Deputy Prime Minister and Minister of Economy and Finance Lee Hyung-il is set to attend the G20 and G7 finance ministers' meetings, as well as the annual meetings of the International Monetary Fund (IMF) and the World Bank (WB). This marks his participation in major multilateral international meetings just over a month after taking office, where he aims to discuss global economic issues and strengthen policy coordination with key countries and international financial organizations.
According to the Ministry of Economy and Finance, Lee departed on October 14 and will attend the G20 finance ministers and central bank governors' meeting in Bangkok, Thailand, on the morning of October 15. This will be the last in-person finance ministers' meeting hosted by the United States ahead of the G20 summit in December. Participants are expected to share insights on global economic issues and discuss the direction of activities for the next chair, the United Kingdom.
On the same evening, he will participate in the G7 finance ministers and central bank governors' meeting as an invited country. South Korea has been invited to two G7 finance ministers' meetings this year, following an invitation in May. Lee plans to discuss global economic issues with finance authorities from G7 member countries and seek to expand cooperation.
On the morning of October 17, he will attend the IMF's International Monetary and Financial Committee (IMFC) meeting to discuss the global economic outlook and the policy responses of the IMF and member countries to key economic issues.
During his trip, Lee will also hold meetings with finance ministers from major countries and officials from international financial organizations and credit rating agencies. He is scheduled to meet with the presidents of the IMF, Asian Development Bank (ADB), European Bank for Reconstruction and Development (EBRD), and Central American Bank for Economic Integration (CABEI), as well as representatives from the three major global credit rating agencies: Moody's, Fitch, and Standard & Poor's (S&P).
Meetings with finance ministers from Japan, the United Kingdom, Germany, Australia, Saudi Arabia, Singapore, and Poland, as well as the CEO of Euroclear Group, are also planned. Through these discussions, Lee aims to explain the fundamentals and policy direction of the South Korean economy and enhance cooperation on international financial and economic issues.
* This article has been translated by AI.
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