The Republic of Korea and the United Kingdom have launched a new high-level dialogue channel to discuss ways to strengthen cooperation on a wide range of economic and financial issues, the Republic of Korea’s Ministry of Economy and Finance announced on Sunday.

According to Yonhap News Agency, the inaugural meeting of the bilateral economic and financial dialogue took place in London on Thursday, with Choi Ji-young, the Republic of Korea’s Deputy Finance Minister, and Lindsey Whyte, Director-General of HM Treasury, in attendance.

The establishment of the new dialogue channel was agreed upon during a summit between the Republic of Korea’s President Yoon Suk Yeol and then British Prime Minister Rishi Sunak in November 2023.

During the meeting, both sides exchanged views on domestic and global economic conditions and discussed ways to enhance bilateral cooperation on supply chains, economic security, multilateral economic cooperation, and climate change responses. Europe’s new carbon tax rules under the Carb
on Border Adjustment Mechanism were also on the agenda, according to the ministry.

Source: Emirates News Agency