South Korea's Ministry of Economy and Finance reported that Deputy Prime Minister and Minister Koo Yun-cheol attended the International Monetary and Financial Committee (IMFC) as an IMF Governor, participated in special sessions of the G7 finance ministers and central bank governors meeting in Washington, and met IMF Managing Director Kristalina Georgieva. Discussions covered policy responses to the economic impact of the Middle East war, the need for structural reforms during the AI transition, and the IMF’s role in supporting multilateral macroeconomic policy coordination. At the IMFC, Koo exchanged views with other finance ministers and central bank governors on policy responses and the IMF’s policy direction, alongside the IMF’s assessment in its Global Policy Agenda that uncertainty has increased due to the Middle East war. He aligned with IMF advice to maintain fiscal soundness while supporting vulnerable sectors, and explained that Korea is rapidly preparing and executing a supplementary budget without expanding national debt. In the G7 special sessions on global imbalances and critical minerals, he discussed strengthening G7–G20 linkages and expanding multilateral development bank participation in critical-mineral cooperation projects, arguing that both surplus and deficit economies need to act and highlighting human-capital investment including AI education and structural reforms such as pension reform. In his meeting with Georgieva, Koo set out Korea’s policy direction under a medium-term fiscal soundness stance and highlighted plans to contribute to AI innovation capacity-building for vulnerable countries through a global AI hub under development. The IMF Managing Director expressed interest in the AI hub concept, and the sides agreed to examine ways to strengthen cooperation to support AI capacity-building for vulnerable countries.
Ministry of Economy & Finance (South Korea) 2026-04-19
South Korea's Ministry of Economy and Finance outlines fiscal and AI-era reform priorities at IMFC and G7 meetings and discusses AI capacity-building cooperation with the IMF
South Korea’s Ministry of Economy and Finance said Deputy Prime Minister Koo Yun-cheol attended the International Monetary and Financial Committee and G7 sessions in Washington, focusing on policy responses to the Middle East war, structural reforms amid the AI transition, and the IMF’s role in multilateral macroeconomic coordination. Koo backed fiscal soundness while aiding vulnerable sectors, detailed a supplementary budget that avoids new national debt, and urged joint action by surplus and deficit economies on global imbalances and critical minerals. In a meeting with IMF Managing Director Kristalina Georgieva, he outlined Korea’s plan to support AI innovation capacity-building for vulnerable countries through a global AI hub, and both sides agreed to explore closer cooperation.