South Korea's finance minister and the top central banker emphasized on Wednesday the importance of cooperation and information sharing as economic uncertainty at home and abroad persists.

   "In a situation where economic uncertainty at home and abroad linger, I am happy that the government and the central bank can come together to discuss pending issues," said Finance Minister Bahk Jae-wan, who took office on June 2, before holding his first meeting with Bank of Korea (BOK) Gov. Kim Choong-soo.

   Gov. Kim said it is important that the government and the BOK cooperate and share information, adding that members of the Group of 20 leading nations closely cooperate on the global stage..

   The BOK raised the key interest rate last week by a quarter percentage point to 3.25 percent, the third rate hike this year in a bid to tame inflation. But a slew of economic uncertainty such as the eurozone debt crisis is serving as downside risks to economic growth.

Source: Yonhap News (June 15, 2011)