South Korea's Ministry of Economy and Finance reported that Deputy Prime Minister and Minister Koo Yun-cheol chaired the 26th China-Japan-Korea Finance Ministers and Central Bank Governors Meeting in Samarkand, where the three countries reviewed the economic impact of the war in the Middle East and discussed policy responses. The meeting focused on closer trilateral cooperation to support regional financial stability and improve the effectiveness of ASEAN+3 financial safety net arrangements amid heightened external uncertainty. Participants said the three economies had remained solid through last year and into the first quarter, but that the Middle East conflict had increased uncertainty and downside risks. Koo called for closer information sharing and joint work on shared structural challenges, including low birth rates and ageing, weaker growth potential, and supply chain stabilisation. On ASEAN+3 financial cooperation, he urged joint efforts to strengthen the effectiveness of the Chiang Mai Initiative Multilateralisation, a USD 240 billion multilateral currency swap arrangement for crisis liquidity support, and to reinforce the capacity of the ASEAN+3 Macroeconomic Research Office. Finance ministers and central bank governors shared the view that close communication and solidarity among the three countries can contribute to regional financial stability. The next trilateral meeting will be held in Nagoya, Japan, where the 2027 30th ASEAN+3 Finance Ministers and Central Bank Governors Meeting is scheduled to take place.

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