The Presidential Office explained that the "Korea-U.S. exchange rate talks" mentioned by Deputy Prime Minister and Minister of Economy and Finance Koo Yoon-cheol referred to the issue of designation as a currency manipulator, not a tariff negotiation.
Presidential Office Spokesperson Kang Yoo-jung said at a briefing on the 28th, "What Minister Koo said regarding the exchange rate was not a consultation linked to a tariff issue," adding this explanation.
She went on, "The United States makes a determination each year on whether to designate (other countries as) currency manipulators," and said, "As far as I know, there was a part stating that 'Korea is not a currency manipulator.'"
The previous day at Incheon International Airport, Deputy Prime Minister Koo told reporters, "Consultations with the United States on exchange rate talks have been completed this time, and we plan to announce them soon." This led to speculation that discussions on a Korea-U.S. currency swap were conducted in tandem with tariff negotiations.
Korea is currently classified as being on the "monitoring list for currency practices," a step below designation as a currency manipulator. The "exchange rate talks" Koo mentioned are presumed to have been consultations to reduce the risk of being designated a currency manipulator.
On the Korea-U.S. tariff negotiations, Spokesperson Kang stressed, "We are proceeding continuously with the national interest as the top premise."