The Korean finance minister, Yoon, Jeung Hyun, is going to attend the G-20 meeting of finance ministers and central bankers on March 13 and 14, and hold an IR talk bilaterally with other finance ministers, and sign an MOU with the EBRD president on March 13.At the meeting, minister Yoon will discuss ways to cooperate internationally in terms of macroeconomic policies, credit market stability, and standing against protectionism. He will share Korea's experience of relieving bad loans through Korea Asset Management Corporation (KAMCO) during the Asian financial crisis. High on the agenda of the meeting are reforming international financial institutions, IMF and WB among others, and changing regulations on financial supervision to prevent a recurrence of the financial crisis.
The minister is going to have bilateral talks with British, Canadian and Australian counterparts where major topics for the April G-20 summit meeting are to be laid out.
An IR presentation will be given to international financial market players on March 13, where they will be informed of Korea's financial status and the Korean government's efforts to ride out the global crisis. The IR presentation is expected to correct any misunderstandings regarding the Korean economy and attract foreign investments to Korea. Minister Yoon will also have a talk with Thomas Mirow, President of the EBRD, on the Eastern European economic situations and cooperation with international financial institutions.
The two finance heads are going to sign an MOU, on the basis of which Korea will invest KRW6.6 billion in EBRD technical cooperation funds to support former communist countries in Eastern Europe.
The funds will assist the former communist countries in developing IT industries and sharing Korea's experience on economic development.
Release from Korea.net
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