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S. Korean acting president, BOK chief not to attend related G20 meeting in South Africa

February 21, 2025

Acting President Choi Sang-mok and Bank of Korea (BOK) Gov. Rhee Chang-yong will not be attending the meeting of the finance ministers and central bank governors of the Group of 20 (G20) nations in South Africa next week, according to officials Friday.

Choi decided to skip the meeting, set for Wednesday through Thursday (local time), in Cape Town, as he will tend to domestic priorities as the acting president, the finance ministry said, amid the judicial proceedings under way for impeached President Yoon Suk Yeol over his short-lived martial law attempt.

First Vice Finance Minister Kim Beom-suk is likely to attend the G20 ministerial meeting on Choi’s behalf.

Choi’s decision to miss next week’s gathering also appears to be related to the fact that U.S. Treasury Secretary Scott Bessent has opted out of the meeting.

Rhee also decided to sit out the meeting as the BOK is scheduled to hold its rate-setting meeting next Tuesday.

Acting President Choi Sang-mok (R) and Bank of Korea Gov. Rhee Chang-yong attend an economic and finance policy meeting at the government complex in Seoul on Jan. 10, 2025, in this file photo provided by the finance ministry. (PHOTO NOT FOR SALE) (Yonhap)
Acting President Choi Sang-mok (R) and Bank of Korea Gov. Rhee Chang-yong attend an economic and finance policy meeting at the government complex in Seoul on Jan. 10, 2025, in this file photo provided by the finance ministry. (PHOTO NOT FOR SALE) (Yonhap)