Korea, China and Japan agreed yesterday to consider exp(a)nding (bilateral) currency swap contracts. They hope to (jointly) cope with the ongoing global financial crisis. After (a) meeting on the sidelines (of the) group of 20 summit in Washington, Korea's finance ministry announced (theat) ministers at the 3 (east asian) countries reached a (consensus) to step up cooporation in the financial sector. Asia faces challengies including slower economic growth, had financial market (fluctuation). Finance ministers from 13 asian nations agreed in May, to create a pool of at least 80billian dollars in foreign exchange reserves to protect thier own currencies. It was a deal that allows countries to lend each other money at favorable terms (if) help (is) needed to stabilize exchange rate(s). 

 

* at favorable terms 유리한 조건으로 

foreign exchange reserve 외환 보유 

reach a consensus 합의를 이루다 

fluctuation 동요, 변동, 오르내림

bilateral 쌍방의