September 04, 2014 12:22
The won surged to a six-year high against the Japanese yen on Wednesday, raising fears that Korean exports will continue to lose price competitiveness.
The Korean currency surged above the psychological barrier of 105 yen at one point during trading on the Japanese market and closed at W971.32 per 100 yen in trading in Seoul.
Exporters are worried. Their stocks fell on the KOSPI, with Samsung shares dropping 0.4 percent to a two-year low, while shares of Hyundai, affiliate Kia and parts maker Hyundai Mobis also plunged.
- Copyright © Chosunilbo & Chosun.com