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Korean firms must invest more in R&D against Japanese rivals: KITA
By Korea HeraldPublished : March 25, 2014 - 20:57
Korean exporters should increase their investment in research and development to tide over stiff competition with Japanese firms using the weaker yen in the global market, a report said Tuesday.
Japanese companies are using the weaker yen to generate more profits and strengthen research and development to improve their long-term competitiveness, a report by the Korea International Trade Association said.
A weaker yen can make Japanese products cheaper in foreign markets. The Japanese yen depreciated from an average 78.19 yen to the greenback in September 2012 to 103.45 yen to the dollar as of December 2013.
Japan’s exports reached $714.6 billion last year, down 10.5 percent from 2012, but when calculated in the Japanese yen exports are seen to have increased by 9.5 percent on-year. (Yonhap)
Japanese companies are using the weaker yen to generate more profits and strengthen research and development to improve their long-term competitiveness, a report by the Korea International Trade Association said.
A weaker yen can make Japanese products cheaper in foreign markets. The Japanese yen depreciated from an average 78.19 yen to the greenback in September 2012 to 103.45 yen to the dollar as of December 2013.
Japan’s exports reached $714.6 billion last year, down 10.5 percent from 2012, but when calculated in the Japanese yen exports are seen to have increased by 9.5 percent on-year. (Yonhap)
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Articles by Korea Herald
