SEOUL– South Korea and the Asian Development Bank (ADB) agreed to broaden their cooperation in coping with global issues, including health care and climate change, the finance ministry said Wednesday.

Finance Minister Choo Kyung-ho and ADB President Asakawa Masatsugu discussed enhancing bilateral ties in Seoul ahead of the bank’s annual meeting scheduled for next year, according to the Ministry of Economy and Finance.

The ADB president was in South Korea for a three-day trip that started Monday, which included a visit to the venue of the ADB’s annual meeting in Songdo, west of Seoul, in May next year.

The 56th ADB annual meeting will be held under the slogan “Rebounding Asia: Recover, Reconnect, and Reform.”

During the meeting with the ADB president, Choo emphasized the need for a hub in South Korea for financial and technology support to Asian countries to cope with climate change.

Masatsugu echoed the view, proposing the establishment of the so-called Climate Innovation and Technology Knowledge Hub in South Korea, which will serve as a platform for the 68 member countries to cooperate on the matter.

Source: Yonhap News Agency