Finance Minister Choo Kyung-ho Meets US Treasury Secretary, Requests Consideration of Korean Industry Perspectives
Choo Kyung-ho, Deputy Prime Minister and Minister of Economy and Finance, met with U.S. Treasury Secretary Janet Yellen in Marrakech, Morocco, on the 12th (local time) for a bilateral meeting and said, "Please continue to consider the perspective of Korean industries."
Deputy Prime Minister Choo exchanged views on bilateral issues with Secretary Yellen in Marrakech, where he attended the G20 Finance Ministers' Meeting. This meeting between Deputy Prime Minister Choo and Secretary Yellen came about a month after the G20 Summit in New Delhi, India, on the 10th of last month.
The reason Deputy Prime Minister Choo emphasized Korea's position is due to the increasingly intense U.S. trade barriers. The U.S. is reorganizing the global supply chain centered on China into a U.S.-centric one by leveraging the CHIPS Act and the Inflation Reduction Act (IRA). This is interpreted as a request to ensure that Korean companies do not suffer damage in the process.
On the 12th (local time), Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho is shaking hands and taking a commemorative photo with U.S. Treasury Secretary Janet Yellen in Marrakech, Morocco, before their meeting. Photo by Ministry of Economy and Finance
View original imageOn the same day, the World Bank (WB) Development Committee discussed medium- to long-term development plans. Deputy Prime Minister Choo proposed, "We must promptly advance research and projects on new global challenges so that the World Bank can fulfill its role as a knowledge bank that disseminates development experience and knowledge to developing countries."
Hot Picks Today
"Could I Also Receive 370 Billion Won?"... No Limit on 'Stock Manipulation Whistleblower Rewards' Starting the 26th
- Samsung Electronics Labor-Management Reach Agreement, General Strike Postponed... "Deficit-Business Unit Allocation Deferred for One Year"
- "From a 70 Million Won Loss to a 350 Million Won Profit with Samsung and SK hynix"... 'Stock Jackpot' Grandfather Gains Attention
- "Stocks Are Not Taxed, but Annual Crypto Gains Over 2.5 Million Won to Be Taxed Next Year... Investors Push Back"
- "Who Is Visiting Japan These Days?" The Once-Crowded Tourist Spots Empty Out... What's Happening?
Meanwhile, meetings with major countries were also held to promote the bid for the 2030 Busan World Expo. In the meetings, Deputy Prime Minister Choo expressed his determination to support economic development through various policy measures and requested support for the Expo.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
