Korea prepares for possible currency manipulator label
Central bank comments came ahead of US Treasury foreign exchange report next month
South Korea’s central bank governor is raising the need for preemptive efforts to ensure that Seoul isn’t designated a “currency manipulator” when the US Treasury issues its foreign exchange report next month, reports Joongang Daily.
Governor Lee Ju-yeol said that despite what he cited as a low likelihood of being labeled a currency manipulator, the possibility cannot be ruled out.
The cautious stance comes after Korea was put on a monitoring list by the US Treasury last year, and as the Trump administration has made a priority out of lessening trade surpluses with trading partners.