AIIB president-designate meets Korean officials, biz leaders

President-designate Jin Liqun of the Asian Infrastructure Investment Bank met with Korean officials including Finance Minister Choi Kyung-hwan and business leaders in Seoul on Tuesday.

The AIIB leader’s visit comes as the multilateral development bank led by China is ready to start funding infrastructure projects.

It was not immediately known the results of the meeting between Jin and Choi, but sources said the two leaders might have discussed ways for cooperation between Seoul and the banking institution.

The AIIB president also met with Korea Eximbank president Lee Duk-hoon at a Seoul hotel on issues of mutual concerns, according to officials.

The two sides agreed to boost joint financial support, particularly in the syndicate loan plans and the exchange of personnel and information, they added.

The Chinese official also held separate talks with Korea Chamber of Commerce and Industry president Park Yong-maan to discuss AIIB’s infrastructure development plans in Asia. He also met with SK Group chairman Chey Tae-won.

Jin is scheduled to finish his two-day visit to Korea-- the first stop of his business tour to consolidate AIIB’s launch by the end of this year -- on Wednesday.

Earlier this year, South Korea and some 60 countries signed the Articles of Agreement, laying the foundation of the AIIB.

Korea has secured the fifth-largest stake in the infrastructure investment bank after China, India, Russia and Germany. Earlier this year, Korean government vowed to contribute a total of $750 million as paid-in capital over the next five years.

By Chung Joo-won (joowonc@heraldcorp.com)