South Korea urged other Group of 20(G20) members to adopt “strategic fiscal policies” centered on bold investment in high-productivity sectors such as AI, semiconductors and small modular reactors.

At a meeting of G20 finance ministers and central bank governors in Washington on Wednesday, Finance Minister Koo Yun-cheol outlined policy measures to address structural shifts driven by technological innovation and demographic change, citing South Korea’s “AI Transformation” and “Super-Innovation Economy” strategies to boost potential growth.

He also called for stronger G20 cooperation to tackle global economic imbalances and enhance debt transparency in developing nations.

Koo welcomed the G20’s first report on multilateral development bank reform and urged the broader use of blended finance to attract private investment.

On the sidelines, Koo joined a Group of Seven dialogue on combating AI-driven financial crimes, at Canada’s invitation, and met with Canadian Minister of Finance and National Revenue François-Philippe Champagne to discuss cooperation on trade, critical minerals and AI.