South Korea’s top foreign‑exchange chief, Deputy Finance Minister Moon Jisung, flew solo to Washington this weekend to hash out the won’s recent slide. In a stand‑alone meeting, he told Bloomberg that Seoul and Washington agreed to keep channels open on currency moves. The talk followed the won’s fall to a 2009 low on June 5 before a sharp rebound.

Moon said the depreciation looks excessive against South Korea’s solid fundamentals. He highlighted that the currency’s dip has prompted a ripple of policy actions, including the first FX‑bank inspection in 14 years and emergency appeals for exporters to bring earnings home. The move signals Seoul’s urgency to shield its export‑heavy economy.

The won’s slide also rattled markets, pushing it to a two‑week low before a rebound helped by risk‑sentiment lift after a US‑Iran interim deal. Investors watched the meeting closely, as any shift in US‑Korean coordination could shift capital flows and reshape South Korea’s FX risk profile.

With the dollar strengthening and global risk appetite tightening, Seoul’s partnership with Washington aims to curb volatility that could hurt a trade‑driven economy. The agreement underscores the need for coordinated policy responses to currency swings that threaten export earnings and inflation expectations and preserve investor confidence.