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South Korea and the Green Climate Fund (GCF), a United Nations organization, have signed a headquarter agreement regulating the privileges and immunities of GCF and its staff, the finance ministry said Sunday.
The agreement was signed in Berlin, Germany, during the third round of the GCF board meeting held from March 12-15, the ministry said.
The agreement laid the legal foundations for the establishment of the GCF headquarters to the Songdo International Business District in Incheon, 40 kilometers west of Seoul, the ministry said.
The ministry said it plans to help the GCF set up its headquarters in the port city no later than the second half of the year by speeding up procedures to ratify the agreement.
In late October last year, South Korea was selected as the host country for the United Nations climate fund's headquarters. (Yonhap News)
