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South Korea regrets FX swap talks with Japan suspended over monument row
January 6, 2017 / 4:23 AM / a year ago

South Korea regrets FX swap talks with Japan suspended over monument row

SEOUL (Reuters) - South Korea’s finance ministry on Friday expressed regrets that talks on a new currency swap agreement with Japan had been suspended by Tokyo due to political reasons.

A flower is laid on a statue of a girl that represents the sexual victims by the Japanese military during a rally in front of Japanese Consulate in Busan, South Korea, December 30, 2016. Yeo Joo-yeon/News1 via REUTERS

Japan’s chief government spokesman earlier said that it has suspended the talks due to South Korea’s decision to keep a monument to victims of Japan’s wartime sexual slavery near the Japanese consulate in Busan.

In a statement stating the South Korean government’s stance, the finance ministry said economic and financial cooperation between the two nations should continue to take place regardless of political and diplomatic relations. The two nations had agreed last August to start talks on a new currency swap to bolster defenses against global uncertainties.

Reporting by Cynthia Kim and Jack Kim

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