South Korea agrees currency deal with Japan, China

South Korea agreed a currency swaps deal with China and Japan on Friday as part of a joint effort to avoid financial turbulence in the region.

The Bank of Korea signed a bilateral won-yen swap deal worth $3 billion with the Bank of Japan, and extended a won-yuan agreement with the People's Bank of China by doubling its value to $4 billion.

The BOK said the deals were part of efforts to pursue stabilization of regional financial markets through supplying short-term liquidity.

"I am confident that

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