S Korea stresses turning yen threat into opportunity

SEOUL, Nov 2 (Reuters): South Korea expressed its concern on Sunday about the possible impact on its export industries from the yen's renewed weakness but stopped short of promising any action aimed at pulling the won's value down.

Ahn Chong-bum, a top presidential economic policy aide, said in his monthly briefing that South Korean companies should turn the yen's JPY= weakening into an opportunity to boost capital investment at home and strengthen their competitiveness.

"Companies need to actively utilize the 'low-yen situation' as an opportunity to increase investment, banking on the falling prices of Japanese-made capital goods and to strengthen competitiveness through structural improvement," a presidential office statement quoted Ahn as saying.