US puts South Korea on foreign exchange monitoring list

A report from the US Treasury Department released on November 14 said the US has put South Korea back on the list of countries to monitor for foreign exchange policies, a year after South Korea was removed from the list.

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Economies will be placed on Washington's watch list if they meet two of the following three criteria: a bilateral trade surplus with the US of $15 billion or more; a current account surplus exceeding 3% of gross domestic product (GDP); and continuous intervention in the foreign exchange market for at least 8 months a year, with the total value of net foreign currency purchases reaching at least 2% of that economy's GDP in 12 months.

According to Chosun Daily , South Korea "meets" the first two criteria, by June 2024, its trade surplus with the US will reach 50 billion USD and its annual current account surplus will reach 3.7% of GDP.

Source: https://thanhnien.vn/my-dua-han-quoc-vao-danh-sach-giam-sat-ngoai-hoi-18524111520380423.htm