South Korea's finance minister held talks with the head of global investment bank Citigroup Inc. on Monday (local time) to share his views on global recovery trends and its impact on Asia's fourth-largest economy.
At the meeting with Citigroup CEO Michael Corbat in New York, Finance Minister Yoo Il-ho said the South Korean economy has managed to pull off modest growth led by brisk exports which posted the fifth straight month of gains since November on the back of increased global demand.
South Korea's Finance Minister Yoo Il-ho (left) shakes hands with Citigroup Inc. CEO Michael Corbat in New York on April 24, 2017. (Ministry of Strategy and Finance)
The upturn in exports seems to be bringing about recovery in the real economy such as production and investment, he said.
The top economic policymaker said Seoul will make all-out efforts to keep uncertainties such as a possible trade row between the United States and China and geopolitical issues over North Korea from impacting the overall South Korean economy.
Citigroup's Corbat said South Korea has good financial strengths and solid economic fundamentals to deal with future external and internal risks.
Yoo has been on a week-long US trip attending the Group of 20 Finance Ministers and Central Bank Governors meeting in Washington. (Yonhap)