Ministry of Economy and Finance Attends G20 Deputy Finance Ministers and Central Bank Deputy Governors Meeting

Hong Nam-ki, Deputy Prime Minister for Economy and Minister of Strategy and Finance. [Image source=Yonhap News]

[Asia Economy Reporter Donghyun Choi] The Ministry of Economy and Finance announced on the 24th that it will attend the G20 Deputy Finance Ministers and Central Bank Deputy Governors Meeting held online on the 25th and 26th.

This meeting is the first G20 Deputy Finance Ministers Meeting hosted by Italy, the G20 chair country this year, where the work plan and operational direction for this year will be discussed.

Yoon Tae-sik, Director General for International Economic Affairs, who will attend the meeting, plans to emphasize the importance of revitalizing trade through the restoration of multilateralism, closing the vaccine gap, enhancing productivity through digital and green transitions, and addressing disparities between social classes during the global economy session.

In the international financial system session, he plans to deliver a keynote speech addressing the extension of debt repayment moratoriums for low-income countries, flexible policy responses related to capital flows, and analysis of the impact of digital currencies on the international financial system.

Additionally, he will mention the differentiated approach between digital service industries and manufacturing industries regarding the introduction of digital taxes, the restoration of multilateralism centered on the World Health Organization (WHO) to strengthen pandemic response capabilities, and South Korea's efforts toward a low-carbon economic transition.

This year’s G20 meetings will begin with this Deputy Finance Ministers Meeting, followed by four Finance Ministers Meetings in February, April, July, and October, and one Leaders’ Summit in October.

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