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World Bank to Open Office in South Korea, Finance Ministry Says

Oct. 14 (Bloomberg) -- The World Bank plans to open an office in South Korea, according to an e-mailed statement from the Asian nation’s finance ministry.

Jim Yong Kim, president of the World Bank, and South Korea’s Finance Minister Bahk Jae Wan will tomorrow sign a memorandum of understanding to establish the office, according to the statement.

The agreement also includes creating a new cooperation fund between the two partners, the finance ministry said in the statement. It didn’t specify when the office will open.

To contact the editor responsible for this story: Jim McDonald at jmcdonald8@bloomberg.net

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