US Treasury keeps Korea on currency monitoring list

Treasury Secretary Scott Bessent listens during a cabinet meeting at the White House, Thursday, in Washington. AP-Yonhap

The U.S. Treasury on Thursday (local time) kept Korea on its currency monitoring list, citing the need for continued scrutiny of its foreign exchange practices despite finding no evidence of currency manipulation.

In its semiannual report to Congress, the Treasury said no major trading partner met the criteria for manipulation during the review period through June 2025. Korea remained on the monitoring list alongside economies including Japan and Taiwan.

Countries are placed on the list if they meet at least two of three criteria related to trade surpluses with the U.S., material current account surpluses or persistent one-sided intervention in foreign exchange markets.

Korea was removed from the monitoring list in November 2023 for the first time since April 2016 but was added back in November 2024, ahead of the inauguration of the Donald Trump administration.