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| ▲ First Vice Finance Minister Bang Ki-sun (R) shakes hands with Ludger Schuknecht, a vice president of the Asian Infrastructure Investment Bank, in Seoul on May 25, 2023, in this photo released by the Ministry of Economy and Finance. (PHOTO NOT FOR SALE) (Yonhap) |
S Korea-AIIB cooperation
S. Korea eyes closer partnership, new investment opportunities with AIIB
By Kang Yoon-seung
SEOUL, May 25 (Yonhap) -- South Korea wishes to expand ties with the Asian Infrastructure Investment Bank (AIIB) and find new joint project opportunities, the first vice finance minister said Thursday.
First Vice Finance Minister Bang Ki-sun made the remark during his meeting with Ludger Schuknecht, a vice president and corporate secretary of the Asian Infrastructure Investment Bank (AIIB), in Seoul, according to the Ministry of Economy and Finance.
During the meeting, Bang asked Schuknecht to continue giving support to local financial organizations seeking investment opportunities with the AIIB and requested the Beijing-based bank to expand its employment of South Korean staff as well.
Schuknecht echoed the view, expressing gratitude for South Korea's contributions to the development of the AIIB by utilizing its unique development history and advanced technologies.
The AIIB wishes to solidify cooperation with South Korean businesses and financial institutions, he added.
South Korea is the fifth-largest stakeholder of the AIIB, with its shares at 3.86 percent. China is the biggest holder at 30.72 percent, followed by India, Russia, and Germany with 8.63 percent, 6.74 percent, and 4.63 percent, respectively.
The number of South Korean staff at the AIIB currently stands at 24, accounting for 4.6 percent of the total employees.
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