U.S. Treasury's Yellen to meet South Korea's Yoon on final leg of Asia trip

LG

18/07/2022 01:00

NUSA DUA, Indonesia, July 18 (Reuters) - U.S. Treasury
Secretary Janet Yellen will meet with South Korean President
Yoon Suk-yeol and other senior officials in Seoul on Tuesday as
she wraps up her first visit as secretary to the Indo-Pacific
region, the Treasury Department said.
    During her meetings in Seoul, Yellen will continue to push
for a proposed cap on the price of Russian oil and discuss
efforts to address supply chain bottlenecks through
"friendshoring" - or boosting trade ties with trusted economic
partners like South Korea, Treasury said.
    In addition to Yoon, Yellen will meet with Bank of Korea
Governor Rhee Chang-yong and Deputy Prime Minister and Minister
of Economy and Finance Choo Kyung-ho.
    She will hold separate discussions with leading South Korean
women economists and entrepreneurs to discuss how increased
labor force participation by women can boost economic growth,
Treasury said.
    She will also tour the facilities of one of South Korea's
largest companies, LG Corp  003550.KS , which has recently
announced investments in manufacturing batteries for electric
vehicles in the United States, Treasury said.
    In a speech after the tour, Yellen will focus on the
importance of partnerships with allies like South Korea in
building more resilient supply chains, easing inflationary
pressures and lowering costs for American consumers, it said.
    Yellen visited Japan last week before traveling to the
Indonesian island of Bali to participate in a meeting with
finance officials from the Group of 20 major economies.    

 (Reporting by Andrea Shalal; editing by Diane Craft)
 ((andrea.shalal@tr.com; +1 202-815-7432;))