There are some expectations that the yen will be on the agenda at a meeting of finance ministers from the Group of 20, a gathering of developed and developing economies, next month.
The yen's rapid depreciation has raised concerns globally that governments using monetary policy to weaken their currencies will only prompt others to do the same in order to keep currencies competitive, in turn sparking a "currency war."
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Rhetoric globally regarding currencies has picked up, with German Chancellor Angela Merkel on Thursday expressing concern about currency manipulation and South Korea's finance minister on Wednesday saying Seoul would fight the rapid appreciation of the won, which is hurting exporters.
Asked whether South Korea would be forced to respond to the Bank of Japan by managing the won in a more meaningful way for the country's manufacturers, Kim said: "It all depends upon how markets respond to such moves, and the markets have changed over time… our central bank will do whatever it's supposed to do to protect the high volatilities in the financial sector."
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"And I'm particularly concerned about the volatilities. If changes are made too rapidly, we all know that will create uncertainties and we have to do something to prevent that from happening," Kim added.