South Korea's Ministry of Economy and Finance announced that Deputy Prime Minister and Minister Lee Hyoung-il and Japanese Finance Minister Katayama Satsuki agreed to extend the bilateral currency swap at its existing USD 10 billion size. The agreement was reached during a meeting in Bangkok, ahead of the swap's scheduled expiry in 2026. The ministers recognized that both countries' foreign exchange authorities have sufficient foreign currency liquidity but retained the arrangement as a symbol of bilateral financial cooperation and coordination. The current three-year swap was signed in December 2023. They also agreed to hold the next Korea-Japan finance ministers' meeting in South Korea at an early date, following an agreement reached at the previous meeting in Tokyo in March.
South Korea's Ministry of Economy and Finance agrees to extend USD 10 billion currency swap with Japan
South Korea and Japan agreed to extend their bilateral currency swap at its existing USD 10 billion size beyond its scheduled 2026 expiry. The finance ministers also agreed to hold their next bilateral meeting in South Korea at an early date.