Finance minister calls for global efforts on supply chain stability at G20 meeting
Published: 19 Apr. 2026, 16:39
![Finance Minister Koo Yun-cheol speaks during an emergency economic headquarters meeting at the Embassy of Korea in Washington on April 16 in this photo provided by his office. [YONHAP]](https://koreajoongangdaily.joins.com/data/photo/2026/04/19/5c5eae19-bf10-455f-8400-03fe75e3b9e8.jpg)
Finance Minister Koo Yun-cheol speaks during an emergency economic headquarters meeting at the Embassy of Korea in Washington on April 16 in this photo provided by his office. [YONHAP]
Finance Minister Koo Yun-cheol has urged major economies to work together to bolster global supply chains and reinforce economic resilience amid the Middle East crisis, according to his office on Friday.
Koo made the call during the Group of 20 (G20) Finance Ministers and Central Bank Governors Meeting in Washington on Thursday, as the conflict, which began following the U.S.-Israeli strikes on Iran in late February, has disrupted global supply chains and unsettled financial markets.
"The Middle East crisis has heightened uncertainty in the global economy and financial markets, potentially acting as another constraint on economic growth," Koo said, according to the Ministry of Finance and Economy.
"Countries should limit spillover effects on the real economy through swift policy action and close international coordination. At the G20 level, it is necessary to explore ways to secure global supply chains and support the recovery of the world economy," he added.
Addressing global imbalances, Koo said Korea will continue to play a mediating role between advanced and emerging economies.
"Excessive and persistent imbalances among nations could pose another risk to the global economy," he said. "Cooperation among G20 members and other partners is essential to effectively prevent and manage such risks."
Koo also emphasized the need to strengthen the foundations for future growth by expanding investment in AI and pursuing regulatory innovation.
On the sidelines of the gathering, Koo held separate talks with his counterparts and economic delegates from France, Australia and Uzbekistan.
Roland Lescure, France's minister delegate for industry, invited Koo to the upcoming Group of 7 Finance Ministerial Meeting in Paris next month and called on Seoul to play an active role in addressing economic uncertainties stemming from the Middle East conflict, the ministry said.
In separate meetings with Australia's Treasurer Jim Chalmers and Uzbek Deputy Prime Minister Jamshid Khodjaev, Koo highlighted that the countries are key partners for Korea in supply chains, particularly for critical minerals, and proposed further expanding strategic partnerships.
Additionally, Koo met with Harvey Schwartz, the CEO of Carlyle, one of the world's largest asset managers, and requested continued interest and active investment in Korea.
The minister held separate meetings with World Bank President Ajay Banga, Asian Infrastructure Investment Bank President Zou Jiayi and Inter-American Development Bank President Ilan Goldfajn to discuss ways of enhancing cooperation.
Koo also met with U.S. Treasury Secretary Scott Bessent and International Monetary Fund Managing Director Kristalina Georgieva on Friday.
Yonhap
with the Korea JoongAng Daily
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