(Bloomberg) -- South Korea's won fell from a two-week
high after the government cut taxes on earnings from funds that
invest in stocks abroad, as part of efforts to boost outflows and
curb gains in the currency.
The Ministry of Finance and Economy late yesterday said
starting June 1 it will exempt the funds from the 14 percent tax.
A 1.5 percent gain in the won in the past three months, compared
with the yen's 2.5 percent slide, threatens exports by making
them more expensive to overseas buyers relative to Japan's.
Read more at Bloomberg Currencies News
high after the government cut taxes on earnings from funds that
invest in stocks abroad, as part of efforts to boost outflows and
curb gains in the currency.
The Ministry of Finance and Economy late yesterday said
starting June 1 it will exempt the funds from the 14 percent tax.
A 1.5 percent gain in the won in the past three months, compared
with the yen's 2.5 percent slide, threatens exports by making
them more expensive to overseas buyers relative to Japan's.
Read more at Bloomberg Currencies News
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