Korea refloats currency swap with US

South Korea is again pushing to establish a bilateral currency swap arrangement with Washington to help stabilize the local won amid mounting pressure from the Middle East conflict and an anticipated surge in investment flows to the US. President Lee Jae Myung reportedly proposed the idea in a meeting with US Treasury Secretary Scott Bessent, who met with Lee at Cheong Wa Dae on Wednesday. Korea had previously proposed an unlimited currency swap arrangement following trade talks last year, but W

By The Korea Herald