Reported about 1 year ago
On June 25th, South Korean Finance Minister Hong Nam-ki and Japanese Finance Minister Taro Aso held a bilateral meeting in Seoul during the ninth Korea-Japan Finance Ministers' Meeting. Both expressed serious concerns about the sharp depreciation of their currencies and agreed to strengthen the currency swap agreement to address the continued weakness of the yen and the won, ensuring exchange market stability. This marked the first meeting in Seoul between the finance ministers of Japan and South Korea in eight years, with a focus on enhancing cooperation on broader economic and social issues. The joint statement emphasized the importance of staying vigilant and timely policy responses to maintain economic growth and financial stability amidst the currencies' significant depreciation against the US dollar in recent months.
Source: YAHOO