Seoul to Join China-led AIIB

Write : 2015-03-26 20:43:37 Update : 2015-03-27 11:36:32

Seoul to Join China-led AIIB

The South Korean government has announced its decision to join the China-led Asian Infrastructure Investment Bank (AIIB).
Seoul's Finance Ministry said Thursday evening that the decision was made after holding discussions among relevant ministries. 
Seoul has also informed the Chinese government of its intention to join the organization. 
The ministry said South Korea will become a preliminary member of the AIIB when other such members agree to Seoul's participation. When the preliminary member states draft the founding treaty in June, the South Korean government will officially sign the accord pending ratification by the National Assembly.
The government added that it expects Korean companies to be able to take part in various AIIB-funded infrastructure projects in Asia once the bank begins operations. 

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