Japan, South Korea should expand mutual economic interests

Currency swap agreement is positive step in improving bilateral relations

2023-07-05 Editorial Japan South Korea currency swap

Japan and South Korea agreed on the bilateral currency swap arrangement at a "finance ministerial dialogue" held on June 29 in Tokyo. © Kyodo

Japan and South Korea have agreed to resume, after an eight-year hiatus, a currency swap deal under which the two countries will lend each other foreign currencies during financial crises. The decision to extend their cooperation to the economy and finance is a welcome move that will promote more stable relations between the neighbors.

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