Korea-US Currency Swap Request Meets No Direct Answer From Bessent Ahead of US Investment

President Lee Jae-myung mentioned a Korea-US currency swap on the 13th during a meeting with US Treasury Secretary Scott Bessent. The move was presented as reflecting Seoul’s view that safeguards for Korea’s foreign exchange market are needed before investment in the United States begins in earnest. As a currency swap is often cited as a liquidity backstop during foreign exchange market instability, the issue drew attention as a key item in Korea-US economic talks. However, Bessent reportedly avoided a direct answer, saying in effect that “Wash will soon take office.” Whether further discussions follow will depend on subsequent consultations. Source: mk.co.kr