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South Korea to boost communication with U.S., examine China measures: finance minister
March 24, 2017 / 1:15 AM / 6 months ago

South Korea to boost communication with U.S., examine China measures: finance minister

South Korean Finance Minister Yoo Il-ho speaks during an interview in Manhattan, New York, U.S., January 11, 2017. REUTERS/Shannon Stapleton

SEOUL (Reuters) - South Korea plans to actively explain Seoul’s policies regarding trade and foreign exchange rates to the U.S. Donald Trump administration, the country’s finance minister said on Friday.

“The new U.S. government is continuously pointing out issues like trade deficits with key trade countries,” said Finance Minister Yoo Il-ho in opening remarks at a meeting with other government officials in Seoul.

“Our government will not only continue to explain our foreign exchange rate policy but also actively relay our efforts to effectively carry out the bilateral free trade agreement and form a balanced trade structure.”

Yoo added the government is also examining whether China’s recent actions in retaliation of the deployment of a U.S. anti-missile radar system is in violation of international trade standards.

Beijing has vehemently criticized the deployment of the Terminal High Altitude Area Defense (THAAD) system, saying the radar can penetrate its territory, but has not said its actions to curb South Korean businesses in China are linked to the diplomatic spat with South Korea.

Reporting by Christine Kim; Editing by Sam Holmes

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