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Finance minister to point out 'limits' of quantitative easing polices at OECD meeting

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(Globalpost/GlobalPost)

SEJONG, May 27 (Yonhap) -- South Korea's Finance Minister Hyun Oh-seok is expected to bring attention to the "limits" of quantitative easing steps taken by advanced countries during a meeting of the Organization for Economic Cooperation and Development (OECD) this week, his office said Monday.

Hyun, who also serves as deputy prime minister in charge of economy affairs, will leave for Paris to attend the OECD Ministerial Council Meeting scheduled for Wednesday and Thursday local time, according to the finance ministry.

The meeting is one of the most important annual gatherings of the OECD.

"He is expected to point out the limits of the advanced countries' quantitative easing polices just as he did during the previous group of 20 meetings and will also underline the need for an active discussion about how to manage cross-border capital movement," his office said in a press release.

Hyun plans to have bilateral talks with his counterparts from other countries, while participating in discussion sessions to share his views on jobs and other pending issues.

He will also join an investor relations meeting in London scheduled for later this week to explain the latest economic situations, including geopolitical risks and the impact of the weak yen on the Korean economy to potential foreign investors.

Meanwhile, the minister earlier said during a meeting with other policymakers here that one of the government's top priorities is to raise the overall employment rate to 70 percent from the current 59.8 percent.

Hyun noted that the government should muster all of its policy capacity aimed at generating more jobs and achieve the employment target.

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http://www.globalpost.com/dispatch/news/yonhap-news-agency/130527/finance-minister-point-out-limits-quantitative-easing-police