Скачать или смотреть S.Korea, Japan to end bilateral currency swap agreement / YTN

South Korea and Japan have agreed to close a bilateral currency swap deal amid frayed diplomatic relations between the two countries.

The Ministry of Strategy and Finance announced on Monday that the 10 billion-dollar swap arrangement between South Korea's central Bank of Korea and the Bank of Japan will expire on Feb. 23 as scheduled.

The ministry said the cessation of the currency swap deal with Japan will not have any negative effect as South Korea maintains enough foreign exchange reserves in its coffer.

The two countries launched the swap deal at 2 billion dollars in July 2001, before raising it to 70 billion dollars in October 2012. However, the volume continued to decline after former South Korean President Lee Myung-Bak visited the Dokdo islets that year, which are claimed by both of the neighboring states.

Incumbent President Park Geun-Hye has yet to hold a summit with Japanese Prime Minister Shinzo Abe.

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[ 한국 뉴스 채널 와이티엔 / Korea News Channel YTN ]