The U.S. Treasury Department keeps South Korea on a semiannual “monitoring list” of countries whose foreign exchange policies it watches, according to its latest Report to Congress on Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States. The updated list includes South Korea, China, Japan, Taiwan, Thailand, Singapore, Vietnam, Germany, Ireland and Switzerland, and all 10 were also on the list in the previous edition released in January. The report notes that South Korea was removed from the monitoring list in November 2023 for the first time since April 2016, but it was added back in November 2024 and remains on the list. In the latest findings, the report says South Korea’s current account surplus rises “considerably” to 6.6% of gross domestic product last year, up from 5.3% in 2024, attributing much of the increase to goods trade, particularly semiconductors and other technology-related products. The report also highlights that the Korean won faces “sustained” depreciation. Countries generally qualify for monitoring when they meet two of three criteria set under the U.S. Trade Facilitation and Trade Enforcement Act of 2015, including thresholds for trade and current account balances and one-sided currency market intervention for a prolonged period.
US keeps South Korea and 9 others on FX policy monitoring list
The U.S. Treasury Department keeps South Korea on a semiannual “monitoring list” of countries whose foreign exchange policies it watches, according to its latest Report to Congress on Macroeconomic an...
- The U.S. Treasury Department’s semiannual report keeps South Korea on the FX policy “monitoring list.”
- The monitoring list includes 10 economies: South Korea, China, Japan, Taiwan, Thailand, Singapore, Vietnam, Germany, Ireland and Switzerland.
- All 10 countries were also on the monitoring list in the previous January report.
- South Korea was excluded in November 2023 for the first time since April 2016, then re-added in November 2024 and remains listed.
- The report says South Korea’s current account surplus increases to 6.6% of GDP from 5.3%, driven largely by goods trade, especially semiconductors and related technology products.
WASHINGTON — The United States has kept South Korea and nine other economies on its watch list of countries to monitor for their foreign exchange policies, a Treasury Department report showed Thursday. The department's semiannual "Report to Congress on Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States" showed the latest monitoring list comprising South Korea, China, Japan, Taiwan, Thailand, Singapore, Vietnam, Germany, Ireland and Switzerland. All 10 countries were on the list in the previous report released in January. South Korea was excluded from the list in November 2023 for the first time since April 2016 but was placed back on it in November 2024. It has since remained on the list. The report pointed out that the size of Korea's current account surplus grew "considerably" to 6.6 percent of the gross domestic product (GDP) last year, up from 5.3 percent in 2024, attributing the rise largely to the goods trade, primarily semiconductors and other technology-related products. It also underscored the Korean won has come under "sustained" depreci
1 hour agoWASHINGTON — The United States has kept South Korea and nine other economies on its watch list of countries to monitor for their foreign exchange policies, a Treasury Department report showed Thursday. The department's semiannual "Report to Congress on Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States" showed the latest monitoring list comprising South Korea, China, Japan, Taiwan, Thailand, Singapore, Vietnam, Germany, Ireland and Switzerland. All 10 countries were on the list in the previous report released in January. South Korea was excluded from the list in November 2023 for the first time since April 2016 but was placed back on it in November 2024. It has since remained on the list. The report pointed out that the size of Korea's current account surplus grew "considerably" to 6.6 percent of the gross domestic product (GDP) last year, up from 5.3 percent in 2024, attributing the rise largely to the goods trade, primarily semiconductors and other technology-related products. It also underscored the Korean won has come under "sustained" depreci
2 hours agoWASHINGTON — The United States has kept Korea on its list of countries to monitor for their foreign exchange policies, a Treasury Department report showed Thursday. The department released the updated list in the semiannual "Report to Congress on Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States." The latest monitoring list comprises Korea, China, Japan, Taiwan, Thailand, Singapore, Vietnam, Germany, Ireland and Switzerland. All were on the list in the previous report released in January. Korea was excluded from the list in November 2023 for the first time since April 2016 but was placed back on it in November 2024. It has since remained on the list. U.S. trading partners are put on the list when they meet two of the three criteria set by the U.S. Trade Facilitation and Trade Enforcement Act of 2015. The criteria are a bilateral trade surplus with the U.S. of at least $15 billion, a material current account surplus of at least 3 percent of GDP and persistent, one-sided intervention in the foreign currency market for at least eight months during a
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