Hong Nam-ki to Attend This Year's First 'G20 Finance Ministers Meeting' on the 26th

Discussion on Cooperation for Equitable Vaccine Distribution and Inclusive Economic Recovery Policies

Deputy Prime Minister and Minister of Economy and Finance Hong Nam-ki is delivering opening remarks at the 5th Big 3 Innovation Growth Promotion Meeting held at the Export-Import Bank in Yeouido, Yeongdeungpo-gu, Seoul on the 25th. Photo by Kim Hyun-min kimhyun81@

[Sejong=Asia Economy Reporter Moon Chaeseok] Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, will attend the upcoming Group of Twenty (G20) Finance Ministers and Central Bank Governors meeting held virtually on the 26th.

The Ministry of Economy and Finance announced on the 25th that this meeting will focus on key urgent issues among the G20 priorities agreed upon at last month's G20 Deputy Finance Ministers meeting.

First, policy coordination for inclusive economic recovery will be discussed, including overcoming the COVID-19 crisis, responding to economic structural transformation such as digitalization, and supporting vulnerable countries.

Enhancing the stability of the financial system and sustainable finance will also be topics of discussion.

Deputy Prime Minister Hong is expected to emphasize inclusive economic recovery in the global economy session, highlighting equitable vaccine supply, closing the digital divide, and support for vulnerable countries.

Regarding financial issues, he will stress the role of the G20 in preventing the spread of recent financial market instability factors and the importance of sustainable finance to address climate change.

This meeting is the first held this year by Italy, the G20 chair country for 2024.

The G20 plans to hold four finance ministers' meetings and one summit this year, including this first finance ministers' meeting.

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