The won hit its lowest point against the U.S. dollar this year on Tuesday as investors' flight to safe-haven assets continued amid concerns about inflation and a recession.

The Korean currency was trading at one-thousand-313-point-two won against the dollar as of 10:20 a.m. Tuesday, up nine-point-three won from the previous session's close.

This comes after the local currency traded higher than one-thousand-311 won at around 9:55 a.m., a record set just four trading sessions earlier.

The local currency had changed hands at one-thousand-237-point-two won in late May.

Analysts assess that the worldwide strengthening of the greenback amid austerity and stagnation concerns has put downward pressure on the won.