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U.S. and South Korea Discuss $350B Investment Amid Won Recovery

1/14/2026

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Summary

Story summary

U.S. Treasury Secretary Scott Bessent said the won's depreciation does not reflect South Korea's strong economic fundamentals.
The won gained 1.15%, recovering from ten consecutive losses.
Bessent emphasized the need to reduce volatility in the foreign exchange market.
U.S. Treasury Secretary Scott Bessent and South Korea's Finance Minister Koo Yun-cheol discussed a $350 billion investment deal to strengthen ties, including capping Korean dollar outflows.

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Story summary

U.S. Treasury Secretary Scott Bessent said the won's depreciation does not reflect South Korea's strong economic fundamentals.
The won gained 1.15%, recovering from ten consecutive losses.
Bessent emphasized the need to reduce volatility in the foreign exchange market.
U.S. Treasury Secretary Scott Bessent and South Korea's Finance Minister Koo Yun-cheol discussed a $350 billion investment deal to strengthen ties, including capping Korean dollar outflows.