SEOUL (Reuters) -South Korea and the United States have reached a foreign exchange agreement and plan to announce the deal soon, South Korean Finance Minister Koo Yun-cheol said.

Speaking to reporters at Incheon International Airport on Saturday night, Koo did not elaborate on the deal.

Yonhap news agency, citing an unnamed finance ministry official, said it is not related to talks on a currency swap as part of bilateral negotiations over President Donald Trump’s tariffs on South Korean goods.

South Korean President Lee Jae Myung told U.S. Treasury Secretary Scott Bessent on Wednesday in New York that the Asian country needs a foreign exchange swap in order to make the $350 billion investment it has pledged to its ally in the tariff talks, Koo said.

Koo quoted Bessent as saying he woul

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