Finance Minister Hong Nam-ki and International Monetary Fund(IMF) Managing Director Christine Lagarde have again shared the view that expansionary fiscal policies are needed for South Korea. 

According to the Finance Ministry in Seoul on Monday, Hong met Lagarde on the sidelines of the G20 Finance Ministers and Central Bank Governors’ Meeting in Fukuoka, Japan on Saturday and agreed that such policies are needed in order to boost South Korea's economic growth and respond to risks. 

The ministry said the IMF had recommended in March that Seoul pursue expansionary policies, including a considerable supplementary budget. 

In Saturday’s meeting, Hong explained that in line with that advice, the government drew up a six-point-seven trillion won extra budget plan and presented it to the National Assembly. 

He said Seoul will work to secure the bill's passage through parliament so the economy can be promptly revitalized. 

Lagarde, for her part, stressed the need for a rules-based international trade system, and said the worsening trade row between the U.S. and China is having an increasingly negative effect on the global economy.