South Korea Says It’s Not Designated as Currency Manipulator by US
(MENAFN) The South Korean presidential office stated on Sunday that the United States has not classified South Korea as a currency manipulator, according to a report from a Seoul-based news agency.
Officials from both countries have engaged in discussions about the possibility of Seoul being designated a currency manipulator, the presidential office revealed.
This announcement came after remarks from Finance Minister Koo Yun-cheol regarding the completion of foreign exchange (FX) negotiations between the two allies.
Upon his return from the US, Koo informed reporters on Saturday that the FX talks with the United States had concluded, and the results would be disclosed shortly.
His comments fueled speculation about advancements in Seoul’s efforts to establish a currency swap agreement with the US, a strategy designed to mitigate potential FX market disruptions caused by South Korea’s significant investments in the US.
Nevertheless, presidential spokeswoman Kang Yu-jung clarified that the FX discussions mentioned by Koo were unrelated to tariff negotiations.
"The US has determined whether or not to put some other countries on its list of currency manipulators. Regarding this, it's believed that it has not judged South Korea to be a currency manipulator," Kang explained.
In June, the United States kept South Korea on its monitoring list due to the nation’s trade and current account surpluses.
While South Korea has not been officially labeled a currency manipulator, it has remained on the list since November 2024.
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