With preparations for the Seoul G-20 Summit actively underway, the Korea Economic Institute hosted a private discussion on the role of the G-20 in international development policy with Deputy Minister Shin Je-yoon of the Ministry of Strategy and Finance. The meeting featured experts from across the field of development and government officials from members of the G-20 and developing countries. Together, they discussed how the G-20 can contribute to the global development agenda and ways to make the process of development more inclusive.

Shin, Je-Yoon was appointed Deputy Minister for International Affairs of the Ministry of Strategy and Finance in March 2008. He has been with the Ministry since 1982, serving in various posts. In his capacity as Deputy Minister for International Affairs, he has taken the lead in formulating effective policies to weather the global financial crisis. His contribution to Korea’s currency swap arrangements with the U.S., Japan and China was most remarkable and he has also been actively involved in international as well as regional coordination. He has been participating in the G20 Finance Deputy Ministers’ Meeting and he holds the chairmanship. He has been playing a key role in regional cooperation schemes including ASEAN+3 and his dedication and efforts culminated in the establishment of the Chiang Mai Initiative among ASEAN+3 countries. Previously, as Director General for the International Finance Bureau from 2007 to 2008, he was in charge of monitoring and managing exchange rates, advancing domestic foreign exchange systems and ensuring stability in financial markets in the aftermath of the sub-prime mortgage crisis. Prior to this, he served as Secretary to the President for National Economic Affairs in the Office of the President from May 2007 to November 2007. When working as Deputy Director General of the International Finance Bureau from May 2005 to May 2007, he was the chief financial sector delegate for the Korea-U.S. FTA negotiations.
From September 2002 to 2004, he served as Director of the Financial Policy Division, where he headed the Task Force Team for restructuring troubled credit card companies including LG Card, and where he led the establishment of the Korea Housing Finance Corporation, introducing long-term mortgage loans in Korea. Before that, Mr. Shin served as Director of the International Financial Policy Division between January 2001 and September 2002. His dedicated works during this term resulted in sovereign credit rating upgrades by Moody’s, S&P and Fitch, thus restoring Korea’s sovereign ratings to pre-crisis A-level. In the wake of the Asian Financial Crisis, Mr. Shin served as Deputy Secretary to the President for Financial Affairs from October 1999 to December 2001, contributing greatly to Korea’s efforts in overcoming the crisis.
Out of government, his career also included working in the Department of Insurance at the California State Government between 1996 and 1998 and establishing the Korea Center for International Finance in 1999. Also notable is his experience of working in the Federation of Korean Industries in 2004 as the first government official seconded to the private sector. Mr. Shin was born on March 25, 1958 and graduated from Seoul National University in 1981 with a degree in Economics. He passed the Higher Civil Service Examination with the highest score in 1981. He also holds a M.A. in Economics from Cornell University.