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Korea, U.S. agree to continue consultations on forex developments

Published: 19 Apr. 2026, 20:03

JIN MIN-JI
[email protected]

Finance Minister Koo Yun-cheol, left, shakes hands with U.S. Treasury Secretary Scott Bessent during his visit to New York to attend the Korea Investment Summit on Sept. 24, 2025. [NEWS1]

Finance Minister Koo Yun-cheol and U.S. Treasury Secretary Scott Bessent agreed to continue consultations on foreign exchange market developments, said Korea’s Ministry of Finance and Economy on Sunday, as the won remains persistently weak against the dollar.

“Both ministers agreed that excessive volatility in the Korean won is not desirable and agreed to continue consultations on foreign exchange market developments,” said the ministry in a statement following Koo and Bessent’s meeting in Washington on Friday.

Koo visited the United States to attend the Group of 20 Finance Ministers and Central Bank Governors Meeting.

Bessent expressed support for Korea’s passage of a special bill to pave the way for Seoul’s investment commitments in the United States, according to the ministry. It added that the two also discussed the impact of the Iran war on the Korean economy and shared views on measures to stabilize supply chains, including those for critical minerals.

BY JIN MIN-JI [[email protected]]