Bank of Korea Governor Lee Chang-yong Holds Bilateral Meeting with US Treasury Secretary Yellen... Will It Open the Door for Currency Swap?
US Treasury Secretary Visiting Korea for the First Time in 6 Years
Scheduled Bilateral Meeting with Governor Lee at Bank of Korea
Interest in Possible Korea-US Currency Swap Discussions
Yellen Also to Hold Dialogue with Female Bank of Korea Staff
Lee Chang-yong, Governor of the Bank of Korea, will hold a bilateral meeting with Janet Yellen, U.S. Secretary of the Treasury, on the 19th.
According to the Bank of Korea on the 13th, Governor Lee is scheduled to meet Secretary Yellen at the Bank of Korea headquarters on the 19th after she returns to Korea following her attendance at the G20 Finance Ministers and Central Bank Governors Meeting in Bali, Indonesia, on the 15th and 16th.
The governor and Secretary Yellen will discuss the recent global economic and financial market conditions, as well as global policy coordination, for about 40 minutes during the meeting.
This will be the first solo meeting between the Bank of Korea governor and the U.S. Treasury Secretary in about six years since Governor Lee Ju-yeol in 2016. Previously, in June 2016, then-Treasury Secretary Jacob Lew visited the Bank of Korea headquarters for a private meeting with Governor Lee Ju-yeol.
Amid concerns over a global economic downturn and the Federal Reserve's tightening measures causing the won-dollar exchange rate to soar, it is analyzed that stabilization measures such as currency swaps will be discussed. Secretary Yellen served as Chair of the Fed from 2014 to 2018.
The Bank of Korea explained, "Specific details such as the schedule and attendees are currently being coordinated."
After the bilateral meeting, Secretary Yellen will also hold a discussion with Bank of Korea staff for about 20 minutes.
Hot Picks Today
As Samsung Falters, Chinese DRAM Surges: CXMT Returns to Profit in Just One Year
- "Most Americans Didn't Want This"... Americans Lose 60 Trillion Won to Soaring Fuel Costs
- Man in His 30s Dies After Assaulting Father and Falling from Yongin Apartment
- Samsung Union Member Sparks Controversy With Telegram Post: "Let's Push KOSPI Down to 5,000"
- "Why Make Things Like This?" Foreign Media Highlights Bizarre Phenomenon Spreading in Korea
Secretary Yellen plans to deliver a message encouraging the achievements of women and share her reflections as a female economist under the theme "Women in Economics." Thirty female employees will attend the discussion and have a Q&A session with Secretary Yellen.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
