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Pres. Office: Yoon, Biden May Touch upon FX Market Concerns

Written: 2022-09-19 07:00:22Updated: 2022-09-19 15:17:15

Pres. Office: Yoon, Biden May Touch upon FX Market Concerns

Photo : YONHAP News

The presidential office says leaders of South Korea and the U.S. will likely discuss measures to stabilize the foreign exchange market during their upcoming summit as it is an issue of mutual concern.

President Yoon Suk Yeol is scheduled to hold talks with U.S. President Joe Biden next week on the sidelines of the United Nations General Assembly in New York.

According to senior presidential secretary for economic affairs Choi Sang-mok, the planned summit will naturally cover the issue, as the leaders had previously agreed to hold close consultations on the currency market in their summit in May.

The secretary, however, cautioned against speculation that a possible currency swap will be an official summit agenda, stressing that such discussions are usually led by central banks, not presidents.

He was quick to add that the leaders may touch upon the matter in broad terms before their central banks follow up with detailed discussions.

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