South Korea’s foreign exchange authorities are maintaining close communication with the U.S. Treasury and will continue to do so following Washington's decision to keep its ally on its currency monitoring list. 

A presidential office official said Friday that the currency report had reaffirmed that the recent won weakness does not align with South Korea’s economic fundamentals.

The official, however, added that the redesignation of South Korea on the list appeared to have been made in a somewhat mechanical manner based on the Treasury’s assessment criteria.

In its latest semiannual currency report, the Treasury added South Korea and nine other countries to its monitoring list.

South Korea was first added to the list in April 2016, removed in November 2023 and then reinstated by the Trump administration in November 2024.