WASHINGTON: South Korea’s Finance Minister, Choi Sang-mok, and Japan’s Finance Minister, Katsunobu Kato, have committed to enhancing economic cooperation between their countries during a meeting in Washington, D.C. The discussions took place on the sidelines of the Group of 20 Finance Ministers and Central Bank Governors Meeting and aimed at fostering stronger economic ties as the two nations approach the 60th anniversary of diplomatic normalization.
According to Yonhap News Agency, the finance ministers agreed to maintain close communications and collaborate on foreign exchange market responses and other economic and financial issues. They also emphasized the importance of continuing trilateral finance ministers’ meetings involving the United States, following the inaugural meeting held in April 2024, to strengthen cooperation on economic and financial matters.
In addition to his meeting with Kato, Minister Choi engaged in discussions with Ukraine’s Finance Minister, Sergii Marchenko, focusing on economic
cooperation to aid Ukraine’s recovery. Choi also met with Finnish Finance Minister Riikka Purra, addressing demographic challenges such as population aging and exploring enhanced cooperation on the supply chains of major industrial minerals.
Choi’s agenda further included talks with Australia’s Treasurer, Jim Chalmers, where he introduced South Korea’s carbon-free energy initiative. He sought support for South Korean companies aiming to participate in significant projects related to key minerals.