Image: Reuters Berita 24 English - As she concludes her first trip as secretary to the Indo-Pacific region, U.S. Treasury Secretary Janet Y...
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| Image: Reuters |
Berita 24 English - As she concludes her first trip as secretary to the Indo-Pacific region, U.S. Treasury Secretary Janet Yellen will meet with South Korean President Yoon Suk-yeol and other top officials in Seoul on Tuesday, according to the Treasury Department.
Yellen will discuss attempts to address supply chain bottlenecks through "friendshoring," or expanding trade connections with dependable economic partners like South Korea, during her discussions in Seoul, according to Treasury. She will also continue to advocate for a proposed cap on the price of Russian oil.
In addition to Yoon, Yellen will meet with Choo Kyung-ho, the deputy prime minister and minister of economy and finance, and Rhee Chang-yong, the governor of the Bank of Korea.
According to Treasury, she will attend separate meetings with prominent South Korean women academics and business owners to explore how a rise in female labour force participation may stimulate economic growth.
She will also visit the facilities of LG Corp., one of South Korea's biggest businesses, which recently announced investments in American battery production, according to Treasury.
After the tour, Yellen will give a speech in which she will emphasise the value of collaboration with friends like South Korea in strengthening supply chains, reducing inflationary pressures, and bringing down prices for American consumers, the statement added.
Before going to the Indonesian island of Bali to meet with finance ministers from the Group of 20 major nations, Yellen spent last week in Japan.
