U.S. Treasury Secretary Janet Yellen to visit LG Science Park

Diplomacy

Published: 18 Jul. 2022, 10:17 Updated: 18 Jul. 2022, 19:56

U.S. Treasury Secretary Janet Yellen to visit LG Science Park

U.S. Treasury Secretary Janet Yellen meets with Minister of Economy and Finance Choo Kyung-ho at the Bali Nusa Dua Convention Center in Bali, Indonesia on Friday. [YONHAP]

United States Treasury Secretary Janet Yellen will make a stop at LG Science Park during her visit to Korea Tuesday, the Treasury Department announced Monday. LG Science Park is one of Korea’s largest R&D complexes. LG recently announced that it will invest in manufacturing batteries for electric vehicles in the U.S.

Yellen will also have a courtesy meeting with President Yoon Suk-yeol on Tuesday. In addition to Yoon, Yellen will meet with Bank of Korea Governor Rhee Chang-yong, Minister of Economy and Finance Choo Kyung-ho and other senior government officials.

During the visit, Yellen will discuss common economic issues between Korea and the U.S., such as measures to strengthen global supply chains and counter inflation. There are also speculations that the upper limit on the price of Russian crude oil could be on the agenda.

Yellen also plans to meet with female business leaders to exchange views on ways to expand women’s economic activity.

Yellen is currently in Bali participating in a meeting with finance officials from the Group of 20 major economies after visiting Japan last week.

Yellen became treasury secretary in January last year. She was previously Chair of the Federal Reserve, the first woman to serve in the position. Yellen’s visit Tuesday will mark the first time for a U.S. treasury secretary to visit Korea in six years.

BY LIM JEONG-WON [lim.jeongwon@joongang.co.kr]