Around the World's Markets: SOUTH KOREA

Click to follow
The Independent Online
SOUTH KOREA's main stock index plunged 8.1 per cent to its lowest level in more than 11 years, on concern the yen's unrelenting slide will capsize exporters and extend the country's recession.

The yen's frailty makes Japanese exports cheaper and puts pressure on Korea to let its own currency weaken to boost overseas sales. This would make it harder for Korea to lower interest rates, condemning thousands of companies to bankruptcy.