Auto, electronic industries feeling pinch of strong won in Seoul
Auto, electronic industries feeling pinch of strong won in Seoul
Seoul - Yonhap
South Korea's automobile and consumer electronics sectors are feeling the pinch of a strong local currency that is forcing some to downgrade second-quarter earnings estimates, industry sources said Sunday.
The Korean won started to strengthen against the U.S. dollar in late March and rose to 1,020.1 won to the greenback as of Friday, compared with an exchange rate that hovered in the 1,060 won to 1.070 won range in the first few months of 2014.
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