SEOUL, March 13 (Xinhua) -- South Korea will host a meeting later this week to set the agenda for the upcoming Asia-Europe meeting (ASEM) set for June, said the Ministry of Strategy and Finance on Thursday.

    The ministry said the preparation meeting will be held Friday on Jeju island with representatives from member countries, executive members of the European Union and the International Monetary Fund in attendance.

    The ASEM, launched in 1996, serves as one of the largest consultative meetings for policy cooperation on finance, economy and diplomacy among Asian and European countries. It currently has43 members and this year's ASEM finance ministerial gathering will be held on June 16 in South Korea's southern resort island of Jeju.