059 is considered the break-even point. But financial institutions expect the won to continue to rise next year.