The finance ministers of the United States and South Korea discussed issues related to the foreign exchange market and the economy on Monday.

The U.S. Department of the Treasury stated in a declaration that U.S. Treasury Secretary Yellen held talks with South Korean Deputy Prime Minister and Minister of Strategy and Finance, Hong Nam-ki, on Monday to discuss critical minerals and ways to enhance economic ties between the U.S. and South Korea. According to a statement released on Tuesday, the two sides also discussed the recent depreciation of the South Korean won. The statement said, "Secretary Yellen emphasized that excessive fluctuations in the foreign exchange market are unwelcome and reaffirmed South Korea's strong economic performance, especially in key industries that support the U.S. economy, making it an important partner for the U.S. in Asia."