Annual cap on US investment better for S. Korea than currency swap
SEOUL: Finance Minister Koo Yun-cheol said on Thursday that South Korea's agreement with the United States to cap annual cash investments at $20 billion without establishing a currency swap arrangement is more "advantageous" for the national interest.
Koo made the remarks during a parliamentary audit, one day after South Korea and the US finalised their tariff agreement, which includes a $200 billion cash investment in the US with annual investments capped at $20 billion, as part of a broader $350 billion investment pledge, reports Yonhap news agency.
The remaining $150 billion will be allocated to bilateral shipbuilding cooperation projects.
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