US Treasury Secretary Janet Yellen will meet with South Korean President Yoon Suk-yeol along with other senior officials in Seoul as part of her visit to the Indo-Pacific region, the Treasury Department has confirmed.
Leading the agenda at the meeting will be the global response to continued Russian aggression in Ukraine, with Yellen set to make the case for a proposed cap on Russian oil prices. Talks will also be held on how to mitigate global supply chain issues through improved trade ties.
Yellen will also meet with Bank of Korea Governor Rhee Chang-yong and Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho, the treasury confirmed, as well as hosing separate discussions with female business leaders over the role of women in boosting economic growth.
Yellen visited has already travelled to Japan as part of her trip, along with the Indonesian island of Bali which hosted a meeting of finance officials from the Group of 20 major economies.
The treasury confirmed that Yellen has scheduled a speech to coincide with the end of the tour, in which she will reiterate the importance of building strong trading partnerships with allies in the region such as South Korea.