The presidential office said that the two countries were discussing cooperation measures equivalent to currency swaps to stabilize the foreign exchange market.
Kim Tae-hyo, first deputy director of the National Security Office, suggested the possibility of a discussion when asked whether currency swap discussions might proceed at the Korea-US summit at a briefing today at the Yongsan presidential office.
However, Deputy Director Kim said that he thinks it is unreasonable to use the term currency swap even though the fundamentals of the Korean economy are solid.
He added that the Korea-U.S. summit is discussing issues of stability in international finance, financial and foreign exchange markets and smooth and prompt cooperation between Korea and the United States.
Some argue that the Korea-US currency swap, which ended on December 31 of last year, should be renegotiated with the aim of eliminating instability in the foreign exchange and financial markets in conjunction with the Korea-US summit.
YTN Park So-jeong ([email protected])
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