South Korea’s finance minister, Choo Kyung-ho, emphasized the importance of pursuing openness and fair trade rules for Asian countries to address economic fragmentation and geopolitical instability during the recent 56th Annual Meeting of the Board of Governors of the Asian Development Bank. He also pledged to support the ADB’s role in the restoration of global connectivity through international cooperation. The minister pointed out the need for establishing a robust multi-layered structure for cooperation in reshaping the global supply chain, digitalization, health, and climate cooperation. He highlighted how the COVID-19 pandemic increased demand for global solutions, including tackling climate change and low growth, which no single country can address alone. Choo also said that Asian nations should experience structural changes in sustainable growth to keep up with global changes. ADB President Masatsugu Asakawa expressed gratitude for South Korea’s contributions to the bank’s growth and Japan’s transition from a borrowing member to a donor country.
