On Sunday, the United States Treasury declared that South Korea is not manipulating its currency, officially taking Seoul off a watchlist. The ruling comes after months of deliberation as Washington questioned the foreign exchange practices. The move was welcomed by the finance ministry of South Korea as it is an indication that the country is serious about transparent and fair market policies. Analysts indicate that the decision boosts economic relations and diminishes tension between countries in the context of wider trade-related tensions in the world.
The result also helps to reassure investors concerning the financial soundness of South Korea, especially after the won has suffered instability against the U.S. dollar. Seoul officials emphasized that further collaboration with the US will be central to protecting regional economic confidence.
