The exchange rate of the Korean won against the Japanese yen has fallen to the 800-won per 100 yen level for the first time in seven years and two months.

As of Tuesday morning, the won-yen exchange rate dropped five-point-one won to 897-point-28 won per 100 yen, according to Korea's (KBS WORLD) website.

The won's gain against the Japanese yen is attributed to the weakening yen resulting from Japan's quantitative easing and the appreciating won bolstered by foreign capital inflow into the Korean stock market.

South Korea's foreign exchange authorities said that they are closely monitoring the foreign exchange market and may intervene in the market if the won’s gain against the yen becomes unilateral and excessive.