South Korea will host a deputy minister-level conference for Group of 20 nations next month to discuss spillover effects from monetary stimulus in major economies, the finance ministry said Monday.

The Ministry of Strategy and Finance will hold the G20 conference for two days from Dec. 18 in central Seoul jointly with the finance ministry of Australia, a chair of next year's G20 meetings.

It would be an official conference linked to the G20 meeting of deputy finance ministers and vice central bank governors scheduled for two days from Dec. 15, according to the ministry.

Deputy finance ministers from Russia, Australia, Turkey, India, Canada and Indonesia will participate in the meeting along with representatives from international organizations, including the International Monetary Fund, Bank for International Settlement and Asia Development Bank, as well as private experts.

The meeting will focus on spillovers from accommodative monetary policies in major economies and cooperation in policy efforts to address the spillovers, the ministry said.

The US Federal Reserve was widely expected to start tapering its monthly bond purchases as early as March next year, which was feared to rock the global financial market.