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Japan, South Korea to discuss reviving currency swap deal NHK

In another sign that ties between Japan and South Korea are warming up, financial officials of the two countries are to hold a dialogue for the first time in seven years. The main issue is expected to be resumption of a currency swap deal.

Japanese Finance Minister Suzuki Shunichi and his South Korean counterpart, Choo Kyung-ho, will attend the meeting in Tokyo on Thursday.

Until August 2016, finance ministers and other officials from the two countries regularly held meetings. But they have been suspended since then after relations grew chilly.

A currency swap deal allows countries to exchange foreign currencies in an emergency resulting from volatility in financial markets or other causes.

The accord between Japan and South Korea expired in February 2015.

Resumption of the deal would symbolize improvement of bilateral relations in the financial field.

Officials of the two sides will also discuss cooperation on securing supply chains for key goods and infrastructure investments in Asia and elsewhere.
Summary
Japan-South Korea financial dialogue resumes after a seven-year hiatus, focusing on resurrecting the currency swap deal. The dialogue takes place on Thursday in Tokyo between Japanese Finance Minister Suzuki Shunichi and South Korean counterpart Choo Kyung-ho. Regular meetings were suspended since
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ID: 1c191934-d0c9-4c5e-89fb-c4b7645bcd1f

Category ID: nhk

URL: https://www3.nhk.or.jp/nhkworld/en/news/20230629_03/

Date: June 29, 2023

Created: 2023/06/29 07:30

Updated: 2025/12/09 02:26

Last Read: 2023/06/29 09:04