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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.