Deputy Prime Minister Koo Yun-cheol Affirms International Confidence in Korean Economy

Deputy Prime Minister Koo Yun-cheol, a senior official overseeing economic policy, announced on the 17th (local time) at the International Monetary Fund (IMF, an international financial institution) headquarters in Washington D.C., USA, that he confirmed the international community's high confidence in the Korean economy and its value as an investment destination.

Deputy Prime Minister Koo was in Washington D.C. to attend the G20 Finance Ministers and Central Bank Governors Meeting. During his four-day visit to the U.S., he attended various meetings and bilateral talks. The G20 meeting addressed key agenda items such as growth and imbalance resolution, and critical mineral supply chains. Deputy Prime Minister Koo spoke at each session, confirming expectations for Korea's role.

During his visit, Deputy Prime Minister Koo held meetings with the heads of the IMF, World Bank, Inter-American Development Bank, and Asian Infrastructure Investment Bank. He also met or planned to meet with finance ministers from countries including France, Uzbekistan, and the United States. Furthermore, he reported receiving feedback from officials at global asset management firms like Apollo, BlackRock, and PIMCO, highlighting high interest in the Korean market and numerous investment opportunities. Deputy Prime Minister Koo shared an anecdote where he responded that Koreans should invest first.

In a bilateral meeting with U.S. Treasury Secretary Scott Bessent on the afternoon of the 17th, discussions covered Korea's investment projects in the U.S., economic issues, and exchange rate matters. Deputy Prime Minister Koo mentioned that Korea's investments in the U.S. would be of interest to Secretary Bessent and introduced that the Ministry of Trade, Industry and Energy is currently preparing the first U.S. investment project. He noted that trends toward stabilization in exchange rates and oil prices related to Middle East conflicts would be positive signals for the Korean economy, and discussed these complex factors with Secretary Bessent. He added that discussions could take place regarding the exchange rate situation, which has stabilized in the 1460s won per dollar, if necessary.