South Korea exports recovering, won rise a worry: finance minister
Published on Nov 11, 2012 11:29 AM
SEOUL (REUTERS) - South Korean exports are growing further this month after having snapped a three-month run of declines last month, but the won's rapid appreciation is worrying, Finance Minister Bahk Jae-wan said on Sunday.
The government is "more seriously looking into" whether it needs to tighten regulatory measures on capital flows to stem the won's rise, he added, although he said the gain owed in part to the unexpectedly widening current account surplus.
"Exports so far this month grew and will probably sustain their gradually improving trend," Mr Bahk said during an early morning programme on the public KBS television, without providing figures.
Customs agency data published on its website on Sunday showed exports for the Nov 1-10 period totalled US$14.36 billion (S$17.6 billion), which Reuters calculations show represented a gain of about 6 percent over a year ago.
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