Seoul’s finance minister is rejecting claims
that South Korea manipulates its currency to make its goods more competitive in trade…
and says he’s confident it will not be labeled as a currency manipulator by the U.S.
Finance Minister Kim Dong-yeon met with U.S. Treasury Secretary Steven Mnuchin on Saturday
in Washington, on the sidelines of the G20 Finance Ministers and Central Bank Governors
meeting,… where he explained that Seoul leaves its currency up to the market, and
that there is no reason for Korea to be designated as a manipulator. The U.S. currency report is due out in the
next few days. Back in April, Korea was put on the currency
watch list for the third straight time. The two also discussed other pending economic
issues,… including the renegotiation of the two countries’ FTA. On that issue, Kim reiterated the importance
of making sure both countries benefit.