Australian Treasurer Wayne Swan on Friday said reform of the global financial system, and an overhaul of the International Monetary Fund (IMF) will be key issues at the G20 Finance Ministers' meeting in South Korea.

Swan is currently in from Gyeongju of South Korea to attend the G20 Finance Ministers' meeting later on Friday.

In a statement, Swan said the global recovery remained fragile and uneven, and reform was needed to shore up all economies.

"The global economic recovery is patchy and uneven, and the risks remain to the downside, and of course the Australian economy will not be immune from these developments," Swan said in a statement.

He said he would stress the importance of the G20 delivering on its commitment to reform the IMF, including making it more representative of Asian region nations.

Meanwhile, Swan will also continue to work with his G20 colleagues to reform the global financial system to ensure there will never have another repeat of the global financial crisis.

Swan will meet with his Korean counterpart, Jeung-Hyun Yoon, and host the Australia-Korea Business Dialogue in Seoul on Sunday.