Kang Yujeong, spokesperson for the Presidential Office, is briefing at the Yongsan Presidential Office on the 28th regarding the emergency response meeting on the fire at the National Intelligence Resource Management Agency, chaired by President Lee Jae-myung that morning. Photo by Yonhap News
The Presidential Office stated on September 28 that Deputy Prime Minister and Minister of Economy and Finance Koo Yooncheol's "exchange rate negotiations" were related to the issue of being designated as a currency manipulator.
Kang Yujeong, spokesperson for the Presidential Office, said during a briefing at the Yongsan Presidential Office that day, "As far as I have confirmed, the negotiations were not linked to tariff issues."
Deputy Prime Minister Koo, upon returning to Korea through Incheon International Airport on the 27th, told reporters, "Negotiations with the United States regarding the exchange rate have been completed this time, and we plan to announce the results soon." This led to speculation that discussions on a Korea-US currency swap may have taken place in connection with the management of the 350 billion US dollar Korea-US investment fund.
However, spokesperson Kang said, "The United States makes decisions regarding the designation of other countries as currency manipulators," and added, "As far as I know, it was determined that Korea is not a currency manipulator."
She also emphasized, "Tariff negotiations are ongoing with the national interest as the top priority."
Currently, Korea is classified as a "currency monitoring country," which is one step below being designated as a currency manipulator.
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