Korean Finance Minister and Deputy Prime Minister Koo Yun-cheol met with the new President of the Asian Infrastructure Investment Bank (AIIB), Zhao Xiaochuan, to discuss expanding the participation of Korean companies in AIIB projects and increasing the hiring of Korean personnel.
According to the Ministry of Economy and Finance, Koo met with President Zhao during his visit to South Korea, marking Zhao's first visit to a developed donor country in Asia since taking office in January.
The AIIB is an international financial institution established in 2016 to support infrastructure investment and economic development in the Asia region. The number of member countries has grown from 57 at its inception to 111 today, and the bank has approved a total of $72.4 billion for 373 development projects to date.
Koo praised the AIIB for its steady growth over the past decade, establishing itself as a global multilateral development bank, and emphasized the importance of the new president's role in facilitating a new leap forward.
He specifically noted that combining the technological capabilities of Korean companies with the financial strength of the AIIB could create synergies in development projects and urged for visible results in cooperation with Korean firms.
Koo also requested an increase in the hiring of Korean personnel within the AIIB, stressing the need for expansion across various ranks and fields, from senior positions to operational staff.
President Zhao acknowledged the value of South Korea's development experience and technological capabilities, expressing his commitment to strengthening cooperation with Korea in various areas, including technology-based infrastructure projects and human exchanges.
* This article has been translated by AI.
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