The Ministry of Economy and Finance (represented by Director General for International Economic Affairs Min Kyung-seol) attended the OECD 2025 Ministerial Council Meeting, held in Paris, France from June 3 to June 4. On the sidelines of the meeting the delegation also held a bilateral meeting with the Director of the OECD Country Studies Branch, who oversees the economic analysis of Korea.
* The Ministerial Council Meeting (MCM) is the highest-level meeting of the OECD, where ministers of finance, economy, foreign affairs, and other senior officials from the 38 member countries convene to discuss pressing global economic issues and set the organization’s key policy directions for the coming year.
The OECD 2025 Ministerial Council Meeting was held under the theme “Leading the way towards Resilient, Inclusive, and Sustainable Prosperity through Rule-based Trade, Investment and Innovation”. Costa Rica chaired the meeting, with Australia, Canada, and Lithuania serving as vice-chairs.
During the Global Economic Outlook session, the OECD assessed that downside risks persist amid rising global uncertainty, citing heightened geopolitical tensions, ongoing trade disputes among major economies, and persistent inflation. It also proposed policy alternatives aimed at strengthening international cooperation and resilience. Director General Min shared Korea’s policy experience in responding to supply chain restructuring and trade uncertainty, including sector-specific measures for potentially affected industries, export support initiatives, and the formulation of a supplementary budget.
Director General Min also participated in the session on fostering a sustainable global economy. During the session, the OECD emphasized the importance of private investment and consistent policy effort in achieving sustainable development goals such as environmental protection and gender equality. It recommended ensuring policy coherence and utilizing the policy assessment tools developed by the OECD. Director General Min expressed his agreement with the view that advancing the equitable distribution of the benefits of growth across generations and genders is essential for building a sustainable and forward-looking economy. He also shared Korea’s policy efforts, including the promotion of green finance, support for the green transition of SMEs, and enhanced market access for women-led businesses. He also stated that, building on today’s discussions, Korea will lead efforts to advance dialogue on enhancing financial and climate inclusiveness, as well as reducing inequality, at this year’s APEC Finance Ministers’ Meeting to be held in Korea.
In addition, on June 3, Director General Min met with Director for Country Studies Branch at the OECD Luiz de Mello, to discuss recent developments in the Korean economy and the progress in establishing the second Southeast Asia Desk in the OECD, which is scheduled to launch in 2025. Director de Mello expressed his appreciation for the Korean government’s contribution to the new Southeast Asia Desk and affirmed his commitment to continued cooperation with Korea on a wide range of economic issues.
Please refer to the attached files.
