South Korean Finance Minister Hong Nam-ki will leave for the US this week to attend a G20 meeting of finance chiefs and central bankers to discuss global economic and financial issues, it was announced on Monday.
Hong will head to Washington on Tuesday to attend the G20 Finance Ministers and Central Bank Governors’ meeting set for Wednesday, according to the Ministry of Economy and Finance.
The gathering is meant to lay the groundwork for the G20 summit scheduled for October 30-31 in Rome, reports Yonhap News Agency.
Hong plans to stress the need for policy coordination and the importance of promoting free trade in response to global economic risks, the Ministry said.
He will also explain Seoul’s stance on climate change response and the overhaul of a global corporate tax scheme.
Hong will take part in a meeting of the International Monetary and Financial Committee, an advisory body of the International Monetary Fund’s (IMF) board of governors, on Thursday, to discuss the IMF’s role amid the pandemic.
On the sidelines of the meetings, Hong will hold separate talks with .S Treasury Secretary Janet Yellen and his counterpart from Argentina.
He is expected to discuss with Yellen bilateral and multilateral economic issues as well as the matter of Iran’s funds frozen in Seoul.
Hong will also meet with the chiefs of the IMF, the World Bank and the Inter-American Development Bank, according to the Ministry.