Korea joins currency concerns

SEOUL - The strengthening of the South Korean won has sparked fears of problems in the export-oriented economy, similar to those of Thailand, a report said Thursday.

  • Published: 31/01/2013 at 10:07 AM
  • Newspaper section: breakingnews

The strong currency has left the economic indicators stagnant, data showed, a report by Yonhap news agency said.

"South Korea's poor standing came as its currency continued to appreciate against the US dollar and the Japanese yen, while the amount of household debt also increased last year," the same types of problems reported in Thailand.

Household debt had reached 70 per cent of GDP as of the end of last September, the report said - 930 trillion won, the equivalent of US$854 billion or 25.5 trillion baht.

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