Finance minister to attend G20 finance ministerial meeting in India

South Korean Finance Minister Choo Kyung-ho plans to visit India this week to take part in a G20 finance ministerial meeting, his office said Wednesday, where he plans to call for global cooperation to cope with climate change and fragmentation.

Choo is scheduled to head to India on Thursday to participate in the two-day G20 Finance Ministers and Central Bank Governors meeting that will kick off in the southern Indian city of Bengaluru on Friday, according to the Ministry of Economy and Finance.

During the event, which is themed “One Earth, One Family, One Future,” Choo will call for multilateral development banks to play a bigger role in addressing poverty and climate change.

The finance minister will also highlight the importance of forging an efficient supply chain and seeking the integration of the global economy amid looming concerns over the fragmentation of trade activities, his office said.

Choo is set to hold bilateral meetings with counterparts from India, Australia and the European Union as well.

The minister will discuss issues surrounding the Carbon Border Adjustment Mechanism (CBAM) with EU counterpart Paolo Gentiloni, amid concerns that it may negatively affect South Korea’s steel exporters.

This year, the G20 plans to hold four rounds of ministerial meetings in the finance sector, including those scheduled for April, July and October.