Newly-appointed Finance Minister Yoo Il-ho says there are no immediate plans to resume a currency swap deal with Japan.
 
In his first news conference at the Sejong Government Complex on Thursday, the minister said there are no situational factors that necessitate a currency swap with Japan in the immediate future.
 
However, he added that theoretically speaking there was no reason to object should Japan request a swap.
 
When questioned about his intentions to initiate a proposal for a swap deal with Japan, Yoo said it depends on the situation. He added that it's not the time to make the proposal as risks related to the world's two largest economies, the U.S. and China, remain.
 
Yoo said earlier in his confirmation hearing that he could consider expanding currency swaps including with Japan.
 
Japan's Sankei Shimbun newspaper reported that if South Korea formally makes a request, the Japanese government would resume the swap arrangement.
 
Yoo's remarks Thursday are viewed as a response to the Sankei report.