Yellen To Visit South Korea In July, Aiming Sanctions On North Korea

It was reported On June 24th that U.S. Treasury Secretary Janet Yellen will visit South Korea next month. The two countries will talk about rising inflation, the effect of sanctions on Russia, and further sanctions on North Korea over its nuclear program.

U.S. Treasury Secretary Janet Yellen testifies before a Senate Finance Commmittee hearing on President Biden’s 2023 budget, on Capitol Hill in Washington, U.S., June 7, 2022. 

Yellen will meet with South Korea’s Foreign Minister and Finance Minister to discuss North Korea issue. As intelligence officials in both the U.S. and South Korea now believe North Korea intends to conduct its first nuclear test in five years. South Korea has conjectured that North Korea may add tactical nuclear weapons to its arsenal.

Last week, after meeting with U.S. Secretary of State Blinken, South Korean Foreign Minister Park Jin stated at a press conference that the U.S. and South Korea need to push for a new U.N. Security Council resolution to respond to new provocative acts by North Korea. Allies and the international community will response unitedly and uncompromisingly if Pyongyang continues to conduct nuclear tests.

During her visit to Seoul, Yellen also plans to discuss the effect of comprehensive sanctions on Russia over the Russia-Ukraine war and the economic situation caused by the recent raising inflation in both countries.