Bessent discussed foreign exchange market, economic issues with South Korean official, U.S. Treasury says

WASHINGTON, Jan 14 (Reuters) - U.S. Treasury Secretary Scott Bessent discussed critical minerals and ways to strengthen economic ties with South Korean economy minister Koo Yun Cheol in a meeting on Monday, the Treasury Department said in a statement.

The two discussed the recent depreciation of the Korean won, according to Tuesday's statement. "Secretary Bessent emphasized that excess volatility in the foreign exchange market is undesirable, and reaffirmed that Korea’s strong economic performance, especially in key industries that support America’s economy, make it a critical partner for the United States in Asia," it said.