By Kim Eun-young and Kim Young Shin
“The peace and stability of the Korean Peninsula will help the Asian Infrastructure Investment Bank (AIIB) meet its purpose, which is to develop infrastructure and to seek economic growth in Asian countries,” said First Vice Minister of Strategy and Finance Ko Hyoung-kwon during the third annual meeting of the AIIB in Mumbai, India, on June 25.
The vice minister stressed that, “Support and cooperation from Asian countries is necessary for the implementation of the items agreed upon at the Inter-Korean summit and at the Singapore summit, such as the complete denuclearization of the Korean Peninsula and establishing peace.”
Ko also said that Asian countries must actively adopt public-private partnerships (PPPs) to help solve the problem of a lack of funds while developing infrastructure across Asia. He highlighted certain PPPs in Korea and emphasized the importance of balancing the benefits of all the concerned parties, such as the government, private entities and civilians.