Deputy Prime Minister Koo Yoon-cheol is traveling to Europe to showcase South Korea's economic resilience and advancements in capital markets.
According to the Ministry of Economy and Finance, Koo departed for the United Kingdom on the morning of May 17 for an investment briefing. During his trip, he will conduct investment briefings for global investment institutions, meet with major financial companies, and participate in the G7 finance ministers and central bank governors meeting.
This year's G7 presidency is held by France, and the meeting will take place in Paris on May 19. The agenda includes sessions on global imbalances and building mutually beneficial international partnerships, along with a working lunch for finance ministers and central bank governors from major economies.
Discussions are expected to focus on the need to address current account imbalances between countries and ways to enhance the effectiveness of international development cooperation.
Koo plans to emphasize that addressing complex crises, such as those stemming from conflicts in the Middle East, requires collective efforts rather than actions from a single nation. He intends to share South Korea's emergency economic response measures and strategies for boosting domestic demand and investment. Additionally, he will express his views on global economic issues from the perspective of bridging the G7 and emerging economies.
Moreover, Koo will strengthen exchanges with G7 member countries through meetings with UK Chancellor of the Exchequer Rachel Reeves, Canadian Finance Minister François-Philippe Champagne, and German Vice Chancellor and Finance Minister Lars Klingbeil.
Before the meeting, Koo will hold an investment briefing for major global investment institutions in London on May 18. He previously responded to suggestions at a regular meeting of the government bond market advisory committee, stating that he would implement timely market stabilization measures to enhance investment outreach to Asian and other regional investors.
Koo aims to attract investment by highlighting South Korea's strong global competitiveness, along with key policy directions such as capital market advancement and the realization of a hyper-innovative economy.
Additionally, he will meet with top executives from major global financial firms, including HSBC and Schroders, to discuss the state of the global economy and international financial markets.
Koo is also scheduled to meet with Odile Renaud-Basso, President of the European Bank for Reconstruction and Development, to explore how to support developing countries through development cooperation projects that incorporate artificial intelligence (AI).
* This article has been translated by AI.
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