BOK issues report backing strong won

The Bank of Korea (BOK) has issued a report supporting the appreciation of the national currency as part of steps to promote balanced growth between domestic demand and exports.

In the report, it concluded that currency appreciation following the currency crisis in 1997 was chiefly responsible for the current anemic domestic demand.

It warned that a sustained policy to keep the Korean won from appreciating would further reduce domestic demand, which in turn would slow exports. It said Korea would

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