SEOUL -- South Korea could reinstate the currency-swap agreement with Japan that was terminated last year, incoming finance minister Yoo Il-ho said Monday.
Yoo, slated to become deputy prime minister for economic affairs and minister of strategy and finance, said in response to a question at a National Assembly hearing that South Korea must prepare for any pressure to raise interest rates after the U.S. took such action in December. Yoo said a response strategy was essential even though he thought the impact would be limited, and he cited resuming the agreement with Japan for emergency currency swaps as part of South Korea's efforts to expand such arrangements.
