SEOUL, Sept. 25 (Korea Bizwire) — A top South Korean presidential aide said Wednesday that a potential currency swap with the United States is an essential safeguard in ongoing trade talks, but not sufficient on its own to resolve the thorny negotiations. Kim Yong-beom, presidential chief of staff for policy, told reporters in New York [...]
SEOUL, Dec. 8 (Korea Bizwire) — Vice finance ministers of South Korea, China, Japan and the Association of Southeast Asian Nations (ASEAN) have agreed to improve a currency swap mechanism as part of efforts to boost overall financial cooperation, Seoul’s finance ministry said Friday. The consensus was reached during the two-day regular meeting of the [...]
SEOUL, Feb. 8 (Korea Bizwire) – South Korea’s central bank said Wednesday it has extended a currency swap agreement with its Australian counterpart, a move that could further strengthen bilateral financial cooperation. The three-year deal, which went into effect earlier in the day, allows for the exchange of up to 9 trillion won or AU$10 [...]
SEOUL, April 12 (Korea Bizwire) – South Korea and China on Monday agreed to extend their currency swap deal scheduled to expire next year in a bid to better cope with possible fallout stemming from mounting financial market uncertainties and widely expected U.S. rate hikes. South Korea’s Finance Minister Yoo Il-ho met with People’s Bank of [...]