High-Level Korea-US Economic Talks Held on the 14th... Discussions on Linking New Southern Policy and Indo-Pacific Strategy
Lee Tae-ho, Deputy Minister of Foreign Affairs, and Keith Krach, U.S. Under Secretary of State for Economic Growth, Energy, and the Environment, are taking a commemorative photo at the 4th Korea-U.S. High-Level Economic Consultation (SED) held on the 6th at the Ministry of Foreign Affairs building in Jongno-gu, Seoul. Photo by Moon Honam munonam@
View original image[Asia Economy Reporter Lim Cheol-young] Lee Tae-ho, the 2nd Vice Minister of Foreign Affairs, announced on the 13th that the "5th Korea-US High-Level Economic Consultation (SED)" with Keith Krach, US Department of State Deputy Secretary for Economic Affairs, attending as the chief representative, will be held on the morning of the 14th via video conference.
Both Korea and the US plan to broadly exchange opinions on various global cooperation issues including Korea-US economic cooperation amid the COVID-19 situation, bilateral cooperation in science and technology and energy, linkage cooperation between the New Southern Policy and the Indo-Pacific Strategy, women's economic empowerment, and new technologies. In particular, amid worsening US-China tensions, a key focus of this video conference is whether the US side will request participation in the Economic Prosperity Network (EPN), an anti-China economic bloc.
This consultation was established as a deputy minister-level economic diplomacy consultation channel between the Korean Ministry of Foreign Affairs and the US Department of State based on an agreement between the two heads of state during the Korea-US summit in October 2015. The 1st meeting was held in November 2015, the 2nd in January 2017, the 3rd in December 2018, and the 4th in November 2019.
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On the Korean side, the 2nd Vice Minister Lee Tae-ho will serve as the chief representative, with participants from the Ministry of Trade, Industry and Energy, Ministry of Economy and Finance, Ministry of Science and ICT, Ministry of Gender Equality and Family, Korea International Cooperation Agency (KOICA), Export-Import Bank of Korea, and Korea Overseas Infrastructure & Urban Development Corporation (KIND).
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