South Korean minister warns on economy
Korean honcho sees possible pitfalls in exchange rate, housing market
South Korea's Economics and Finance Minister Kwon O-kyo has warned that the country’s economy is vulnerable to a housing price shock or a correction to the currency. Kwon said: "A sudden housing price plunge is one of the major risks that could arise within South Korea." He added that short-term overseas borrowing and the carry trade had contributed to the rapid rise of the won to the US dollar – last year, the won rose 9%. Kwon also said that "a sudden liquidation of yen carry trade is another
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