SEOUL, Nov. 15 (Korea Bizwire) – South Korea’s membership in the China-led Asian Infrastructure Investment Bank (AIIB) is paying dividends, with a number of companies winning deals with Bangladesh in recent days. According to the Ministry of Strategy and Finance, LS Cable & System and Hyosung Corp both obtained contracts for work on Bangladesh’s electrical [...]
SEOUL/SEJONG, Nov. 13 (Korea Bizwire) – South Korea is engaged in a “partnership strengthening” endeavor with the Asian Infrastructure Investment Bank (AIIB) that can assist the mega institution in successfully engaging in future development projects, a senior official said Friday. Vice Finance Minister Joo Hyung-hwan said in a conference hosted by the Korea Chamber of [...]
LONDON, Jun. 5 (Korea Bizwire) — South Korea and Britain will work together to become viable offshore yuan trading hubs and enhance transparency in the China-led infrastructure development bank, the finance ministers from the two countries said Thursday. In a meeting in London, Choi Kyung-hwan and his British counterpart, George Osborne, stressed that the two countries [...]
“In terms of the AIIB, will it affect the relationship with the Republic of Korea? The answer is no. The U.S. welcomes a better relationship between Beijing and Seoul. We want good relations between Seoul and Beijing, Washington and Beijing, and especially Washington and Seoul. Our relationship is one that is unbelievably strong right now, [...]
BEIJING, Apr. 29 (Korea Bizwire) — South Korea is likely to hold up to 3.5 percent in equities in the Chinese-led Asian Infrastructure Investment Bank (AIIB), a diplomatic source said Wednesday. South Korea’s expected stake in the AIIB was lowered to between 3 percent and 3.5 percent as Russia, which is part of the World [...]
SEJONG, March 26 (Korea Bizwire) – South Korea will join the China-led regional development bank as one of its founding members, the finance ministry announced Thursday, helping bolster the Asian neighbor’s growing clout in the region that is alerting the U.S. The ministry said the decision to become a member of the Asian Infrastructure Investment [...]
“The Asian Infrastructure Investment Bank and the Silk Road Fund initiated by China are also very important, and they will follow internationally accepted rules in their operations” “These initiatives will provide capital and strong support to developments of major projects, such as infrastructure and connectivity in Asia.” “As you know, many countries have expressed their [...]