According to Yonhap News,

South Korea has chaired a meeting of vice finance ministers and central bank deputy governors in the Asia Pacific region, focusing on innovation and financial and fiscal issues, the finance ministry in Seoul said Friday.

The Asia-Pacific Economic Cooperation (APEC) Finance and Central Bank Deputies' Meeting was held from Wednesday to Friday in Gyeongju, some 275 kilometers southeast of Seoul, according to the Ministry of Economy and Finance.

It was the first event hosted by South Korea, which assumes the presidency for this year's 2025 APEC Finance Ministers' Meeting.

During the meeting, the South Korean delegation outlined the agenda and work plans for the 2025 Finance Ministers' gathering, emphasizing the need for a new road map to guide economic cooperation as the previous 2015 action plan nears its conclusion.

To shape the new road map, South Korea proposed four key pillars: growth through innovation, resilient and innovative finance, sustainable and efficient fiscal policy, and an inclusive and future-oriented economy.

The 2025 APEC Finance Ministers' Meeting and the APEC Ministerial Meeting on Structural Reform will take place from Oct. 19-23 in Incheon, west of Seoul.

brk@yna.co.kr

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Source: Yonhap News (March 7, 2024)