{"id":2202880,"date":"2023-11-28T08:00:41","date_gmt":"2023-11-27T23:00:41","guid":{"rendered":"https:\/\/koreapro.org\/?p=2202880"},"modified":"2023-11-27T17:53:59","modified_gmt":"2023-11-27T08:53:59","slug":"seouls-meeting-with-china-led-bank-signals-closer-ties-with-beijing","status":"publish","type":"post","link":"https:\/\/koreapro.org\/2023\/11\/seouls-meeting-with-china-led-bank-signals-closer-ties-with-beijing\/","title":{"rendered":"Seoul\u2019s meeting with China-led bank signals closer ties with Beijing"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">South Korea\u2019s finance minister Choo Kyung-ho met with Asian Infrastructure Investment Bank (AIIB) President Jin Liqun to discuss ways of enhancing bilateral cooperation in finance and joint infrastructure projects, the Ministry of Economy and Finance <\/span><a href=\"https:\/\/www.moef.go.kr\/nw\/nes\/detailNesDtaView.do?searchBbsId1=MOSFBBS_000000000028&amp;searchNttId1=MOSF_000000000066569&amp;menuNo=4010100\"><span style=\"font-weight: 400;\">announced<\/span><\/a><span style=\"font-weight: 400;\">. Choo highlighted the need for AIIB\u2019s support for South Korean companies in investment projects and called for stronger ties between South Korean financial institutions and the AIIB. He also urged the bank to hire more South Korean staff.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Jin expressed hope for improved bilateral relations in the financial and infrastructure sectors, recognizing South Korea\u2019s economic and technological prowess. South Korea has been a member state since the AIIB\u2019s establishment in 2016, and it is its fifth-largest stakeholder. The bank, seen as a rival to U.S.-led lenders like the Asian Development Bank, now comprises 109 members.<\/span><\/p>\n<p><b>Why It Matters<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The meeting between Choo Kyung-ho and Jin Liqun is the latest sign indicating Seoul\u2019s efforts to mend its ties with Beijing. This move comes amid strained relations following President Yoon Suk-yeol\u2019s comments on <\/span><a href=\"https:\/\/koreapro.org\/2023\/04\/chinese-foreign-ministry-rejects-yoons-remarks-about-taiwan\/\"><span style=\"font-weight: 400;\">Taiwan<\/span><\/a><span style=\"font-weight: 400;\"> and <\/span><a href=\"https:\/\/koreapro.org\/2023\/08\/how-the-camp-david-summit-underscores-south-koreas-stance-on-south-china-sea\/\"><span style=\"font-weight: 400;\">the South China Sea<\/span><\/a><span style=\"font-weight: 400;\">, which had caused <\/span><a href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/china-warns-south-korea-not-politicise-economic-issues-2023-11-26\/\"><span style=\"font-weight: 400;\">diplomatic ripples<\/span><\/a><span style=\"font-weight: 400;\"> between South Korea and China. By engaging with the AIIB, a China-led initiative, Choo\u2019s meeting is seen as the Yoon administration\u2019s attempt to improve bilateral relations.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The meeting also highlights South Korea\u2019s intent to diversify its economic partnerships beyond traditional allies, notably the U.S. This is particularly significant in the wake of the U.S.\u2019s <\/span><a href=\"https:\/\/koreapro.org\/2023\/11\/south-korea-faces-dilemma-after-us-fails-to-deliver-own-watered-down-trade-pact\/\"><span style=\"font-weight: 400;\">failure to conclude<\/span><\/a><span style=\"font-weight: 400;\"> critical elements of its Indo-Pacific Economic Framework (IPEF) trade pillar due to opposition from Congressional Democrats. By actively engaging with the AIIB, South Korea is positioning itself to broaden its economic landscape, exploring opportunities that do not solely depend on its alliance with the U.S.<\/span><\/p>\n<div class=\"content-tags\"><a href=\"https:\/\/koreapro.org\/tag\/business-economy\/\"><span class=\"tag\">Business &amp; Economy<\/span><\/a><a href=\"https:\/\/koreapro.org\/tag\/inter-korean-foreign-relations\/\"><span class=\"tag\">Inter-Korean &amp; Foreign Relations<\/span><\/a><\/div>","protected":false},"excerpt":{"rendered":"<p>South Korea\u2019s finance minister Choo Kyung-ho met with Asian Infrastructure Investment Bank (AIIB) President Jin Liqun to discuss ways of enhancing bilateral cooperation in finance and joint infrastructure projects, the Ministry of Economy and Finance announced. Choo highlighted the need for AIIB\u2019s support for South Korean companies in investment projects and called for stronger ties [&hellip;]<\/p>\n","protected":false},"author":10407,"featured_media":2202881,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[24,28],"class_list":["post-2202880","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-briefings","tag-business-economy","tag-inter-korean-foreign-relations"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Seoul\u2019s meeting with China-led bank signals closer ties with Beijing - KOREA