The company has used weakness in the South Korean won
-- which makes it products more competitive against Japanese rivals -- and aggressive marketing to increase market share.
The South Korean won
has faced massive selling pressure as foreign investors have withdrawn capital amid the crisis.
KCC's environmentally friendly brand SUPRO, which consists of water-based products, has proved to be successful over the years with company declared sales expanding from an initial South Korean Won
KRW200 million (US$212,000) in 2003 to KRW10 billion (US$10.
75 million tons in 1997, reflecting a decline in the value of the South Korean won
and lower production costs and the resulting drive by the South Korean firms to run their shipbuilding facilities at full capacity.
However, plunges in the South Korean won
and the Japanese yen will translate into large competitors from those countries coming to market more cheaply.
2 The successful hedge of South Korean shipbuilding industry from the appreciation of South Korean Won
The South Korean won
touched a near six-year peak, while Malaysia's ringgit hit a near seven-month high.
The bank said that South Korean won
would extend Asia's best rally since June, on speculation that the nation will elect a new president next month who is more willing to tolerate a stronger currency.
FXDD will offer the following NDFs: Malaysian Ringgit, South Korean Won
, Chinese Yuan, Taiwan Dollar, Indian Rupee, Indonesian Rupiah, Russian Ruble, Brazilian Real, Columbian Peso, Peruvian Nuevo Sol, Argentine Peso, Chilean Peso, and the Philippine Peso.
The Australian dollar and the South Korean won
, both of which are extremely vulnerable to turns in demand for risk, also suffered.
Wang noted the most important factors impacting the exports of Taiwan-made machinery include China's raising of threshold on imported machinery, the 20%-30% devaluation of the South Korean won
against the greenback, and volatile prices of raw material as steel.
Asian Development Bank President Haruhiko Kuroda on Friday denied the possibility that a critical situation akin to the 1997-1998 currency crisis in the region will occur in the near future, despite the recent falls of the South Korean won
and other Asian emerging currencies against the U.