During a briefing later that day, Chief Blue House Spokesperson Kang Yu-jung stated, "President Lee met with Secretary Bensent at the Blue House and noted that despite recent uncertainties, the economies of both countries are showing stability." She added, "He emphasized the need for close communication between the two nations to strengthen economic cooperation and maintain positive momentum."
Kang further noted, "The President highlighted the necessity for cooperation in the foreign exchange market," to which Secretary Bensent responded by agreeing with President Lee's views on the importance of Korea-U.S. collaboration moving forward.
A currency swap is a foreign exchange transaction in which two parties exchange different currencies at an agreed-upon exchange rate for a specified period.
South Korea has entered into currency swaps with the United States twice in the past, during the global financial crisis in 2008 and at the onset of the COVID-19 pandemic in 2020, to stabilize its foreign exchange market amid international financial turmoil.
Last year, the South Korean government also proposed a won-dollar currency swap to the U.S. during tariff negotiations.
However, a Blue House official stated that they could not confirm the specifics of President Lee's proposal regarding the Korea-U.S. currency swap.
* This article has been translated by AI.
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