U.S. Treasury Secretary Janet Yellen will reportedly visit South Korea next month.

According to a government source on Friday, coordination is underway to arrange the U.S. secretary's trip to Seoul in mid-July for meetings with South Korean government officials including finance minister Choo Kyung-ho.

Yellen's trip, if realized, would mark her first to the country since she assumed the post in January of last year.

During the trip, the former chair of the U.S. Federal Reserve is expected to exchange opinions with South Korean officials on the economic policies of the two nations and discuss ways to deal with soaring inflation.

There is particular interest in whether she will discuss additional sanctions against North Korea during the trip, amid speculation that the North may conduct a seventh nuclear test.

Working-level officials of the Treasury Department in charge of sanctions against North Korea may visit South Korea ahead of Yellen's potential trip.