Finance minister Choo Kyung-ho and U.S. Secretary of the Treasury Janet Yellen met on the margins of International Monetary Fund and World Bank meetings in Morocco to exchange views on the economic impact of ongoing global security crises.

While the finance ministry did not disclose the details of the agenda in Thursday's meeting, Choo and Yellen are reported to have discussed Israel's war against Hamas and the ripple effect.

Choo thanked the U.S. government for allowing the export of its chip manufacturing equipment to Samsung Electronics and SK Hynix factories in China without separate authorization or time restrictions, before requesting continued consideration for South Korean firms.

The minister also sought to reinforce economic cooperation with other countries attending the meetings in Morocco, while securing support for the city of Busan's bid to host the 2030 World Expo.