South Korea's Deputy Finance Minister stated that the country is closely communicating with Japan and allies on exchange rate issues

Odaily Planet Daily News South Korea's Deputy Finance Minister said on Thursday that the country is maintaining close communication with Japan and other major allies on foreign exchange issues, warning that the Korean won's exchange rate has seriously deviated from economic fundamentals.

"We have always maintained close cooperation and information exchange with Japan and other relevant countries," he said when asked whether South Korea would coordinate with Japan on exchange rate stabilization policies. "Currently, the Korean won exchange rate is out of sync with economic fundamentals." When asked about any potential intervention measures, he declined to elaborate further but stated that the government is ready to take stabilization measures in the event of excessive exchange rate volatility caused by insufficient market liquidity. (Jinshi Data)