(Sejong = Yonhap Infomax) Reporter Choi Jin-woo = High-ranking economic officials from Korea and Singapore will meet to discuss ways to cooperate with the sovereign wealth fund.
On the 18th, the Ministry of Strategy and Finance announced that it will hold the 8th Korea-Singapore high-level economic policy meeting with the Singaporean Ministry of Finance on the 21st in Seoul.
It will be held for the first time in eight years since 2014, and Seong-Wook Kim, Minister of International Finance Management (Vice Minister) of Korea, and Yee Ping Yi, Vice Minister of Singapore, will attend as senior representatives.
The Ministry of Strategy and Finance said, “We will share the role and policy direction of the two countries’ treasury departments related to the management of sovereign wealth funds and share views on ways of cooperation.”
South Korea has the Korea Investment Corporation (KIC) and Singapore has the Singapore Investment Authority (GIC) as their respective sovereign wealth funds.
The two organizations also expect an exchange of views on the recent global economy and on the economic trends and prospects of the two countries.
The policy tasks to respond to internal and external uncertainties such as the recent inflation situation and global economic downturn worries will also be discussed.
They will also talk about issues related to sustainable finance, such as green bond issuance and ASEAN’s green taxonomy, as well as issues relating to multilateral development banks such as the World Bank’s Pandemic Fund and the Asian Infrastructure Investment Bank (AIIB).
The Ministry of Strategy and Finance said, “This meeting will serve as an opportunity to further consolidate the friendly partnership with Singapore, Korea’s main partner in ASEAN.”
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