Yen's fall to hit machinery, steel, automobile sectors in Seoul
Seoul - Yonhap
South Korea's machinery, steel and automobile industries could bear the brunt of the yen's prolonged weakness as it undercuts their price competitiveness in overseas markets, a central bank report showed Sunday. The yen has been losing ground sharply against the U.S. dollar, helping enhance price competitiveness of Japanese products. This raises concerns that South Korea's exports could be negatively affected as many of its products compete with their Japanese rivals in the global market.
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