Here goes Jack’s question 2:

May I ask something about the last lecture, as I am not familiar with few economic concepts. By means of devaluation, SK made its goods cheaper to foreign countries, stimulating a higher demand. Also with the sales overseas, the USD to KRW rate favored Korean Chaebols. However, would there be any side effects by implementing devaluation policy? Or rather than the effect after implementation, but the means to achieve devaluation already harmed the domestic economy, like policies made when dealing with foreign currency (or the Korean government just said so)? One explicit example I can think of is the harm towards foreign tourism industry since if the exchange rate is not favorable to local Koreans, they won't go overseas for traveling.

And this is my answer:

That’s true! Devaluation has quite a few side effect inside the country.

Because domestic currency became less valuable, the price of imported goods price increases in domestic market. And foreigners’ visit to home country is more expensive which reduce tour industry surplus. So we say, in economics, that devaluation is increasing the benefit of exporters through the sacrifice of importers.