S Korea, US Hold First 2+2 Meeting Of Finance, Monetary Policymakers

(MENAFN- IANS) Bangkok, Oct 17 (IANS) South 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 finance ministry 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 was taking place, according to the Ministry of Finance and Economy.

The participants exchanged views on recent economic developments and ways to enhance bilateral economic and financial cooperation, reports Yonhap news agency.

Lee said the meeting was meaningful as it marked the first time the two countries had brought together senior officials from their respective finance and monetary authorities.

U.S. Treasury Secretary Scott Bessent did not attend the Bangkok event.

An official from the finance ministry said the meeting aimed to enhance coordination between the two 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 countries 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 (IMF) and the World Bank Group. It was his first overseas trip as finance minister since taking office last month.

Separately, Erin Browne, under secretary for international affairs at the U.S. Treasury, who also attended the Bangkok meeting, said 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 further strengthen U.S.-Korea economic and financial cooperation," Browne wrote on social media X.

-IANS

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