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Japan's Aso plays down South Korean president's concerns over weak yen
[TOKYO] Japanese Finance Minister Taro Aso on Tuesday downplayed comments by South Korea's president over the weak yen's impact on Korean exporters.
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. "It would be a different story if South Korea's new finance minister said that, but the president makes various remarks, so there's no need to worry too much about it," Mr Aso told reporters after a cabinet meeting.
After the dollar, the yen is the most closely watched currency in South Korea as its big industries are fierce competitors with Japanese peers in key export markets.
The yen has weakened to a six-year low near 9.50 won last month. It was trading at around 108.78 versus the dollar, pulling back from last week's six-year low of 110.09. - Reuters