Finance ministers of South Korea and Japan discuss weakening of their national currencies
By Alimat Aliyeva
The finance Ministers of the Republic of Korea and Japan, Choi
Sang Mok and Shunichi Suzuki, discussed the weakening of their
national currencies. This was announced by the Ministry of Planning
and Finance of the Republic of Korea, Azernews
reports.
On June 25, the ninth meeting of the bilateral dialogue at the
level of finance ministers was held in Seoul. Choi Sang Mok and
Shunichi Suzuki said that the region’s economy is recovering faster
than the global average.
“However, they noted the persistence of uncertainty factors,
including ongoing geopolitical conflicts, a possible slowdown in
the economic growth of [their] major trading partners, and
increased volatility in the foreign exchange market. They also
shared serious concerns about the recent sharp weakening of the
Korean won and the Japanese yen,” the press release said.
The finance Ministers of the Republic of Korea and Japan said
they were acting together in connection with the special military
operation in Ukraine. According to them, it has led to an
aggravation of economic risks in the field of supply chains, energy
and food security.
Representatives of South Korea and Japan also agreed to further
facilitate the exchange of information between customs authorities
in order to prevent circumvention of sanctions against the Russian
Federation and the DPRK.
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