Yellen Visits Korea... Visits LG Science Park for Supply Chain Cooperation

[Image source=AP Yonhap News]

[Asia Economy New York=Special Correspondent Joselgina] U.S. Treasury Secretary Janet Yellen is scheduled to visit LG Science Park during her trip to Korea on the 19th-20th to emphasize supply chain cooperation.

According to the detailed schedule released by the U.S. Treasury Department on the 11th (local time), Secretary Yellen will visit LG Science Park, where the research and development (R&D) organizations of eight major LG Group affiliates are gathered, during her stay in Korea to tour the facilities. At this event, she is expected to deliver a speech emphasizing the need to build a resilient supply chain based on cooperation with Korea, a key ally.

On the morning of the 19th, she will also meet with Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho, Bank of Korea Governor Lee Chang-yong, and others. The discussions will cover economic and financial cooperation between the two countries as well as sanctions against Russia. The Treasury Department confirmed, "During her tour, Secretary Yellen will discuss measures to strengthen historic-level sanctions that have significantly weakened Russia's economic and military capabilities," adding, "The price cap on Russian crude oil will also be addressed."

During her visit to Korea, she will also meet with Korean women entrepreneurs. Secretary Yellen is expected to mention that expanding women's participation in the workforce contributes to economic growth and helps address labor shortages.

Meanwhile, prior to her visit to Korea, Secretary Yellen will attend the G20 Finance Ministers' Meeting held in Indonesia on the 15th-16th. Before visiting Indonesia, she will stop in Japan on the 12th. This is Secretary Yellen's first visit to the Indo-Pacific region as Treasury Secretary. The Treasury Department stated, "She will advance diplomatic policies to strengthen the economy and reaffirm the United States' leadership role in the region."

This content was produced with the assistance of AI translation services.