The Ministry of Strategy and Finance said Monday that it will jointly host the G20 Seoul Conference with Australia’s department of finance, the Korea Institute of Finance and the Korea Development Institute on Dec. 18-19.

Australia will host the G20 in 2014, and Sydney will host the first of two meetings of Group of 20 finance ministers and central bank governors on Feb. 21-23, 2014, according to the Australian prime minister’s office.

Korea’s Finance Ministry said the Seoul Conference will invite financial vice ministers, deputies, professors, researchers and analysts of G20 economies to discuss global financial market systems.

They will meet to evaluate the markets and recheck their financial policies implemented in their respective countries, as well as try to reach a consensus on the development of global safety-net systems against another financial crisis.

The Seoul Conference will also highlight monetary policies of G20 members, and analyze whether any potential side effects or spillover effects remain from the impending normalization of advanced economies’ unorthodox monetary policies, the Korean Finance Ministry noted.

This marks the second time for Seoul to host a G20-related event since it held the G20 summit in 2010.

By Park Hyong-ki (hkp@heraldcorp.com)