>President Yoon and President Biden agree that the Korea-U.S. Free Trade Agreement (KORUS), which celebrated its 10th anniversary this year, remains the foundation of our economic relationship. To promote sustainable growth and financial stability, including orderly and well-functioning foreign exchange markets, the two Presidents recognize the need to consult closely on foreign exchange market developments. The two Presidents share common values and an essential interest in fair, market-based competition and commit to work together to address market distorting practices.
