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South Korea will sign a memorandum of understanding (MOU) with the World Bank
this week on the establishment of the global lending agency's office in Seoul,
the finance ministry said Sunday.
The MOU will be signed between World Bank Group President Jim Yong Kim and Finance Minister Bahk Jae-wan during their breakfast meeting to be held in Seoul on Monday, the ministry said.
Both sides will also ink a deal on the establishment of a bilateral cooperation fund and discuss ways to strengthen collaboration, it added.
After attending the annual conference of the International Monetary Fund and the World Bank in Tokyo, Kim, a Korean-born American and renowned health expert and educator, is scheduled to arrive in Seoul later on Sunday.
During his stay here, the World Bank chief will deliver a keynote speech to an international forum on economic development and pay a visit to President Lee Myung-bak Monday before leaving Seoul on Tuesday.