SEOUL, May 18 (AJP) - Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol departed on Sunday to attend the Group of Seven Finance Ministers and Central Bank Governors meeting and to host a South Korean economy investment relations session. Amid expanding volatility in international oil prices and exchange rates driven by the stalled dispute between the U.S. and Iran, the government plans to manage national creditworthiness through briefings for foreign investors and consultations with financial authorities of major nations.
According to the Ministry of Economy and Finance, Koo will attend the G7 Finance Ministers and Central Bank Governors meeting in Paris, France, on Tuesday.
The meeting will be attended by G7 member nations—including the United States, Japan, the United Kingdom, France, Germany, Italy, and Canada—alongside invited countries such as South Korea, India, Brazil, and Kenya, and leaders of major international organizations including the IMF, World Bank, OECD, and Financial Stability Board (FSB).
Koo is also scheduled to hold bilateral meetings with British Chancellor of the Exchequer Rachel Reeves, Canadian Minister of Innovation, Science and Industry François-Philippe Champagne, and German Vice Chancellor and Minister of Finance Lars Klingbeil to discuss economic and financial cooperation.
While South Korea is not a full member of the G7, it has been repeatedly invited to major multilateral economic meetings due to its supply chain stability and competitiveness in the semiconductor and AI industries. The government is also emphasizing that South Korea can serve as a "middle-power platform" bridging advanced and emerging economies.
The upcoming meeting will primarily focus on global imbalances and the establishment of international partnerships. Recently, "global imbalances"—such as excessive surpluses in China and oil-producing nations and foreign exchange instability in emerging markets caused by dollar dominance—have re-emerged as key global economic issues.
In his opening remarks, Koo plans to emphasize that the complex crises stemming from the prolonged Middle East conflict cannot be resolved by the efforts of a single country, while sharing South Korea’s emergency economic response plans and policies to boost domestic demand and investment.
He will also present perspectives on major global issues from a middle-ground position connecting G7 members and emerging countries.
Prior to the G7 schedule, Koo will host an investment presentation on the South Korean economy for major global investment institutions in London on Monday morning, local time.
The government plans to explain the global competitiveness of the Korean economy, alongside core policy directions such as capital market advancement and the implementation of a hyper-innovative economy, while calling for active investment expansion in South Korea.
The government has recently focused on improving accessibility for global investors through foreign exchange market structural reforms and capital market advancement policies.
Representative examples include the extension of foreign exchange market operating hours, the reorganization of the short-selling system, and efforts for inclusion in the World Government Bond Index (WGBI) since April, as well as ongoing bids to join the Morgan Stanley Capital International (MSCI) Developed Markets (DM) Index.
London is evaluated as one of Europe's largest financial hubs, where major global bond and foreign exchange investors are concentrated. Amid expanding volatility in global capital flows due to geopolitical risks in the Middle East and a strong dollar, the government appears focused on securing trust in the Korean market through direct contact with overseas investors.
On the same day, Koo will hold individual meetings with top executives from major global financial firms, including HSBC and Schroders. The meetings will cover the current state of the global economy and international financial markets, alongside explanations of the South Korean government’s foreign exchange and capital market reform efforts and improvements to the investment environment.
Koo will subsequently meet with European Bank for Reconstruction and Development (EBRD) President Odile Renaud-Basso to discuss development cooperation projects integrating artificial intelligence (AI) and support measures for developing nations.
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