South Korea’s newly-appointed finance minister, Hyun Oh Seok, revived his nation’s concerns over weakness in the yen and said that the Group of 20 nations should revisit the issue.
“Japan’s expansionary policies are having various ripple effects on many countries,” Hyun, 62, told reporters on March 23 in Bundang, on his second day as finance chief. “The yen is depreciating while the won is gaining and this is flashing a red light for Korea’s exports.”
Japan central bank Governor Haruhiko Kuroda is poised to boost monetary easing, expanding a campaign to defeat deflation that triggered an 11 percent decline in the yen against the dollar in the past three months. South Korea expressed concerns about the currency’s slide before and after last month’s meeting of the G-20 in Moscow, where that organization refrained from criticizing Japanese policies.