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Kang Yu-jung, spokesperson for the presidential office, briefs reporters in Yongsan, Seoul, on September 15 about the day’s strategy meeting on regulatory reform. / Source: Yonhap News

The presidential office on September 15 dismissed reports that the United States had taken a negative stance toward South Korea’s proposal for an “unlimited Korea-U.S. currency swap,” calling such claims premature.

The issue arose during ongoing trade negotiations, where Washington agreed to reduce planned reciprocal tariffs on Korean goods from 25% to 15%, while Seoul pledged $350 billion in U.S. investments. As talks turned to the composition of those investments, with the U.S. urging a larger share in direct cash, Seoul floated the swap arrangement as a safeguard.

In a briefing, presidential spokesperson Kang Yu-jung said, “Given the potential impact on foreign exchange markets, the matter of an unlimited swap is naturally under consideration as part of the negotiations.”

Kang stressed that the tariff discussions remain in progress. “The Republic of Korea is engaging with every option open, with the guiding principle that the national interest of the Korean people comes first,” she said.

Quoting President Lee Jae-myung’s remarks from his 100-day press conference, Kang added: “Our priority is to ensure that there is no damage to our national interest. If excessive demands arise, we will negotiate with the aim of protecting and preserving our interests. This principle has not changed.”