The finance ministry said Korea also agreed to confidentially share monthly data on its market stabilization measures with the U.S. The data will include foreign exchange reserves and forward position details, which Korea currently discloses publicly on a quarterly basis. The finance ministry said the enhanced data sharing is part of “sustained efforts to strengthen mutual communication” and promote transparency in exchange rate policies and their implementation. “The two sides plan to maintain close, ongoing communication regarding the domestic foreign exchange market and the operation of exchange rate policy,” it added. President Lee Jae Myung has strongly opposed the U.S. demand, noting that such a massive outflow of foreign reserves could trigger a crisis similar to the 1997–98 Asian financial meltdown.