World Bank to highlight Korea’s economy, technology

The World Bank will host a special event that highlights South Korea’s economy and innovative technology this week with the Korean government dispatching a special delegation, the Ministry of Economy and Finance said Monday.

The government delegation of around 140 officials led by Vice Finance Minister Kim Yong-beom will attend Korea-WBG Partnership Week for Innovation and Technology, which kicks off Tuesday and runs for three days at the World Bank headquarters in Washington. Officials from the Ministry of Science and ICT, the Ministry of Land, Infrastructure and Transport and the Ministry of Employment and Labor will be part of the delegation, the ministry said.

World Bank officials including Managing Director and Chief Administrative Officer Shaolin Yang and Regional Vice President for East Asia and the Pacific Victoria Kwakwa will attend the event as well.

The government plans to showcase Korea’s innovation and technology and the fruits of cooperation between the nation and the World Bank so far. It aims to share its experience with growth in the fields of innovation and technology.

Throughout the event, it will establish eight exhibition booths centered on the theme of Korea’s innovation and technology such as smart cities, virtual reality, the digital economy, 5G and green innovation.

The government will also seek further avenues of cooperation with the World Bank. The Science Ministry will share its experience as a representative of the first country in the world to commercialize a 5G network.

The Labor Ministry plans to hold talks with the organization’s officials on bolstering support for developing economies through cooperation with Korea. The topic of support for smart city projects in developing nations will be raised by the Land Ministry.

Meanwhile, Kim plans to host a roundtable in New York on Wednesday to brief local investors on Korea’s economic outlook and policies. He will then visit credit ratings agency Standard & Poors, also in New York, to meet with Roberto Sifon Arevalo, global head of sovereign analytics and research.

By Jung Min-kyung (mkjung@heraldcorp.com)