G20 Finance Ministers’ Meeting, Washington D.C

DPM Hong Has Bilateral Talks with Counterparts

from UK, Canada, Argentina and Indonesia

DPM Hong met with his counterparts from UK, Canada, Argentina and Indonesia while attending the G20 Finance Ministers and Central Bank Governors’ Meeting held in Washington on October 13. 

Talk with UK Chancellor of the Exchequer

At the Korea-UK finance ministers’ talk, the two leaders discussed financial cooperation that will be developed with the listing of Korea’s green bonds at the London Stock Exchange (LSE), as well as climate change cooperation through COP26[1] scheduled in Glasgow UK in November 2021.  UK Chancellor of the Exchequer Rishi Sunak appreciated Korea’s debt listing at the LSE and asked Korea’s support for the 2021 COP26, and DPM Hong thanked for the invitation to the Glasgow conference and proposed deepening bilateral cooperation in the finance and climate sectors.

Talk with Canada’s Deputy Prime Minister

DPM Hong met with Canada’s Deputy Prime Minister and Minister of Finance, Chrystia Freeland, and discussed the issue of finding a balance between disease control and economy-booting policies.  Canada’s DPM Freeland explained the country’s vaccine rollouts and disease control situation, and DPM Hong introduced Korea’s business loss compensation programs for small merchants and talked about the living with Covid-19 policies the country is working on.  The two leaders exchanged views on the global supply chain disruptions and digital tax issues that have yet to be agreed.

Talk with Argentina’s Economy Minister

Korea’s Finance Minister and Argentina’s Economy Minister Martin Guzman had a talk over the issue of monetary policy normalization in major economies and its possible impact on emerging economies, which the two leaders shared their views on.  The two economic ministers agreed to cooperate for IMF’s macro-prudential measures to be applied flexibly taking into considering individual countries’ economic conditions.

Talk with Indonesia’s Minister of Finance

DPM Hong met with Indonesia’s Minister of Finance Sri Mulyani Indrawati and agreed to work together for the successful G20 meeting in 2022 when Indonesia will assume the G20 presidency.  The two finance ministers exchanged thoughts on next year’s agenda for the G20.