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Finance ministers of S. Korea, France vow stronger cooperation

All News 20:51 June 02, 2016

SEOUL, June 2 (Yonhap) -- South Korea and France have agreed to further strengthen their economic cooperation, also joining forces to tackle uncertainties in the global financial market, the Seoul government said Thursday.

The agreement came at a meeting between South Korean Finance Minister Yoo Il-ho and his French counterpart Michel Sapin in Paris, according to the Ministry of Strategy and Finance.

The bilateral meeting was held on the sidelines of the Organization for Economic Cooperation and Development meeting in the French capital.

"Minister Yoo and Minister Sapin agreed that South Korea and France, as co-chairs of the G20 working group of global financial system, will work closely together to ensure stability and development of the global financial system," the ministry said in a press release.

"Minister Yoo especially pointed out a need to strengthen global financial safety nets to deal with risks currently facing the global economy and growing fluctuations in the financial market," it added. "Minister Sapin expressed his strong agreement."

The Yoo-Sapin meeting came on the eve of a summit between South Korean President Park Geun-hye and her French counterpart Francois Hollande, also to be held in Paris, at which the two heads of state were widely expected to urge joint efforts to address various international and regional issues, including recent military provocations from communist North Korea.


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