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South Korean president says weaker yen could hurt exporters
[SEOUL] South Korean President Park Geun-hye said on Monday the yen's weakness could hurt the profitability of Korean exporters, citing it as a factor contributing to increasing uncertainty about the global economy.
"Volatility has been growing on the domestic capital markets including the stock market due to (increased global uncertainty) and profits at export companies are feared to worsen due to the weakening yen," a presidential office statement quoted Ms Park as saying during a meeting with senior policy aides.
Ms Park rarely makes comments on currency movements. After the dollar, the yen is the most closely watched currency in South Korea as its big industries compete fiercely with Japanese rivals in key export markets. - Reuters