(LEAD) S. Korea, U.S. hold first 2+2 meeting of finance, monetary policymakers

South Korea and the United States convened their inaugural two-plus-two meeting of finance and monetary policymakers during a Group of 20 (G20) ministerial gathering, according to the South Korean finance ministry. The meeting, held in Bangkok on Friday, saw Finance Minister Lee Hyoung-il and Bank of Korea Governor Shin Hyun-song engage in discussions with U.S. Federal Reserve Chair Kevin Warsh and Deputy Treasury Secretary Francis Brooke.

The participants deliberated on recent economic developments and explored avenues to bolster bilateral economic and financial cooperation. Finance Minister Lee emphasized the significance of the meeting, noting it was the first occasion where senior officials from both nations' finance and monetary authorities convened. The U.S. Treasury Secretary, Scott Bessent, was notably absent from the Bangkok event.

The finance ministry official highlighted the meeting's objective to enhance coordination between the two countries' financial and monetary policies, aiming to swiftly and effectively tackle external financial uncertainties. Lee was in Bangkok to attend the G20 finance ministers meeting and the 2026 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group, marking his first overseas trip since assuming office last month.

Under Secretary for International Affairs at the U.S. Treasury, Erin Browne, also participated in the Bangkok meeting, affirming that the parties discussed strategies to fortify bilateral cooperation, sharing insights on economic and financial conditions in both nations and exploring further avenues to strengthen U.S.-Korea economic and financial collaboration, as shared on social media X.