Korea, Japan agree to extend $10 billion currency swap
Deputy Prime Minister Lee Hyoung-il and Japanese Finance Minister Satsuki Katayama agreed in Bangkok to roll over the won-dollar swap line at its current size and to hold their next finance ministers' meeting in Korea.
South Korea's finance ministry said Thursday that Deputy Prime Minister Lee Hyoung-il and Japanese Finance Minister Satsuki Katayama agreed to extend their countries' currency swap, a $10 billion line that was due to expire this year.
The two met in Bangkok and agreed to roll the arrangement over at its existing size, citing the importance of the swap as a symbol of financial cooperation between the two countries. The two sides shared the view that their foreign exchange authorities currently hold sufficient foreign currency liquidity.
The swap was signed in December 2023 for a three-year term, denominated in U.S. dollars at $10 billion, and had been scheduled to mature this year.
Separately, the two ministers agreed to hold their next finance ministers' meeting in Korea at an early date, following up on an understanding reached at the 10th Korea-Japan Finance Ministers' Meeting held in Tokyo in March.
What this article is based on
Every fact in this article can be checked against the primary documents below.
- Government재정경제부 재정경제 보도자료· Ministry of Economy and Finance· accessed Oct. 16, 2026
- Government한일 통화스왑 연장 합의· korea.kr· accessed Oct. 16, 2026
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