Kia Says Weakening Yen Becoming ‘Weapon’ for Japanese Carmakers

The weakening yen is becoming a “weapon” for Japanese automakers by making them more competitive, said a senior executive at South Korea’s second-largest carmaker.

“The weakening yen reinforces the Japanese competitors,” Kia Motors Corp. Vice President Lee Soon Nam told reporters today at the Seoul Motor Show. “The weakening yen will become the Japanese automaker’s weapon, they now have reinforcements.”