South Korea's Ministry of Economy and Finance announced that Deputy Prime Minister and finance minister Koo Yun-cheol will travel to Samarkand, Uzbekistan, on May 2 to chair the China, Japan and South Korea Finance Ministers and Central Bank Governors' Meeting, attend the ASEAN+3 Finance Ministers and Central Bank Governors' Meeting and the 59th Annual Meeting of the Asian Development Bank, and hold bilateral meetings with the ADB president, Uzbekistan's deputy prime minister and Singapore's Second Minister for Finance. The agenda centers on recent economic conditions and policy responses linked to developments in the Middle East war, regional financial cooperation and the ADB's role in supporting sustainable and inclusive growth. At the trilateral meeting on May 3, finance ministers and central bank governors from China, Japan and South Korea will share views on their economic situations and policy responses and exchange views on ASEAN+3 regional financial cooperation issues. The ASEAN+3 meeting will bring together ministers and governors from 14 ASEAN+3 economies and senior officials from the International Monetary Fund, Asian Development Bank and ASEAN+3 Macroeconomic Research Office to assess global and regional economic trends, discuss risk factors stemming from the Middle East war and consider ways to strengthen the regional financial safety net, including the Chiang Mai Initiative Multilateralisation. The CMIM is a multilateral currency swap arrangement totaling USD 240 billion, with South Korea contributing USD 38.4 billion, or 16%. At the ADB annual meeting on May 4 and 5, Koo will join the Board of Governors business session to discuss the bank's role and cooperation among member countries. The ministry said a separate release on the results of the trip will follow.
Ministry of Economy & Finance (South Korea) 2026-04-30
South Korea's Ministry of Economy and Finance sends Koo Yun-cheol to chair China Japan South Korea finance ministers and central bank governors meeting and attend ASEAN Plus Three and ADB meetings in Uzbekistan
South Korea’s Ministry of Economy and Finance announced that Deputy Prime Minister and finance minister Koo Yun-cheol will visit Samarkand, Uzbekistan, to chair the China, Japan and South Korea Finance Ministers and Central Bank Governors’ Meeting, attend the ASEAN+3 Finance Ministers and Central Bank Governors’ Meeting and the 59th Annual Meeting of the Asian Development Bank. Discussions will focus on economic conditions and policy responses related to the Middle East war, regional financial cooperation and strengthening the regional financial safety net, including the USD 240 billion Chiang Mai Initiative Multilateralisation, as well as the Asian Development Bank’s role in supporting sustainable and inclusive growth.