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Finance chief to depart for Washington to attend G20, IMF, World Bank meetings

Published: 14 Oct. 2025, 21:30

Finance Minister Koo Yun-cheol, left, shakes hands with U.S. Treasury Secretary Scott Bessent during their meeting in New York on Sept. 24. [JOINT PRESS CORPS]

Finance Minister Koo Yun-cheol is set to depart for Washington later this week to attend a series of international gatherings, the Finance Ministry said Tuesday, amid speculation he may hold a bilateral meeting with U.S. Treasury Secretary Scott Bessent on the sidelines to continue tariff negotiations.

Koo will depart for the U.S. capital on Wednesday for a four-day trip to attend meetings of the Group of 20 finance ministers and the annual gatherings of the International Monetary Fund (IMF) and World Bank, the ministry said in a press release.

On Wednesday and Thursday (local time), he is scheduled to attend the G20 meetings of finance ministers and central bank governors, followed by a G7 high-level dialogue hosted by Canada that will focus on AI, financial crime and fraud.

On Friday, Koo will attend the IMF meeting that brings together finance ministers and central bank governors from the 25 IMF member states, according to the ministry. Their discussions will cover the current global economic outlook, policy responses and the IMF's role in addressing emerging challenges.

During his stay in Washington, Koo plans to hold meetings with key counterparts, including finance ministers from major economies like Canada, as well as leaders of the IMF and World Bank.

Finance Minister Koo Yun-cheol speaks during a National Assembly audit at the National Assembly in Yeouido, western Seoul on Oct. 14. [NEWS1]

Attention is focused on whether Koo will also meet with Bessent on the sidelines of the multilateral meetings, as the two countries have made limited progress in negotiations following a framework trade deal reached in late July.

Korea and the United States have been in talks about the details of Seoul's $350 billion investment package as part of a framework trade deal reached in late July, under which the United States agreed to lower its reciprocal and sector-specific tariffs for Korea.

Seoul has reportedly demanded Washington establish a currency swap line, insisting such a massive direct investment may trigger a financial crisis for the country unless backed by necessary safeguards.

Yonhap