South Korea, US Finalize FX Deal: Crisis Averted?
Update: 2025-09-28
Description
South Korea and the U.S. just finalized a new foreign exchange agreement, but details are scarce. While not a currency swap tied to tariff negotiations, it aims to support South Korea's massive $350 billion investment pledge. President Lee warns of a potential 1997-style financial crisis if U.S. demands are met without economic safeguards, especially regarding upfront payments. Can this deal bridge the gap, ease tariff tensions, and prevent a financial showdown?
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