Korea and US finance ministers discuss cooperation in the foreign exchange market… Willing to provide liquidity

The heads of economic affairs in the United States and South Korea were found to be discussing global economic trends and cooperation in the foreign exchange market.

According to Yonhap News on the 1st, Deputy Prime Minister and Minister of Strategy and Finance Choo Kyung-ho and US Treasury Secretary Janet Yellen held a conference call the day before.

“The tightening global financial environment is putting a significant burden on the Korean economy,” said Deputy Prime Minister Chu.

Deputy Prime Minister Choo and Minister Yellen evaluated that the foreign currency liquidity position of the Korean economy is good despite the recent sharp increase in the dollar-earned exchange rate.

He also confirmed the willingness of both countries to work closely together to implement a liquidity supply mechanism in case financial instability worsens.

“The fact that the financial authorities of the two countries meet frequently to discuss current issues is evidence of a strong cooperative relationship between South Korea and the United States,” said Deputy Prime Minister Chu.

Hyo-rim Jeong Bloomingbit Reporter [email protected]

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