S. Korea, China Extend $56 Billion Currency Swap Deal

Write : 2017-10-13 11:36:26 Update : 2017-10-13 13:58:17

S. Korea, China Extend $56 Billion Currency Swap Deal

South Korea and China have agreed to extend their currency swap deal worth 56 billion dollaras for another three years.

BOK Governor Lee Ju-yeol and Finance Minister Kim Dong-yeon told reporters in Washington, Thursday local time, that the two sides agreed to the extension on Tuesday, when the previous deal was set to expire. An announcement, however, was delayed to accommodate a technical review.

The agreement douses speculation that negotiations had been bogged down by a dispute over the installment of a U.S. THAAD missile defense battery in South Korea. 

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