South Korea will discuss with Japan re-establishment of their bilateral foreign exchange swap line that expired in 2015, its finance minister said on Thursday.
"Current economic issues, including bilateral and regional financial cooperation, will be discussed at the bilateral finance minister meeting on June 29," Minister Choo Kyung-ho said, adding that currency swap arrangement was also on the agenda.
On the domestic economy, Choo said this year's economic growth would likely be "slightly lower" than the government's previous projection of 1.6%. He said the revision would be contained in the government's economic forecast due in late June or early July, when it releases its biannual policy plans. Meanwhile, the government is not considering a supplementary budget for this year and does not plan to do so for a while, he said.in May, is likely to fall to the upper 2% level this month, but is still high and controlling it will remain as the top priority for a while, Choo said.
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