South Korea will step up cooperation with Indonesia and Singapore regarding global supply chain concerns aggravated by the war in Ukraine.

Finance minister Choo Kyung-ho on Friday held talks with his counterparts on the sidelines of a Group of 20 gathering in Bali, Indonesia.

During talks with Indonesia's finance minister Sri Mulyani Indrawati, the two sides discussed ways to boost investment in supply chains as Choo promised Korea's active participation in global efforts to restore free trade and reestablish supply chains.

He also asked for Jakarta to play a role in responding to export controls that cause instability to the global economy.

Noting that major Korean firms have advanced in the auto, battery, chemical and steel sectors in the Southeast Asian nation, Choo proposed the two sides step up cooperation on supply chains by combining Korean technology and Indonesian resources.

Minister Sri Mulyani asked for Seoul to invest in eco-friendly sectors and her country's transition to a green economy.

In talks with Singaporean finance minister Lawrence Wong, Choo said that as two countries that are founding members of the Indo-Pacific Economic Framework, Korea and Singapore can work together to improve the trade environment.

Choo said that in addition to managing fiscal and monetary policies to address the global crisis, enhancing economic productivity through fundamental structural reforms in labor and the public sector is equally important. 

Minister Wong said Singapore is focused on the education field, such as vocational training.