South Korea and the China-led Asian Infrastructure Investment Bank (AIIB) discussed ways to work together on finance and infrastructure projects. The Finance Minister and the AIIB President met in Seoul to talk about supporting South Korean companies and financial institutions, as well as expanding employment opportunities for South Korean staff at the AIIB. They also discussed enhancing bilateral ties and personnel exchanges based on South Korea’s economic development and technology capabilities. South Korea is the fifth-largest stakeholder of the AIIB, which has funded various infrastructure projects for sustainable economic development. The AIIB has 109 members, representing more than 80 percent of the global population and 65 percent of the global gross domestic product. It is seen as a counterbalance to US-led multilateral lenders amid the rising competition between the US and China. The meeting aimed to strengthen cooperation between South Korea and the AIIB for mutual benefit.
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