South Korea’s Ministry of Economy and Finance reported that Deputy Prime Minister and Minister Koo Yun-cheol met US Treasury Secretary Scott Bessent in Washington, D.C., to discuss Korea–US investment cooperation, foreign exchange market developments and supply chain issues including critical minerals. The meeting included a shared view that excessive volatility in the Korean won is undesirable. Koo outlined Korea’s implementation of the Korea–US memorandum of understanding on strategic investment, including the enactment on 12 March of a special act on strategic investment management, which Bessent welcomed. The discussion also covered the impact of the recent Middle East war on the Korean economy and measures to stabilise supply chains for critical minerals, while Koo referenced Korea’s KRW 26.2 trillion supplementary budget funded by excess tax revenue and expressed support for the United States’ G20 priorities on global growth and addressing imbalances, highlighting investment in human capital through AI education. The two finance ministers agreed to continue consultations on foreign exchange market developments.
Ministry of Economy & Finance (South Korea) 2026-04-19
South Korea’s Ministry of Economy and Finance meets US Treasury to advance strategic investment cooperation and coordinate on won volatility
South Korea’s Ministry of Economy and Finance said Deputy Prime Minister Koo Yun-cheol met U.S. Treasury Secretary Scott Bessent in Washington, D.C. to discuss Korea–US investment cooperation, foreign exchange market developments, and supply chain issues including critical minerals, agreeing excessive volatility in the Korean won is undesirable. Koo highlighted implementing the Korea–US strategic investment MOU, including a special act on strategic investment management and a KRW 26.2 trillion supplementary budget, and backed U.S. G20 priorities on global growth and AI-focused human capital investment. They agreed to continue consultations on foreign exchange markets.