Bessent Welcomes "Special Act on Investment in the U.S."... Stresses Need to Reduce Exchange Rate Volatility

by Im Onyu

Published 19 Apr.2026 20:00(KST)

Updated 20 Apr.2026 07:09(KST)

Bilateral Meeting Between Deputy Prime Minister Koo Yoon-chul and Secretary Bessent in Washington on the 17th

U.S. Secretary of the Treasury Scott Bessent recently expressed his support for the "Special Act on Investment in the United States," which was enacted through bipartisan agreement. He also stated that the United States would continue consultations with Korea to reduce the excessive volatility of the won-dollar exchange rate.

Deputy Prime Minister and Minister of Economy and Finance Koo Yoon-chul, who is visiting Washington D.C., USA, to attend the Group of Twenty (G20) Finance Ministers and Central Bank Governors Meeting, shakes hands and takes a commemorative photo with U.S. Secretary of the Treasury Scott Bessent on the 17th (local time) at the U.S. Department of the Treasury. Ministry of Economy and Finance

Koo Yoon-chul, Deputy Prime Minister and Minister of Economy and Finance, who visited the United States to attend the Group of Twenty (G20) Finance Ministers and Central Bank Governors Meeting, met with Secretary Bessent at the U.S. Department of the Treasury in Washington, D.C. on the 17th. The two discussed a range of issues, including investment in the United States, the foreign exchange market, and core minerals.

Deputy Prime Minister Koo explained the Korean government's efforts to implement the "Memorandum of Understanding on Korea-U.S. Strategic Investment," which was agreed upon by both countries, such as the recent enactment of the Special Act on Investment in the United States through bipartisan agreement. Secretary Bessent welcomed the government's efforts, including the enactment of the special legislation.

The finance ministers of both countries shared the view that excessive volatility of the Korean won is undesirable. They agreed to continue consultations on trends in the foreign exchange market going forward.

In addition, the finance ministers of both countries exchanged views on the impact of the recent war in the Middle East on the Korean economy and measures to stabilize supply chains for key minerals. In particular, Deputy Prime Minister Koo introduced that the Korean government has been actively responding by preparing a supplementary budget of 2.62 trillion won based on excess tax revenue to ensure stability in people's livelihoods and the economy.

Deputy Prime Minister Koo also expressed support for the United States' major G20 agenda items this year, including global growth and addressing imbalances, and emphasized the importance of investing in human resources through artificial intelligence (AI) education to achieve these goals.