South Korea’s Lee Says FX Swap Needed for US Investment: Reuters

South Korean President Lee Jae Myung has stated that a currency swap agreement is necessary to avoid an economic crisis that could arise from the country's pledge to invest $350 billion in the United States. The president's comments were reported by Reuters. The proposed investment is a significant commitment, and the president believes that a currency swap agreement would help mitigate the potential economic risks associated with it. Currency swap agreements are financial instruments that allow two parties to exchange currencies at a pre-determined rate, which can help manage exchange rate fluctuations and facilitate international trade and investment. President Lee's remarks suggest that the South Korean government is actively considering measures to ensure the success and sustainability of the planned investment in the US market. The currency swap agreement is seen as a crucial tool to manage the potential economic challenges that may arise from this large-scale investment.