On the 27th, Vice Prime Minister and Minister of the Ministry of Economy and Finance Koo Yun-cheol said, "Consultations with the United States on the exchange-rate negotiations have been completed," adding, "We plan to announce it soon."
Vice Prime Minister Koo said this while meeting with reporters upon returning to Korea after finishing his U.S. schedule at Incheon International Airport on the afternoon of the same day. Vice Prime Minister Koo said, "The president first met with Minister Besant, and I also attended," adding, "The president had remarks related to trade negotiations and a currency swap." He then said, "I subsequently held bilateral talks with Minister Besant and explained in detail Korea's foreign-exchange situation and the need for a currency swap."
Regarding the possibility that the currency-swap negotiations could be rejected, Vice Prime Minister Koo said, "Minister Besant is fully aware of our foreign-exchange situation," adding, "We also talked about a few other matters, so I think those aspects will be taken into account." On expectations that the United States would demand that Korea increase its investment in the U.S., he said, "I have not heard such talk."
However, Vice Prime Minister Koo did not mention specific details of the exchange-rate negotiations. The exchange-rate negotiations that Vice Prime Minister Koo said had been completed are separate from the currency swap and are expected to be one of the agenda items of the "July package" announced on Apr. 4th.