10. South Korea: Foreign Exchange Could Cause Protectionism

South Korea: Foreign Exchange Could Cause Protectionism October 15, 2010 As chair of the G-20 economic summit, South Korea must “sternly deal with” trade protectionist moves, Finance Minister Yoon Jeung Hyun said during a scheduled meeting of senior trade-related officials, Reuters reported Oct. 15. Due to the slow economic recovery, each country relies more on exports for growth, and tension surrounding foreign exchange rates is intensifying, Yoon stated, adding there are signs that it could develop into trade protectionism.