Bank of Korea board member Moon Woo Sik

Bank of Korea board member Moon Woo Sik

Woohae Cho/Bloomberg

“We have good reason to be worried about rapid depreciation of the yen,” said Moon Woo Sik, board member of Bank of Korea. At the same time, “it is too early” for the central bank to consider taking any action, adding that policy makers will monitor currency volatility for any effects on economic and price stability.