South Korean Finance Minister Koo Yun-cheol and U.S. Treasury Secretary Scott Bessent have agreed that excessive volatility in the Korean won is undesirable.
Seoul announced that both nations will continue consultations regarding the foreign exchange market. Secretary Bessent also acknowledged South Korea's commitment to a $350 billion investment in the United States, a key component of their bilateral trade agreement. The ministers met on the sidelines of the G20 finance summit in Washington, D.C.