S. Korea may intervene if yen continues slide

A senior South Korean finance ministry official has told Reuters that the government is prepared to intervene in the foreign exchange market if necessary, with the yen continuing to depreciate - Reuters Photo.

SEJONG: The yen's fall against the won has been expected to some extent but South Korea will closely monitor the situation and take action if necessary to mitigate any impact on the economy, Finance Minister Hyun Oh-seok said on Thursday.

"The US is reducing its quantitative easing while Japan is strengthening its own programme, so the yen's depreciation is inevitable," Hyun told reporters.