South Korea’s Ministry of Economy and Finance announced that the first trilateral meeting between the finance ministers of the U.S., South Korea and Japan was held in Washington, D.C. on April 17. The meeting, agreed upon during the three countries’ leaders’ summit at Camp David in Aug. 2023, aimed to strengthen economic and financial cooperation among the three countries and address challenges such as supply chain disruptions, financial instability and global issues like the climate crisis.

The joint press statement released after the meeting reaffirmed the countries’ commitment to promoting sustainable economic growth, financial stability and well-functioning financial markets. The ministers also discussed coordinating sanctions against Russia and North Korea, mobilizing financing for resilient supply chains and reforming multilateral development banks to better respond to global challenges.