PRO<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/koreapro.org\/2023\/11\/seouls-meeting-with-china-led-bank-signals-closer-ties-with-beijing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Seoul\u2019s meeting with China-led bank signals closer ties with Beijing - KOREA PRO\" \/>\n<meta property=\"og:description\" content=\"South Korea\u2019s finance minister Choo Kyung-ho met with Asian Infrastructure Investment Bank (AIIB) President Jin Liqun to discuss ways of enhancing bilateral cooperation in finance and joint infrastructure projects, the Ministry of Economy and Finance announced. Choo highlighted the need for AIIB\u2019s support for South Korean companies in investment projects and called for stronger ties [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/koreapro.org\/2023\/11\/seouls-meeting-with-china-led-bank-signals-closer-ties-with-beijing\/\" \/>\n<meta property=\"og:site_name\" content=\"KOREA PRO\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/nknewsorg\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-27T23:00:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-27T08:53:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/koreapro.org\/wp-content\/uploads\/sites\/6\/2023\/11\/eb-13.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1870\" \/>\n\t<meta property=\"og:image:height\" content=\"1000\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"johnleenknews\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@southkoreapro\" \/>\n<meta name=\"twitter:site\" content=\"@southkoreapro\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"KOREA PRO\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/koreapro.org\/2023\/11\/seouls-meeting-with-china-led-bank-signals-closer-ties-with-beijing\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/koreapro.org\/2023\/11\/seouls-meeting-with-china-led-bank-signals-closer-ties-with-beijing\/\"},\"author\":{\"name\":\"johnleenknews\",\"@id\":\"https:\/\/koreapro.org\/#\/schema\/person\/b9766dba611638edc06a6e0b7078714d\"},\"headline\":\"Seoul\u2019s meeting with China-led bank signals closer ties with Beijing\",\"datePublished\":\"2023-11-27T23:00:41+00:00\",\"dateModified\":\"2023-11-27T08:53:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/koreapro.org\/2023\/11\/seouls-meeting-with-china-led-bank-signals-closer-ties-with-beijing\/\"},\"wordCount\":304,\"publisher\":{\"@id\":\"https:\/\/koreapro.org\/#organization\"},\"image\":{\"@id\":\"https:\/\/koreapro.org\/2023\/11\/seouls-meeting-with-china-led-bank-signals-closer-ties-with-beijing\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/assets.korearisk.com\/uploads\/sites\/6\/2023\/11\/eb-13.png\",\"keywords\":[\"Business &amp; Economy\",\"Inter-Korean &amp; Foreign Relations\"],\"articleSection\":[\"Briefings\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/koreapro.org\/2023\/11\/seouls-meeting-with-china-led-bank-signals-closer-ties-with-beijing\/\",\"url\":\"https:\/\/koreapro.org\/2023\/11\/seouls-meeting-with-china-led-bank-signals-closer-ties-with-beijing\/\",\"name\":\"Seoul\u2019s meeting with China-led bank signals closer ties with Beijing - KOREA PRO\",\"isPartOf\":{\"@id\":\"https:\/\/koreapro.org\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/koreapro.org\/2023\/11\/seouls-meeting-with-china-led-bank-signals-closer-ties-with-beijing\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/koreapro.org\/2023\/11\/seouls-meeting-with-china-led-bank-signals-closer-ties-with-beijing\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/assets.korearisk.com\/uploads\/sites\/6\/2023\/11\/eb-13.png\",\"datePublished\":\"2023-11-27T23:00:41+00:00\",\"dateModified\":\"2023-11-27T08:53:59+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/koreapro.org\/2023\/11\/seouls-meeting-with-china-led-bank-signals-closer-ties-with-beijing\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/koreapro.org\/2023\/11\/seouls-meeting-with-china-led-bank-signals-closer-ties-with-beijing\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/koreapro.org\/2023\/11\/seouls-meeting-with-china-led-bank-signals-closer-ties-with-beijing\/#primaryimage\",\"url\":\"https:\/\/assets.korearisk.com\/uploads\/sites\/6\/2023\/11\/eb-13.png\",\"contentUrl\":\"https:\/\/assets.korearisk.com\/uploads\/sites\/6\/2023\/11\/eb-13.png\",\"width\":1870,\"height\":1000},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/koreapro.org\/2023\/11\/seouls-meeting-with-china-led-bank-signals-closer-ties-with-beijing\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/koreapro.org\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Seoul\u2019s meeting with China-led bank signals closer ties with Beijing\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/koreapro.org\/#website\",\"url\":\"https:\/\/koreapro.org\/\",\"name\":\"KOREA PRO\",\"description\":\"Be smart about South Korea. 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