South Korean and US financial authorities hold '2+2 meeting' On October 16th, according to Yonhap News Agency, South Korean Deputy Prime Minister and Minister of Finance and Economic Affairs, Lee Hyung il, attended the annual meetings of the International Monetary Fund (IMF) and the World Bank (WB) in Bangkok, Thailand. Along with the Governor of the Bank of Korea, Shin Hyun song, they held a four party meeting with Federal Reserve Chairman Walsh and US Deputy Secretary of the Treasury, Brooke. This is the first time that the finance ministries and central banks of the two countries have held a meeting in the form of a four party talks. During the meeting, participants discussed the recent economic situation and plans for economic and financial cooperation between the two countries. An official from the Ministry of Finance stated, "The purpose of this meeting is to strengthen policy coordination between the fiscal and monetary policies of the two countries," and said, "Its significance is to establish a cooperative mechanism so that in the event of external financial shocks, through close cooperation between fiscal and monetary authorities, we can respond more quickly and effectively