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S. Korea's KDB, AMC of World Bank set up partnership for joint investment

All Headlines 11:03 March 04, 2016

SEOUL, March 4 (Yonhap) -- South Korea's policy lender Korea Development Bank (KDB) has established a partnership with an asset management affiliate of the World Bank Group to jointly develop new investment opportunities in Asia, the bank said Friday.

A memorandum of understanding for a business partnership between the KDB and the International Financial Corporation Asset Management Company (IFC-AMC) was signed in Washington on Wednesday, according to the bank.

"Under the agreement, the two organizations agreed to set up a comprehensive partnership that calls for the joint development of new investment opportunities in the newly emerging markets of Asia, as well as personnel exchanges between the two," the KDB said in a press release.

The bank noted the partnership will also enable its access to all of the IFC-AMC's vast and distinguished market information that may help its own venture into other Asian markets in the future.

The IFC-AMC is the Washington-based asset management arm of the IFC, a member of the World Bank Group.

bdk@yna.co.kr
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