South Korea and US hold first 2+2 monetary-financial meeting — Korea Herald

South Korea and the United States held their first-ever 2+2 meeting in Bangkok, Thailand, involving the heads of financial and monetary authorities. The talks took place on the sidelines of the G20 finance ministers' meeting, Korea Herald reports.

Participants in the talks

South Korea was represented by Finance Minister Lee Hyeon Il and Bank of Korea Governor Shin Hyeon Son. US Federal Reserve Chair Kevin Warsh and US Deputy Treasury Secretary Francis Brooke took part in the meeting on behalf of the United States. US Treasury Secretary Scott Bessent was not present at the event in Bangkok.

The participants exchanged views on recent economic trends and ways to strengthen bilateral economic and financial cooperation. Lee Hyeon Il said the talks were the first meeting to bring together senior officials from the financial and monetary authorities of both countries.

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Policy coordination

A representative of South Korea's Ministry of Economy and Finance said the meeting aimed to enhance coordination between the financial and monetary authorities of the two countries. According to the official, the format established a cooperation framework for a prompt and effective response to external financial uncertainty.

Lee Hyeon Il arrived in Bangkok to attend the G20 finance ministers' meeting and the 2026 annual meetings of the International Monetary Fund and the World Bank Group. It was his first foreign trip since being appointed minister last month.

US Deputy Treasury Secretary for International Affairs Erin Brown, who was also present at the meeting, said that the four institutions discussed economic and financial conditions in both countries and opportunities to further strengthen US-South Korea cooperation.