South Korean firms hit hard by weaker yuan

China Daily (Canada) - - BUSINESS -

Two of South Korea’s big­gest cos­met­ics and tourism com­pa­nies, re­liant on Chi­nese de­mand, are strug­gling in the face of the yuan’s re­cent de­pre­ci­a­tion. Shares in AmorePa­cific Corp, a cos­met­ics firm that counts China as its sec­ond-big­gest mar­ket, had more than dou­bled in the 12 months be­fore the Chi­nese cur­rency lost ground. Ho­tel Shilla Co, which had been ben­e­fit­ing from an in­flux of main­land tourists, had ral­lied 20 per­cent.

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