SEOUL, March 28 South Korea's Kia Motors
is worried about the sharp decline in the value of
the yen, which is aiding Japanese rivals, an executive at the
affiliate of Hyundai Motor said on Thursday.
The South Korean won has risen 4 percent versus the yen this
year after a 23 percent jump last year, further reducing the
currency advantage that benefited South Korean automakers since
the global financial crisis.
"The yen is the biggest threat to us, so we are closely
monitoring the yen's moves," Lee Soon-nam, Kia's overseas
marketing head, told reporters on the sidelines of Seoul Motor
Show that kicks off on Thursday.
He said Japanese automakers have been giving far more
incentives than Kia in the key U.S. market since late last year.
"Japanese automakers now have weapons," he said.
(Reporting by Hyunjoo Jin; Editing by Edwina Gibbs)