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President-elect Park vows 'preemptive' monetary steps for weak Japanese yen

By Park Sae-jin Posted : April 26, 2013, 09:42 Updated : April 26, 2013, 09:42
President-elect Park Geun-hye said on Feb. 20 that she will take measures to ensure that South Korean companies will not suffer losses from the weak Japanese currency, according to her spokesman Park Sun-kyoo.

"I'm well aware that stabilizing foreign exchange rates is important. (We) will cope with the current situation in a preemptive and effective manner to ensure that our companies will not suffer losses," she said in a meeting with leaders of the Korea International Trade Association in southern Seoul. She also visited the Korea Employers Federation later in the day.

South Korean exporters have faced difficulties as the weak Japanese yen makes their products more expensive than Japanese goods.

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