Local exporters saw their net fall in 2012 from a year earlier, data showed Wednesday, as the weak Japanese yen apparently dealt a harsh blow to their price competitiveness and global sales.

Top 500 South Korean firms' net nosedived 7.8 percent to reach 98 trillion won ($88.1 billion) last year from 2011, according to data compiled by CEO Score, a local corporate research firm.

Chemical firms led the overall decline, with their operating profit moving down 50.5 percent in 2012 from a year earlier.

Shipbuilders also saw their operating profit decline 48.2 percent over the cited period.

Steelmakers' operating profit shed 31 percent, while carmakers also remained stagnant by posting a 8.1 percent growth over the cited period.

In contrast, technology companies gathered ground due to robust global sales on the back of their new product line-ups, with their operating profit soaring 81 percent in 2012 from a year earlier, the data also showed.

Market watchers said the dull performance in major sectors came as the weak Japanese yen inflicted foreign exchange losses on exporters, making their goods more expensive overseas and hurting firms that compete with Japanese firms.

The yen has been trading lower against other currencies as Tokyo aimed to boost its economy via so-called Abenomics -- a mixture of aggressive monetary and fiscal policies preached by Japanese Prime Minister Shinzo Abe.

On May 9, the Japanese currency weakened past a key support level of 100 yen per dollar for the first time in four years.

Market watchers said the volatile Japanese financial market is anticipated to dent Asia's fourth-largest economy down the road, especially when Japan's stimulus measures fail to boost its economy.

The average earnings of Japanese households remained flat despite the improved earnings of their companies amid the quantitative easing policies, sparking concerns over the falling consumer sentiment.

"If Abenomics fails to boost the economy, it will have an adverse impact on the country's sovereign rating and drive them to depreciate the yen even further," said Oh Tae-dong, a researcher at LIG Investment & Securities Co.

Lee Kyung-soo, a researcher at Shinhan Investment Corp., echoed the view, adding the rising yields of Japanese bonds may also have an adverse impact on the local stock markets as it dents investors' sentiment.

Market watchers added the South Korean government should continue to pay close attention to the won-yen exchange rate movement, bracing for a possible sudden currency fluctuation. (Yonhap News)