Bessent's comments show importance of FX stability in US-South Korea cooperation, Seoul says

Group 1 - U.S. Treasury Secretary Scott Bessent emphasized the significance of foreign exchange stability for economic cooperation between South Korea and the U.S. [1][2] - The recent depreciation of the Korean won was discussed, with Bessent noting it does not align with South Korea's economic fundamentals [2] - South Korean Deputy Finance Minister Choi Ji-young highlighted that currency stability is crucial for the $350 billion U.S. investment pledged by South Korea [1][3] Group 2 - Finance authorities from both countries will closely communicate and cooperate on foreign exchange market stability, with prior agreements to delay investments during market instability [3] - The deal allows South Korea to request adjustments in the investment amount and timing if it risks causing volatility in the foreign exchange market [4] - The Bank of Korea indicated an end to its easing cycle due to concerns over the weak won, while measures to control foreign exchange volatility were promised [4][5] Group 3 - New macro-prudential policies are being considered to address discrepancies between foreign exchange conditions and macroeconomic fundamentals [5] - A bill to establish a special fund for financing the $350 billion investment package was introduced by South Korea's ruling Democratic Party but has not yet been passed [5]