South Korea’s deputy prime minister and finance minister Lee Hyeong-il and Bank
of Korea Governor Shin met with Federal Reserve chair Kevin Warsh and the U.S.
Treasury deputy secretary on Oct. 16 in Bangkok during the IMF/WBG annual
meetings in the first four-way 2+2 talks between the two countries. Participants
discussed recent economic developments and bilateral economic and financial
cooperation. A South Korean finance ministry official said the meeting was
intended to strengthen policy coordination between fiscal and monetary
authorities and to establish a cooperation mechanism to enable faster, more
effective joint responses to external financial shocks.
