As all of you are aware, last weekend, we were able to come up with an agreement on currency issues as well as other critical global issues at the G20 Finance Ministers and Central Bank Governors Meeting at Gyeongju. I find it a win-win result for all parties concerned.
In particular, I’d like to remind you that the communique includes the following statement, “these actions will help mitigate the risk of excessive volatility in capital flows facing some emerging countries”. Such a statement has a significant policy implication for a country like Korea, whose day-to-day currency fluctuations are much higher than those of other G20 member economies.