The United States has kept South Korea on its list of countries to monitor for their foreign exchange policies, with currency policy expected to be included in the two sides' trade negotiations.

According to the U.S. Treasury Department's report to Congress on Thursday, South Korea remains on the updated list along with eight other countries and regions, including China, Japan, Singapore, Taiwan, Vietnam, Germany, Ireland, and Switzerland.

South Korea was first added to the list in April 2016 and was removed in November 2023, before being put back on by the Trump administration last November.

The Treasury Department said South Korea’s current account surplus grew significantly during the review period, reaching five-point-three percent of its GDP in 2024, up from one-point-eight percent the year before.

The report said the expansion was led by a rise in the country's trade surplus in commodities, with trade surplus against the U.S. standing at 55 billion U.S. dollars last year, up from 14 billion dollars in 2023.

U.S. trading partners are placed on the list if they meet at least two of the three criteria set by the U.S. Trade Facilitation and Trade Enforcement Act of 2015, including a trade surplus with the U.S. of at least 15 billion dollars and a current account surplus of at least three percent of GDP.