Mayor Yoo Jeong-bok Meets Deputy Prime Minister to Cooperate for Successful ADB Annual Meeting

Incheon Mayor Yoo Jeong-bok and Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho are taking a commemorative photo after signing a memorandum of understanding at the Government Seoul Office on the 12th to prepare for the 56th Annual Meeting of the Asian Development Bank (ADB).
[Photo by Incheon City]

[Asia Economy Reporter Park Hyesook] On the 12th, Incheon City announced that Mayor Yoo Jeong-bok of Incheon and Deputy Prime Minister for Economy Choo Kyung-ho met at the Government Seoul Office and signed a memorandum of understanding (MOU) to ensure the successful hosting of the '56th Annual Meeting of the Asian Development Bank (ADB) in 2023.'

The agreement was prepared to divide the roles of the two organizations and establish a mutual cooperation system for the 56th ADB Annual Meeting, which will be held from May 2 to 5 in Songdo, Incheon.

The ADB Annual Meeting is a high-level international conference attended by about 5,000 participants, including finance ministers and central bank governors from 68 member countries, international organizations, financial sectors, and non-governmental organizations (NGOs).

As the largest event of the ADB, it has been held annually since its founding in 1966. South Korea previously hosted it in Seoul in 1970 and Jeju in 2004, and this year marks the third time it will be held in Incheon.

Notably, this meeting is the first face-to-face event in three years since COVID-19, with over 70 events scheduled under the theme "Asia Rebounding: Recovery, Solidarity, Reform."

As the host city, Incheon City is making thorough preparations for the event, including a welcome luncheon presided over by the mayor, tourism and industrial inspection programs, an investment briefing session for Incheon, operation of the Incheon promotional pavilion, and providing conveniences such as medical services, currency exchange, and international mail.

Mayor Yoo said, "We will make every preparation to promote the ADB meeting and ensure that participants can attend the event conveniently and safely," adding, "The experience gained from successfully hosting this meeting will be a valuable asset and good experience for attracting the 2025 APEC to Incheon."