Seoul, Tokyo agree to extend $10 bil. currency swap deal by another 3 years
BANGKOK — Korea has agreed with Japan to extend their $10 billion currency swap arrangement, set to expire next month, by another three years, the finance ministry said Thursday, as the two countries seek to further bolster bilateral economic ties. Finance Minister Lee Hyoung-il reached the agreement with his Japanese counterpart, Satsuki Katayama, during a meeting in Bangkok on the sidelines of…
Seoul and Tokyo have extended their $10 billion currency swap arrangement by three years, according to South Korea's finance ministry. The agreement, which was set to expire next month, will now run until November 2029, the ministry said Thursday. The extension comes as the two nations aim to strengthen their economic ties. Finance Minister Lee Hyoung-il reached the deal with his Japanese counterpart, Satsuki Katayama, during a meeting in Bangkok on the sidelines of the IMF and World Bank Group's 2026 Annual Meetings.
The currency swap, which involves the U.S. greenback and was signed in December 2023, was initially set to expire in November 2023. Under the updated agreement, the swap will continue through November 2029, with no changes to its size. Both countries' foreign exchange authorities currently have ample liquidity, the officials noted during the meeting.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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