The president's top security aide said there has been “no real progress” in discussions between Seoul and Washington regarding a proposed unlimited currency swap. 

National Security Adviser Wi Sung-lac said in a press briefing Thursday that though Seoul had proposed such an arrangement, Washington had not yet "actively taken up or implemented" the idea.

He added that even if a swap agreement were possible, it would be a “necessary" but not sufficient condition that other economic measures were necessary to achieve its goals.

Wi reiterated that there had been no movement on either an unlimited or limited version of the swap, though he acknowledged that details could shift, with Korean negotiators still in Washington for follow-up trade talks.

South Korea had requested the currency swap as a measure to manage its 350-billion-dollar pledged investment in the U.S. economy, as well as a reasonable direct-investment ratio and some influence over the allocation of the funds.

His remarks suggest Seoul is tempering expectations that financial cooperation through a swap arrangement could significantly influence ongoing tariff negotiations with Washington.