Choo Kyung-ho "Discussed Currency Swap Agreement at Korea-Japan Finance Ministers Meeting"

Revealed at the Kwanhun Debate on the 8th
"Reversal of Growth Relationship with Japan? Virtuous Cycle is Important"

Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho stated on the 8th, "We plan to discuss the conclusion of a currency swap agreement between South Korea and Japan at the Korea-Japan Finance Ministers' Meeting."

Deputy Prime Minister Choo announced at the 'Choo Kyung-ho Deputy Prime Minister Invitational Kwanhoon Debate' held at the Korea Press Center in Seoul that the Korea-Japan Finance Ministers' Meeting, which will be held for the first time in seven years at the end of this month, will discuss the Korea-Japan currency swap. The Korea-Japan currency swap was fully suspended in 2015.

He said, "Japan is also a very important economic cooperation partner for us," adding, "If we strengthen economic cooperation with Japan, Japan's materials, parts, equipment, and basic science will harmonize with our industrial technology, greatly contributing to the development of various advanced industries in the Republic of Korea."

He continued, "As Korea-Japan relations improve, many of our citizens are traveling to Japan, and Japanese citizens also visit our country for tourism and other purposes," adding, "We plan to increase the number of flights to up to 1,000 per week during the peak season in the second half of the year."

Deputy Prime Minister Choo said, "There are concerns that as the Japanese economy improves, the growth relationship between us might be reversed, but if Japan recovers, it will be beneficial to us, so a virtuous cycle is important," and added, "We will do our best to achieve meaningful results."

Deputy Prime Minister for Economy Choo Kyung-ho is attending the Economic Deputy Prime Minister Invitation Kwanhoon Debate held at the Press Center in Jung-gu, Seoul on the 8th. Photo by Dongju Yoon doso7@