Korea, U.S. hold first meeting of finance, monetary senior officials
During the meeting, which took place on the sidelines of a Group of 20 ministerial gathering, the two countries' policymakers exchanged views on recent economic developments and ways to enhance bilateral economic and financial cooperation.
Korean Finance Minister Lee Hyoung-il, right, and Bank of Korea Gov. Shin Hyun-song, center, speak with U.S. Federal Reserve Chair Kevin Warsh on the sidelines of a Group of 20 ministerial gathering in Bangkok on Oct. 16.
MINISTRY OF FINANCE AND ECONOMY
Korea and the United States held their first “two-plus-two” meeting of finance and monetary policymakers on the sidelines of a Group of 20 (G20) ministerial gathering to strengthen coordination in responding to external uncertainties, the Ministry of Finance and Economy said.
Finance Minister Lee Hyoung-il and Bank of Korea (BOK) Gov. Shin Hyun-song met with U.S. Federal Reserve Chair Kevin Warsh and U.S. Deputy Treasury Secretary Francis Brooke in Bangkok on Friday, where the G20 finance ministers’ meeting took place, according to the Finance Ministry.
The participants exchanged views on recent economic developments and ways to enhance bilateral economic and financial cooperation.
Lee described the meeting as meaningful because it marked the first time that the two countries brought together senior officials from their respective finance and monetary authorities.
U.S. Treasury Secretary Scott Bessent did not attend the event.
An official from the Finance Ministry said that the meeting was to enhance coordination between the countries’ finance and monetary authorities.
“The meeting was aimed at enhancing the policy mix of the two countries’ financial and monetary policies,” the official said.
“It is significant that the two have established a framework for cooperation to promptly and effectively address external financial uncertainties through close coordination between their finance and monetary authorities,” the official added.
Lee was visiting Bangkok to attend the G20 finance ministers’ meeting and the 2026 Annual Meetings of the International Monetary Fund and the World Bank Group. It was his first overseas trip as finance minister since taking office last month.
Separately, Erin Browne, the U.S. Treasury’s under secretary for international affairs who also attended the Bangkok meeting, said that the parties discussed ways to strengthen bilateral cooperation.
“Our four institutions exchanged views on economic and financial conditions in both countries and discussed opportunities to […] strengthen U.S.-Korea economic and financial cooperation,” Browne wrote on social media X.
Yonhap
