South Korea-U.S. Foreign Exchange Agreement Nears Announcement

South Korea and the United States are on the verge of unveiling a new foreign exchange agreement, as confirmed by South Korean Finance Minister Koo Yun-cheol during a press briefing at Incheon International Airport.

According to Yonhap news agency, this forthcoming deal is distinct from the ongoing currency swap discussions tied to bilateral negotiations over President Donald Trump's tariffs on South Korean goods. Despite these discussions, South Korean President Lee Jae Myung has emphasized the need for a foreign exchange swap to honor the nation's $350 billion investment promises to its ally.

As the dialogue continues, South Korea's National Security Adviser Wi Sung-lac reiterated the country's inability to pay the $350 billion upfront, countering suggestions made by President Trump. Minister Koo has refrained from commenting on unrelated reports about potential investment increases.

(With inputs from agencies.)