World Bank Opens Office in Korea

The World Bank opened its first Korean office on Thursday in the Songdo international business district in the port city of Incheon.

During the opening ceremony, the bank's president Jim Yong Kim emphasized that collaboration between the Korean government and the new office is needed to combat extreme poverty and boost shared prosperity in many developing countries. He cited the fact that Korea serves as an exceptional example of an aid recipient turned donor.

Deputy Prime Minister for Economic Affairs Hyun Oh-seok expressed hope that the new office would help spread Korea's expertise in economic development policy to developing nations.

Arirang News / Dec. 05, 2013 12:05 KST