US Treasury Secretary Visits South Korea for the First Time in 6 Years
Likely to Discuss Global Inflation and Russia Sanctions
[Asia Economy Sejong=Reporter Kwon Haeyoung] Janet Yellen, the U.S. Secretary of the Treasury, will visit South Korea on July 19-20. This marks the first visit by a U.S. Treasury Secretary to South Korea in six years since 2016.
According to the Ministry of Economy and Finance on the 28th, Secretary Yellen will visit South Korea after attending the G20 Finance Ministers and Central Bank Governors Meeting held in Bali, Indonesia on July 15-16.
Secretary Yellen will visit Japan on July 12-13, then attend the G20 meeting in Indonesia on July 15-16. She will arrive in South Korea on the 19th and carry out a two-day schedule. This visit is her first to South Korea since assuming office as U.S. Treasury Secretary in January 2021.
During her visit, Secretary Yellen is scheduled to hold the Korea-U.S. Treasury Secretary Meeting with Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho. This will be their first official meeting since Deputy Prime Minister Choo took office. The two ministers plan to discuss economic and financial cooperation between Korea and the U.S., as well as ways to strengthen policy coordination through multilateral forums such as the G20.
Key issues expected to be discussed include responses to global inflation caused by the Russia-Ukraine war, sanctions on Russia, and cooperation on sanctions against North Korea. There is also a possibility of discussions regarding the Korea-U.S. currency swap agreement, which ended late last year.
An official from the Ministry of Economy and Finance stated, "This meeting is expected to serve as an opportunity to deepen and expand economic ties between Korea and the U.S., following the meeting between the two countries' leaders in May."
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