South Korea will convene a meeting of officials from China, Japan and other Asian countries on Wednesday to discuss ways to foster sustainable development without increasing budget deficits.

The Ministry of Strategy and Finance said it will host the conference at the Grand Intercontinental Hotel in southeastern Seoul through Friday jointly with the International Monetary Fund to focus on ways to secure state budgets for sustainable growth amid the worsening debt crisis in the eurozone.

The seminar will also include discussions on how to spend government budgets effectively to improve social welfare and create jobs. 

(Yonhap News)