Korea Rejects Japan Blame for Weak Won as Trade Tensions Flare
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A South Korean official said his nation shouldn’t be blamed by Japan for the won’s weakness against the yen because investor sentiment is the cause rather than any government policy of suppressing gains.
Deputy Finance Minister Choi Jong Ku said in an interview in Seoul today that reported comments by Japan’s top trade negotiator Hideichi Okada had shown a “lack of understanding.” Last week, Dow Jones quoted Okada as expressing concern that the exchange rate posed a challenge for Japanese industries. The Japanese official declined to comment today.