Gov ' t inks MOU with AIIB on Jeju session SEOUL , Feb . 27 ( Yonhap ) -- The South Korean government said Monday it has signed a memorandum of understanding ( MOU ) with the Chinese - led Asian Infrastructure Investment Bank ( AIIB ) on preparations for the bank ' s meeting to be held in Jeju Island in June . The MOU addresses the sharing of role and cost for the second annual meeting of the AIIB expected to draw more than 2 , 000 finance ministers , governors of central banks , heads of international organizations and business leaders from nearly 60 member states , according to the Ministry of Strategy and Finance . " The upcoming session is the first of its kind to be held outside China after the inaugural meeting in Beijing last year , " Vice Finance Minister Choi Sang - mok said after the signing ceremony here attended by Danny Alexander , vice president of the AIIB . It would serve as a chance for the AIIB to solidify its stature as a global organization specializing in infrastructure development , he added . Vice Finance Minister Choi Sang - mok ( R ) and Danny Alexander , vice president of the Asian Infrastructure Investment Bank ( AIIB ) , pose for a photo on Feb . 27 , 2017 , after signing a memorandum of understanding on preparing for the AIIB ' s Jeju meeting to be held in June , in a photo provided by Choi ' s ministry . ( Yonhap ) Alexander had a separate meeting with the representatives from 15 local firms involved in infrastructure - related businesses , including Daewoo Engineering & Construction , Samsung C & T and Hyundai Engineering & Construction , and requested their participation in the Jeju meeting . The ministry , meanwhile , plans to open the official website , www . aiib 2017 . org , for the Jeju event on Thursday and unveil the logo and slogan . The logo features the image of a hanok , a traditional Korean house , and the slogan highlights the message of " building Asia and connecting the future . " lcd @ yna . co . kr ( END )