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Korea to broaden economic cooperation with development bank in Central American

South Korea will seek wider cooperation with a development bank in Central America to help its companies tap into the sectors of infrastructure building and energy developing in the region, the trade ministry here said Wednesday.

Trade Minister Joo Hyung-hwan held a meeting with President Nick Rischbieth of the Central American Bank for Economic Integration in Seoul to discuss ways to widen cooperation between South Korea and Central American countries, according to the Ministry of Trade, Infrastructure and Energy.

"South Korea and CABEI will join hands to develop energy business models and expand corporate exchange between the two regions," Joo said.

Founded in 1960, CABEI, with 13 members, including Guatemala, Honduras and Costa Rica, is aimed at extending loans to private- and government-led development projects in the central American region.

The two also agreed that South Korea can be CABEI's leading partner in carrying out such development projects, given its companies' experiences in building industrial plants.

In line with it, the ministry said CABEI will participate in a global project fair to be held in Seoul in November to promote its development projects and share know-how with South Korean companies. (Yonhap)