The South Korean government is going to get a lot more transparent in terms of its foreign exchange transactions.<br />Seoul hopes the move will lift concerns in some quarters that the country plays around with its currency to give its exporters an unfair advantage over the competition.<br />Kim Hyesung reports.<br /><br /><br /> <br /> South Korea will start disclosing its currency market intervention records on a regular basis.<br />At an economic ministers meeting on Thursday, the Bank of Korea and the Finance Ministry said they will disclose the country's net buying and selling of U.S. dollars.<br />The government will reveal details every six months for one year starting from the second half of 2018. <br />From then on, the government will disclose the details on a quarterly basis.<br />The announcement comes after the U.S. government and the IMF repeatedly called on South Korea to release its FX intervention records and enhance transparency.<br /> South Korea, along with China, avoided being labeled a currency manipulator in the U.S. Treasury Department's semiannual report in April, but was kept on its currency "monitoring list." <br /> Finance Minister Kim Dong-yeon said the measure will help remove unnecessary misunderstandings about the country's currency market operations and help build trust about its policies in the long run. <br /> Another focus during the meeting was on the use of Liquefied Natural Gas or LNG-powered vessels.<br />The government plans to gradually replace its towing vessels that use Bunker C or diesel, which emit fine dust particles, with LNG-powered vessels that are more eco-friendly. <br />It will place its first order for two LNG-powered vessels in August that will sail between South Korea and Australia.<br /> The Ministry of Oceans and Fisheries says it will support the adoption of LNG-powered vessels through subsidies and technological development. <br />Kim Hyesung, Arirang News. <br />
