August 8, 2022

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FILE PHOTO: G20 finance ministers, central bankers and senior officials meet in Bali

US Treasury Secretary Yellen met South Korea’s Yoon on the final leg of her Asia tour

During her meetings in Seoul, Yellen will press for a proposed cap on Russian oil prices and discuss efforts to address supply chain bottlenecks through “friendship” — or strengthening trade ties with trusted economic partners such as South Korea. Ministry of Finance.

In addition to Yoon, Yellen will meet Bank of Korea Governor Ri Sang-yong and Vice Prime Minister and Minister of Economy and Finance Su Kyung-ho.

She will hold separate talks with leading South Korean female economists and entrepreneurs to discuss how increasing women’s employment can boost economic growth, the Treasury said.

He will also visit the facilities of LG Corp, one of South Korea’s largest companies, which recently announced an investment in the US to make batteries for electric vehicles, the Treasury said.

In a speech following the tour, he said Yellen would emphasize the importance of partnering with allies like South Korea to build more resilient supply chains, reduce inflationary pressures and lower costs for American consumers.

Yellen visited Japan last week before traveling to the Indonesian island of Bali to attend a meeting with finance officials from the Group of 20 major economies.

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