Title: Seoul Meeting of the Asian Development Bank (ADB)
Has No Title
Stamp Serial#
682 
KPC#
C-422 
MICHEL#
709 
StanGib#
852 
Scott#
703 
Date of Issue
04/09/1970 
Quantity
1,000,000 
Denomination
10 won 
Design
Bank emblem and cash 
Designer
Chun Hee-han 
Image Area
33mm*23mm 
Perforation
13 
Sheet Composition
5Ąż10 
Paper
Granite paper; unwatermarked
Printer
Government Printing & Mint Agency of the Repubic of Korea 
Description
The 3rd annual meeting of the Asian Development Bank will be held in Seoul for three days beginning on April 9.

The Asian Development Bank was founded on December 19, 1966 with a purpose to stimulate the economic progress in developing nations in the region and to help finance the development projects aimed at balanced development of the region. Today, the ADB has grown to a banking institution with a total of 33 member nations including 20 regional and 13 sub-regional countries.

Korea affiliated with the bank at the time its inauguration and has been a director nation representing the group of Korea, free China, and Vietnam. Korea has contributed $9 million to the capital fund of the bank as of April 15, 1969 and is entitled to draw up to $13.8 million in loan or 20.8% of the total loan available from the bank.

The meeting will be a large scale important international conference which will be attended by 800 delegates including finance ministers of the member nations, presidents of central banks, observers from various international organizations, leading banking business figures and foreign diplomats in Korea.

The Ministry of Communications issues a commemorative stamp in commemoration of the meeting hoping that the international conference end in a great success and make greater contributions to the economic development in Korea and other Asian countries.