JEJU-DO < invest Korea

According to Yonhap News,

(JEJU ISLAND=Yonhap News) The South Korean government said Monday it has signed a memorandum of understanding (MOU) with the Chinese-led Asian Infrastructure Investment Bank (AIIB) on preparations for the bank's meeting to be held in Jeju Island in June.

The MOU addresses the sharing of role and cost for the second annual meeting of the AIIB expected to draw more than 2,000 finance ministers, governors of central banks, heads of international organizations and business leaders from nearly 60 member states, according to the Ministry of Strategy and Finance.

"The upcoming session is the first of its kind to be held outside China after the inaugural meeting in Beijing last year," Vice Finance Minister Choi Sang-mok said after the signing ceremony here attended by Danny Alexander, vice president of the AIIB.

It would serve as a chance for the AIIB to solidify its stature as a global organization specializing in infrastructure development, he added.

Vice Finance Minister Choi Sang-mok (R) and Danny Alexander, vice president of the Asian Infrastructure Investment Bank (AIIB), pose for a photo on Feb. 27, 2017, after signing a memorandum of understanding on preparing for the AIIB's Jeju meeting to be held in June, in a photo provided by Choi's ministry. (Yonhap) Vice Finance Minister Choi Sang-mok (R) and Danny Alexander, vice president of the Asian Infrastructure Investment Bank (AIIB), pose for a photo on Feb. 27, 2017, after signing a memorandum of understanding on preparing for the AIIB's Jeju meeting to be held in June, in a photo provided by Choi's ministry. (Yonhap)

Alexander had a separate meeting with the representatives from 15 local firms involved in infrastructure-related businesses, including Daewoo Engineering & Construction, Samsung C&T and Hyundai Engineering & Construction, and requested their participation in the Jeju meeting.

The ministry, meanwhile, plans to open the official website, www.aiib2017.org, for the Jeju event on Thursday and unveil the logo and slogan.

The logo features the image of a hanok, a traditional Korean house, and the slogan highlights the message of "building Asia and connecting the future."

lcd@yna.co.kr

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