South Korea Finance Minister says will speak with U.S. Treasury Secretary soon

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Seoul | Published: February 16, 2017 9:50:01 AM

He did not give details on what he hoped to discuss with the Treasury Secretary, but expressed concerns that he has about the won and a Financial Times report that accused South Korea and Taiwan of undervaluing their currencies.

"There is some severe volatility (in the currency market)," Yoo said. (Reuters)“There is some severe volatility (in the currency market),” Yoo said. (Reuters)

South Korea’s finance minister said on Thursday he will speak with the U.S. Treasury Secretary soon, after expressing concerns about media reports that described the won as an undervalued currency. Yoo Il-ho said officials are arranging a time for a phone conversation with Steven Mnuchin. He did not give details on what he hoped to discuss with the Treasury Secretary, but expressed concerns that he has about the won and a Financial Times report that accused South Korea and Taiwan of undervaluing their currencies. “There is some severe volatility (in the currency market),” Yoo said. “As for the yen-won cross rate, we’re monitoring that, and we need to see if (the won’s strength against the yen) will continue.”

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