(Reuters) – U.S. President Joe Biden and South Korean President Yoon Suk Yeol upgraded their commitment to cooperate on maintaining stability in foreign exchange markets at a summit on Wednesday, a senior South Korean economic official said.
“It is meaningful that (the two leaders) expressed their willingness to actively cooperate for the financial stability at a higher level than before,” Choi Sang-mok, senior presidential secretary for economy, told reporters in Washington.
Biden and Yoon said in a statement following the summit that the two countries “will continue to consult closely on foreign exchange market developments to promote sustainable growth and financial stability”.
It was a reaffirmation of a commitment made last year but was an upgrade in the sense that it was included in the statement after the summit meeting held on the occasion of President Yoon’s state visit, Choi said.
(Reporting by Choonsik Yoo; Editing by Sonali Paul)