The United States has decided not to designate South Korea as a currency manipulator.

However, the Treasury Department said that it was keeping South Korea on the monitoring list in its latest semiannual report to Congress on Wednesday.

The department said the currency practices of South Korea and five other countries required close attention, but no trading partner met the criteria to be designated as a currency manipulator. 

China, Japan, Germany, Switzerland and India also remained on the monitoring list. 

To be labeled a currency manipulator by the U.S., a trading partner must qualify three conditions: bilateral trade surplus of at least 20 billion dollars, current account surplus of at least three percent of gross domestic product(GDP), and a so-called "persistent, one-sided intervention" where net purchases of foreign currency total at least two percent of GDP over a year.