The U.S. and South Korea are concentrating on the structure of a $350 billion investment commitment by Seoul rather than pursuing a currency swap, South Korea’s Finance Minister Koo Yun Cheol said.

Speaking to Bloomberg TV on Wednesday, Koo noted that U.S. officials, including Treasury Secretary Scott Bessent, are concerned that an “upfront” deployment of funds could shock South Korea’s foreign-exchange market. The interview also highlighted weakness in the Korean won, linked to the unfinished deal, ongoing car tariffs, and developments in AI technology.