“The club recognised my work and also I recognised the project,” he said.
“I am happy here, my family is happy here, I like the club, I like the staff, so it was not a tough decision.”
Asked about the possibility of transfer speculation Vipotnik added: “I am happy here but we will see in the summer what will happen. But I am happy here, my family is happy.”
Swansea, who are 14th, are on course for a fifth successive mid-table finish in the Championship as they prepare to host in-form Southampton on Saturday (15:00 BST).
With new rules meaning the play-offs will involve clubs finishing from third to eighth in the division next season, Vipotnik says they must be on Swansea’s agenda.
“Long-term we speak about the Premier League – I have been here two years,” he said.
“But we need to set good goals at the start of next season that we can achieve. We cannot put the standards too high. Play-offs next season is a fair goal.”