Korea, World Bank agree to widen cooperation

South Korea's finance minister held a meeting with the president of the World Bank Group to discuss ways to expand the country's participation in the organization, the ministry here said Friday.

Finance Minister Yoo Il-ho met with WBG President Jim Yong Kim in Washington on Thursday (local time) on the sidelines of the Group of 20 Finance Ministers and Central Bank Governors meeting.

South Korea's Finance Minister Yoo Il-ho (left) shakes hands with World Bank Group President Jim Yong Kim in Washington on April 20, 2017 (US time). (Ministry of Strategy and Finance)

The gathering runs from Thursday through Friday.

They agreed that the organization's Seoul office will play a leading role in carrying out development projects for the Asia and Pacific region.

Opened in 2014, the World Bank office, headquartered in Songdo, west of Seoul, has participated in some infrastructure projects in developing countries including Pakistan and China.

Later, the South Korean official met with his Indonesian counterpart Sri Mulyani Indrawati and exchanged views on bilateral economic cooperation. (Yonhap)