Deputy Prime Minister and Minister of Finance and Economy Koo Yun-cheol will depart for Uzbekistan to attend a series of major international meetings, including a trilateral meeting of finance ministers from South Korea, China and Japan and the annual meeting of the Asian Development Bank (ADB).
The Ministry of Finance and Economy said Thursday that Koo will leave on May 2 for Samarkand, where he will chair the South Korea-China-Japan meeting of finance ministers and central bank governors and attend the ASEAN+3 meeting of finance ministers and central bank governors, as well as the 59th ADB annual meeting.
Koo is scheduled to chair the trilateral meeting on May 3. Participants will share their countries’ economic conditions and policy responses in light of developments in the Middle East war and exchange views on regional financial cooperation.
He will then attend the ASEAN+3 meeting, which brings together ASEAN members and South Korea, China and Japan. Officials from the International Monetary Fund, the ADB and the ASEAN+3 Macroeconomic Research Office are also expected to take part in discussions on global and regional economic trends and ways to strengthen the financial safety net.
Strengthening the Chiang Mai Initiative Multilateralization (CMIM) is expected to be a key agenda item. The CMIM is a multilateral currency-swap arrangement designed to provide liquidity support to ASEAN+3 members in times of crisis, with a total size of about $240 billion.
Koo will also attend the ADB annual meeting from May 4-5 and present South Korea’s views on sustainable and inclusive growth in the region and on cooperation among member countries.
On the sidelines, he plans bilateral talks with the ADB president, Uzbekistan’s deputy prime minister and Singapore’s finance minister to discuss ways to expand economic cooperation.
* This article has been translated by AI.
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