SEOUL (Reuters) -South Korea will talk about with Japan re-establishment of their bilateral international change swap line that expired in 2015, its finance minister stated on Thursday.

“Present financial points, together with bilateral and regional monetary cooperation, will likely be mentioned on the bilateral finance minister assembly on June 29,” Minister Choo Kyung-ho stated, including that forex swap association was additionally on the agenda.

Choo was talking at a dialogue discussion board, in response to a reporter’s query in regards to the bilateral finance minister assembly between Japan and South Korea that’s scheduled to be held in Tokyo.

The assembly will mark the revival of standard dialogue between the 2 nations’ finance ministers, which they agreed to deliver again to life throughout their prior assembly in early Could and had been suspended since 2016.

On the home financial system, Choo stated this yr’s financial development would possible be “barely decrease” than the federal government’s earlier projection of 1.6%.

He stated the revision can be contained within the authorities’s financial forecast due in late June or early July, when it releases its biannual coverage plans.

In the meantime, the federal government just isn’t contemplating a supplementary price range for this yr and doesn’t plan to take action for some time, he stated.

The nation’s inflation, which cooled to a 19-month low in Could, is more likely to fall to the higher 2% stage this month, however continues to be excessive and controlling it should stay as the highest precedence for some time, Choo stated.