April 5, 2018 / 3:31 AM / 3 months ago

South Korea watching U.S.-China trade issue closely, measures prepared

SEOUL (Reuters) - South Korea’s finance minister said on Thursday the trade tussle between the United States and China was being closely watched and that the country had prepared measures for various scenarios.

South Korean Finance Minister Kim Dong-yeon speaks during his inaugural ceremony in Sejong government complex in Sejong, South Korea, June 15, 2017. REUTERS/Kim Hong-Ji

“There are unofficial talks going on between the two countries (the United States and China) regarding the trade issue and (South Korea) is closely watching how the situation is going to unfold,” Kim Dong-yeon told reporters on Thursday.

Kim also said there was no change to the ministry’s stance that it would take smoothing measures to stabilize foreign exchange markets in cases of sharp volatility.

South Korea, along with China, avoided the currency-manipulator label in twice-yearly U.S. Treasury report, but was kept on a currency “monitoring list”.

Reporting by Shinhyung Lee, Dahee Kim; Editing by Michael Perry

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