A currency exchange shop in Myeong-dong, central Seoul, Monday (Yonhap) South Korea's foreign exchange authorities signaled Monday their readiness to step in if won volatility continues, after the local currency slid to its weakest level since the global financial crisis."Recent volatility in the forex market appears to have been amplified not only by supply and demand factors but also by speculative foreign exchange transactions, including those in the non-deliverable forward market," said Yoon Kyoung-soo, director general of the International Department at the Bank of Korea, and Lee Hyung-ryul, director general of International Finance at the Finance Ministry, through a joint statement."We will not tolerate excessive volatility or one-sided market movements that are inconsistent with economic fundamentals and will strongly respond to such developments."Earlier in the day, the Korean won opened at 1,555.2 per dollar in onshore trading, weakening by 16.1 won from the previous session's daytime close.It was the won's weakest level against the dollar since it opened at 1,590 won per dollar on March 6, 2009, in the wake of the global financial crisis.The won had also weakened past the 1,560-per-dollar mark during overnight trading on Saturday.