President Yoon Suk-yeol, left, and U.S. Secretary of Treasury Janet Yellen / Yonhap and AP-Yonhap

President Yoon Suk-yeol will meet with U.S. Secretary of Treasury Janet Yellen on Tuesday, the presidential office said Monday.

Yellen is set to arrive in South Korea after attending a meeting of finance chiefs from the Group of 20 major economies in Indonesia.

During Yellen's visit, senior officials from the two nations are expected to discuss how to strengthen cooperation to cope with supply chain disruptions and sanctions against Russia's invasion of Ukraine.

The U.S. Treasury has targeted North Korea's revenue generating activities, including imposing sanctions on financial facilitators and procurement networks.

Yoon and Yellen are expected to have "candid discussions on pending economic issues between the two nations," an official at Yoon's office said.

The Treasury Department has said Yellen will discuss ways to build stronger supply chains to help curb rising prices during her visit to Seoul.

The U.S. secretary will also discuss ways to impose additional costs on Russia for its ongoing war in Ukraine, it added.

In Seoul, Yellen is also scheduled to meet with Finance Minister Choo Kyung-ho and Bank of Korea Gov. Rhee Chang-yong.

As for speculation that South Korea and the U.S. could discuss currency swap arrangements to stabilize the foreign exchange market when Yellen visits South Korea, Rhee told reporters last week that he does not have such a plan but expressed hopes that relevant talks could take place when she meets Choo. (Yonhap)