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S. Korea Signs MOU for IDB Membership

Written: 2004-05-17 00:00:00Updated: 0000-00-00 00:00:00

South Korea will join the Inter-American Development Bank (IDB) next year.

The Ministry of Finance and Economy said that Finance Minister Lee Hun-jae signed a memorandum of understanding (MOU) on South Korea's IDB membership with IDB chief Enrique V. Iglesias in Seoul on Monday.

The government hopes that joining the IDB will bring about substantial economic benefits such as increased opportunities to participate in development projects in South America and the Caribbean.

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