MoF "Deputy Prime Minister Choi's US Treasury Purchases Unrelated to Recent Exchange Rate Fluctuations"

Choi Sang-mok, Deputy Prime Minister for Economy and Minister of Economy and Finance, attended the Supply Chain Stabilization Committee held at the Government Seoul Office in Jongno-gu, Seoul on the 25th, speaking about vehicle urea solution and critical minerals. 2025.3.25 Photo by Jo Yong-jun

Regarding the controversy over Choi Sang-mok, Deputy Prime Minister for Economy and Minister of Strategy and Finance, purchasing U.S. Treasury bonds, the Ministry of Strategy and Finance recently stated that it is unrelated to recent exchange rate fluctuations.

On the 31st, the Ministry of Strategy and Finance explained, "After retiring from public office in 2017, Deputy Prime Minister Choi prepared for his children's overseas studies and acquired dollars the following year. Using those dollars, he purchased U.S. Treasury bonds with a 30-year maturity in mid-last year," adding, "This is unrelated to recent exchange rate fluctuations."

According to the '2025 Regular Asset Changes of Public Officials' disclosed by the Government Public Officials Ethics Committee on the 27th, Deputy Prime Minister Choi reported holding bond products worth approximately 197.12 million KRW with a 30-year maturity.

In response, some political circles, including the Democratic Party of Korea, criticized, saying, "Deputy Prime Minister Choi bet on the sharp rise in exchange rates and the foreign exchange crisis," and "He bought dollars while the won-dollar exchange rate was in crisis."