(LEAD) S. Korea, U.S. finance chiefs reaffirm bilateral economic cooperation

(ATTN: UPDATES dateline, lead; ADDS details of U.S. Treasury's statement in paras 6-7)

SEOUL/WASHINGTON Oct. 14 (Yonhap) -- The finance ministers of South Korea and the United States have reaffirmed the importance of economic and financial cooperation between the two countries, according to Seoul's finance ministry.

Finance Minister Lee Hyoung-il held a video conference with U.S. Treasury Secretary Scott Bessent for the first time since Lee took office last month, according to the ministry.

Bessent congratulated Lee on his appointment and stressed the importance of bilateral cooperation in economic and financial affairs.

Lee thanked Bessent for his congratulations and expressed hope for close communication and cooperation, the ministry said.

The two ministers also discussed shared economic policy priorities and ways to strengthen bilateral cooperation.

The Treasury also issued a release on the finance chiefs' virtual exchange.

"Secretary Bessent congratulated Deputy Prime Minister Lee on his new role and underscored the importance of the U.S.–Republic of Korea economic and financial relationship," the release said, adding, "The two officials discussed shared economic priorities and opportunities to strengthen bilateral cooperation."

In South Korea, the finance minister doubles as the country's deputy prime minister.

brk@yna.co.kr
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