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South Korea Decides to Join AIIB
Matter of Time
South Korea Decides to Join AIIB
  • By Cho Jin-young
  • March 19, 2015, 06:15
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The IMF decided to include Chinese yuan in its SDR basket on December 1.
The IMF decided to include Chinese yuan in its SDR basket on December 1.

 

The Korean government has opted to join the China-led Asian Infrastructure Investment Bank (AIIB). The signing of the MOU with China is scheduled for this month, and the official announcement of the accession may be made within this week. 

Recently, major European countries such as Britain, Germany, Italy, and France have declared their participation in the AIIB. Australia is also reexamining the issue despite the objections of the United States. Furthermore, an increasing number of people in the U.S. are demanding even the U.S. itself join the bank. 

The United States is in no position to be against the trend any longer. The Korean government has tried to persuade it that Korea’s participation in the AIIB is of urgent necessity. 

State Department spokeswoman Jen Psaki said on March 17 (local time) that AIIB accession is a matter to be determined by each sovereign country.