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Strong Yen Boosts S.Korean Tourism, Hurts Japanese Exporters

Written: 2011-08-03 12:17:35Updated: 2011-08-03 17:34:12

Japanese public broadcaster NHK says Japanese tourists to South Korea rose in July by one-fifth over last year due to the strength of the yen.

NHK said Japan’s strong currency is raising concerns for Japanese manufacturers who are urging their government to address the strong yen, which has hurt their exports price competitiveness.

Japan's Finance Minister Yoshihiko Noda has called for stricter measures to regulate the yen, saying it is severely overvalued.

The Japanese government had hoped the yen would weaken following a U.S. House vote in favor of raising the U.S. debt ceiling on Monday. However, it gained slightly against the greenback to stand at 77-point-22 yen per dollar.

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