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South Korea Seeks to Join Asian Infrastructure Bank

Corrected

South Korea formally applied to China to join its Asian Infrastructure Investment Bank.

South Korea “needs to play the active role it deserves in the international community that’s comparable to its economic status, and AIIB would be an important gateway to expand our financial and diplomatic arena,” the Sejong, South Korea-based ministry said Thursday. The country will officially become a founding member of the AIIB once other members agree, and when the national assembly approves, according to the e-mailed statement.