A team of officials from the International Monetary Fund will visit South Korea this week to assess its economic conditions and exchange opinions on economic, financial and fiscal policies, the finance ministry said Wednesday.

During its stay, which will last until June 8, the IMF delegation will meet with the nation's key financial and economic policymakers from the finance ministry, the central bank and the Financial Services Commission, the ministry said. It will also visit major public and private companies.

The IMF team and Korean policymakers will exchange views on such issues as a slowdown in China and potential rate hikes in the U.S., which have a considerable impact on Asia's fourth-largest economy.

They will also discuss the country's labor reform and an improvement in the local service sector's productivity, the ministry added. (Yonhap)