The United States has kept South Korea on its watchlist of major trading partners whose currency practices call for closer attention.

In a semiannual foreign-exchange report released on Thursday, the U.S. Treasury Department kept South Korea on its monitoring list for currency practices alongside eight other countries including China and Japan. 

South Korea was removed from the list for the first time in seven years in November 2023, but placed back on the list in November last year.

The Treasury Department evaluates the macroeconomic and exchange rate policies of its top trading partners. 

Countries that meet two of the department’s three criteria are designated as “watchlist” countries, and those that meet all three are considered potential currency manipulators that require “enhanced analysis.”