Bank of Korea Governor Lee Ju-yeol said Monday that currency swap deals with the U.S. and Japan will be significantly helpful to South Korea’s financial market.
 
Lee made the remark during the National Assembly’s inspection of the central bank after Liberty Korea Party(LKP) lawmaker Park Myung-jae cited growing calls for a swift adoption of currency swap agreements with the two countries.
 
To a similar question from LKP lawmaker Kim Gwang-lim, the bank governor reiterated that adopting the deals with the two countries would be very meaningful because they would greatly contribute to stabilizing the foreign exchange market.
 
South Korea’s currency swap agreement with the U.S. expired back in February 2010. South Korea’s negotiations on adopting the agreement with Japan came to a halt in February 2015 due to diplomatic conflicts, including territorial claims over the Dokdo islets.
 
Lee expressed caution about projecting when the deals with the two countries could come, saying that he is watchful at the present stage.