Korean finance minister to attend G-20 meeting in China

South Korea's finance minister will attend the Group of 20 meeting for top economic policymakers in China later this week to discuss global policy coordination amid increased market volatility and toughened economic conditions sparked by the British vote to exit the European Union, the finance ministry said Friday.

Finance Minister Yoo Il-ho, who doubles as the deputy prime minister for economic affairs, will attend the G-20 Finance Ministers and Central Bank Governors meeting to be held in Chengdu, China, on Saturday and Sunday, according to the Ministry of Strategy and Finance.

The meeting is one of the key ministerial-level sessions before the G-20 summit meetings to be held in the Chinese city of Hangzhou in September.

The ministers and governors of the world's top 20 economies will discuss ways to increase policy coordination among the member countries and international organizations as the world economy is facing heightened downside pressure and rising uncertainties in monetary policies.

The finance ministry said Yoo will stress the importance of policy coordination on building a stronger cooperative financial structure in the world.

Yoo is also expected to hold bilateral talks with his international counterparts, including Lou Jiwei of China, during the two-day meeting. (Yonhap)