Finance Minister Hong Nam-ki will depart for the U.S. on Tuesday to attend the G20 or Group of Twenty meeting of finance chiefs and central bankers.

According to the ministry, the G20 meeting on Wednesday will lay the groundwork for the G20 Summit set to be held in Rome from October 30 to 31.

Participants are expected to discuss a final agreement on a global digital tax scheme previously endorsed by 136 out of 140 member nations of the OECD and the G20.

Hong plans to explain Seoul's stance on the global tax scheme and carbon taxes in tackling climate change, while calling for policy coordination and promotion of free trade amid global economic risks.

On Thursday, the minister will attend a meeting of the International Monetary and Financial Committee, an advisory body of the International Monetary Fund's (IMF) board of governors, to discuss the IMF's role amid the continuing COVID-19 pandemic.

Hong is also scheduled for separate talks with U.S. Secretary of the Treasury Janet Yellen, Argentinian Economy Minister Martin Guzman, as well as the heads of the IMF, the World Bank and the Inter-American Development Bank.