https://japanese.joins.com/article/930/219930.html
August 29 , 2016 / Chuo Daily Japanese Edition
KoreaJapanCurrencySwapstoryJapanAcceptedSoon1
KoreaJapanCurrencySwapstoryJapanAcceptedSoon2
"Promoting a new currency swap agreement
from the perspective of further strengthening economic cooperation"
(Deputy Prime Minister and Minister of Planning and Finance, Kazuhiro Yanagi)
"I fully understand the need. Let's discuss each other"
(Japanese Finance Minister Taro Aso)
In the Korea-Japan financial dialogue held on the 27th,
there was no long dialogue in
which both sides agreed to conclude a currency swap agreement.
As Deputy Prime Minister Yui Il-ho cuts out,
Finance Minister Aso has accepted it as if he was waiting.
Currency swaps were not initially included in the official agenda.
But empathy was well formed.
Although Korea took the form of making a proposal,
Japan also made an "interest statement" in advance.
Aso Finance Minister said through the interview before Korea
"It would like to consider that Korea needs (currency swap)"
As the mood raised.
In this way,
Korea and Japan have officially launched "restoration" one year
and six months after the existing currency swap agreement was abolished.
Person in charge of plan finance department
"If the agreement is concluded successfully,
it will send a signal to the international community that economic cooperation
between the two countries will be in full swing," he said.
Currency swaps should be prepared for immediate use rather than tied up
The character of the "Monetary Defense Alliance" is deep.
It is also because of this symbolism that the Korea-Japan currency swap
has undergone a twist.
The size of the currency swap agreement, which began at $ 2 billion in 2001,
temporarily increased to $ 70 billion in 2011.
However, since 2012,
it has not renewed the contract that is approaching maturity.
It was because the relationship between the two countries became cold,
as President Lee Myung -bak visited Dokdo (Takeshima)
before the light restoration of the same year.
The last $ 10 billion currency swap agreement ended last February.
The annual financial meetings of both countries have not been held since 2012,
but resumed for the first time in three years.
The resumption of the currency swap debate is of particular interest for timing.
The North Korean nuclear issue and the decision
to deploy high altitude defense missiles (THAAD)
have also caused subtle ripples in economic relations between South Korea,
China and Japan.
In this process,
in particular, China's “overweight” emerged as a new risk.
South Korea's dependence on exports to China expanded
from 10.7% in 2001 to 26% last year.
Currency swaps are also similar.
Japan's hand in hand has greatly increased China's dependence.
Currently, Korea has signed a total of $ 119 billion in currency swaps
with countries, but about half of this, $ 56 billion, is with China.
Person in charge of plan finance department
He said, "The largest Chinese currency swap agreement is after Hong Kong."
It is a form of China that gives Korea an exceptional consideration.
The problem is that the uncertainty of Korea-China relations has increased
since the decision to deploy THAAD.
Professor On Ki-eung (Economics) at Sunshil University
"Given the fact that financial markets are not immediately insecure
and foreign exchange reserves are not in a situation where it seems,
the resumption of currency swaps with Japan seems to have a large meaning
of trying to diversify from China's overweight .
Japan, too, will need to strengthen its cooperation with Korea in order
to restrain China's influence from becoming excessively strong in the region. "
Professor Bae Unge (Economics) at Sang Myung University
"If the won is stable, it will help the financial markets in East Asia and China.
We must persuade the other party and strengthen cooperation among
the three countries, in view of the expansion of the currency swap,
which will lead to Korea-China-Japan joint interests. "
Currency swap: The two sides decide beforehand conditions such
as exchange rate and scale through an agreement,
and exchange currencies with each other as needed.
It prepares for the foreign currency shortage situation etc.
caused by the instability of the international financial market.
A currency swap is a sort of currency swap,
if it is considered as a "funded reserve" to be prepared in case
of a foreign exchange reserve.
It is a "minus lending" agreement.
It will be concluded in the form of multilateral agreements
like the Chiang Mai Initiative (CMI), in which Korea, China, Japan
and Southeast Asian Nations (ASEAN) countries participate.
Korean national traits taught by the resumption
of the "currency agreement"
different perceptions in the Japanese-Korean media
https://www.sankeibiz.jp/macro/news/160905/mcb 1609050500019-n1.htm
between Japan and Korea is expected to be re-entered after a year and a half.
It is a mechanism that exchanges (exchanges) currencies
but was closed in February last year due to the rapid cooling
there has been an active movement towards improving relations
but looking back on the circumstances, we can not simply simply be delighted.
The complexity and complexity of the two countries' relationship
Finance Minister Aso at a post- Cabinet meeting on the 24th just
before visiting Korea,
It indicated that it would consider if there was a talk from the other side
( Korean side )
(Tokyo Reuters Electric).
According to the Asahi Shimbun, currency agreements
"The mechanism to support the dollar and so on when the currency
with little international circulation slumps,"
the Korean side has much greater merit than Japan.
The agreement between Japan and Korea started in 2001,
triggered by the 1997 Asian currency crisis .
At the maximum, Japan was to transfer $ 70 billion to Korea.
The Yomiuri editorial dated August 28
" Mainly played a role in suppressing the currency instability in Korea "
And while touching Japan's "one- sidedness " implicitly
It emphasizes the significance that "the re-contract can be evaluated
to be useful not only for the two countries,
but also for the stability of financial markets throughout
the Asian region ".
However, another view comes from the Korean side.
Korea's leading paper "Korean Daily" is an editorial
In (Japanese electronic version published on August 29)
"Currency swaps have been resumed
as necessary for Korea and Japan "
Japan, too
It emphasizes that it was necessary
to " suppress the sharp appreciation of the yen ."
In addition, after pointing out
that "the voice of Korea's abandoning pride and gaining practical
interests in Japan,"
It accuses " undesired ".
"Chuo Nippo" is also an electronic version of the Japanese edition, titled "
Japan that has started talking and accepting it immediately ",
and communicates the design of the dialogue as follows.
"There was no long dialogue to reach an agreement.
When Deputy Prime Minister Yanagi cut out,
Finance Minister Aso accepted it as if it was immediately waiting. "
None of the articles have been identified, so no verification is possible,
but readers of the Korean newspaper must strongly feel
that the Japanese side has been more active in the agreement .
Aside from how much the agreement helps to prevent the appreciation
of the yen in Japan, at least on the Korean side,
reopening of the agreement is important and significant in two ways.
One is that exchange rates may continue to fluctuate rapidly
in the face of growing uncertainty about the global economy,
such as the decision to leave the European Union (EU)
in the UK and the interest rate hike in the United States.
For the Korean economy,
which is highly dependent on external demand,
the existence of a currency swap agreement can be said
to be a resilient security device in times of emergency.
BTS members famous for atomic bomb T-shirts are crazy inside the bus Videos leaked! https://twitter.com/i/status/1062852872176451584
Overseas fans seem to be exactly the same
Suddenly overflowing with compliments of English praise. Creepy…
http://www.ekn.kr/news/article.html?no=398456
https://news.v.daum.net/v/20181106030037589
http://www.koreaherald.com/view.php?ud=20181114000854
Dokdo is also doing anti-Japanese act of singing our territory.
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Do not move, government intervention,
Trading suspension, circuit breaker activation,
power off of server,
Koria have a proven track record.
Yuzuru Sato
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the activities of Japanese companies around the world
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DiffusionHopeGermanNGOSupportLaosAdoptVillage
DiffusionHopehttps://laos.oxfam.org/
Englisharticles futukiitihoyoujiyo
