Policy Updates

On April 11, 2024, statistics released by the OECD DAC showed that that South Korea provided US$3.1 billion in 2023 ODA, an 11.4% increase compared to 2022.

South Korea's ODA disbursement in 2023 indicated an increase both in bilateral assistance (US$2.3 billion) and multilateral assistance (US$830 million). In particular, contributions to international financial organizations, including the World Bank and IMF, increased. Bilateral assistance increased by 3.4% due to increases in grant assistance (US$1.6 billion) and loans (US$700 million). Multilateral assistance increased by 41.9% due to an increase in contributions to support the pandemic in low-income and vulnerable countries. With the increased multilateral contribution, the South Korean government responded quickly and effectively to the global shortage of development finances and expressed its willingness to contribute to resolving global issues as a global pivotal state.

ODA/GNI was 0.18%, an increase of 0.01% from 2022. As South Korea has expanded the 2024 ODA budget by the largest amount ever (31.1%) to fulfill its role as a global pivotal state amid a tight fiscal environment, 2024’s ODA disbursement is expected to increase significantly.

On April 12, 2024, it was announced that South Korea was elected to the Executive Boards of UNICEF and the WFP for the 2025-2027 term.

The WFP Executive Board provides policy guidance and oversees all activities as the highest decision-making body. South Korea’s third consecutive election to the WFP Executive Board since 2019 reflects its role and contribution to reducing poverty and ending hunger around the world.

South Korea's election to the Executive Board of UNICEF for 2025-2027 marked its tenth consecutive nomination since 1988. The South Korean government will continue to proactively participate in discussions within UNICEF to advance the protection, health, and education of children and adolescents around the world. The government is also slated to further develop the partnership between South Korea and UNICEF.

From March 18-19, 2024, Commissioner Jee Youngmee of the KDCA met with WHO WPRO, the Asian Development Bank, and the Ministry of Health in the Philippines.

The KDCA and WPRO agreed to establish an annual high-level policy dialogue between the two to discuss issues related to disease control and climate health more closely and actively. Following this, the agencies agreed to transition the established Donor Meeting, which has been held at the director level, to a high-level meeting.

The KDCA has made contributions of US$1.6 million (KRW2.5 billion) for infectious disease control since 2009, as well as contributions of US$174,000 (KRW225 million) since 2012 to WHO WPRO. Jee announced that South Korea will host a high-level roundtable on climate change and health at the World Health City Forum in this November, inviting experts at WHO WPRO.

The KDCA will continue to lead in the field of health security through the World Health Assembly in May and bilateral meetings with many countries.

On March 14, 2024, South Korean Foreign Affairs Minister Cho Tae-yul delivered a keynote speech at the 6^th Global Engagement and Empowerment Forum under the theme of Reboot the SDGs, Reset the Our Future to discuss how the international community can work together to accelerate the implementation of the SDGs amidst the deepening global crisis.

In his keynote speech, Cho called for strengthening multilateralism centering around the UN to boost the achievement of the SDGs. South Korea will build on the momentum from the Summit of the Future in September 2023 and revitalize international discussions on the implementation of the SDGs in special situation countries, including SIDS and landlocked countries.

He also highlighted the HDP Nexus, the digital transformation of low- and middle-income countries, and empowering future generations. His participation in the forum demonstrated South Korea’s commitment to achieving the SDGs to the international community.

On March 6, 2024, Minister Cho Tae-yul of Foreign Affairs met Executive Director Natalia Kanem of UNFPA during her visit to South Korea to discuss Korea-UNFPA cooperation.

Cho reviewed the development of cooperation between Korea and UNFPA, including the first policy council held on February 15, 2024. He also highlighted growing cooperation with UNFPA in areas such as humanitarian-development-peace nexus and Women, Peace, and Security in light of its non-permanent seat on the Security Council in 2024-25.

Kanem remarked on Korea’s support in preventing and responding to GBV and strengthening SRH in conflict-affected countries, and pledged to support Korea to continue its successful Security Council membership.

Cho and Kanem also agreed that cooperation should lead to tangible results, and alluded to plans to expand the presence of UNFPA in South Korea.

On March 5, 2024, South Korea and Australia renewed their MOU on development cooperation since its first signing in 2019.

The renewed MOU outlined an institutional framework for cooperation on new bilateral development cooperation policies, cooperation in the Indo-Pacific region and sectors (gender equality, climate change, humanitarian assistance, etc.), and strengthening of cooperation mechanisms. In particular, the document set out guidelines for Director General level-biennial meetings of Development Cooperation Policy Council.

The updated agreement is expected to further strengthen cooperation between South Korea and Australia to contribute to the stability of the Indo-Pacific region.

On February 29, 2024, the South Korean government confirmed its 2024 ODA budget at KRW6.3 trillion (US$4.8 billion) at the 48^th CIDC, presided by South Korean Prime Minister Han Duck-soo, who confirmed the budget and decided 2024 ODA Annual Implementation Plan.

The 2024 ODA budget is the largest on record and indicates a 31.1% increase (KRW1.5 trillion, US$1.2 billion) over 2023.

The 2024 budget takes South Korea ahead of schedule to double ODA by 2030, highlighting the South Korean government’s commitment to fulfill its roles and responsibilities as a global pivotal state. South Korean President Yoon Suk Yeol led the agenda to resolve global issues and finalized the ODA budget in difficult financial conditions.

South Korea is slated to implement 1,976 projects through 46 organizations in 2024. 17.5% of the budget is set for humanitarian assistance, 15.1% for transportation, and 9% for health. South Korea also expanded humanitarian assistance including overseas emergency relief, food assistance, and contributions to health crises.

On February 20, 2024, KOICA’s resident officer in India and USAID's India office signed a memorandum of understanding to strengthen development cooperation partnerships in India, a key country in the South Korean government’s Indo-Pacific Strategy.

The cooperation is intended to support the sustainable development of countries in the Indo-Pacific region through trilateral cooperation between India, the US, and South Korea. KOICA and USAIDare slated to cooperate in four sectors in India:

• Women’s economic empowerment;
• Disaster and climate resilience;
• Digital literacy; and
• Trilateral cooperation.

KOICA and USAID expressed the intention to explore new development projects in India and bolster joint projects between South Korea and the US. The two countries plan to develop a concrete cooperation plan for the empowerment of female social entrepreneurs in India to support the economic empowerment of women in India.

On February 15, 2024, South Korea and UNFPA held their first-ever policy meeting to address issues related to the global population and humanitarian assistance.

Regular financial contributions to UNFPA have been made by the Ministry of Health and Welfare since 1997, however, the UNFPA budget was transferred to MOFA since 2024.

Director General for Development Cooperation at the MOFA Do-yeon Won and Deputy Executive Director for Programmes at UNFPA Diene Keita led the meeting.

Won expressed the government’s strong vision to contribute to solving global problems as a global pivotal state with the expansion of the ODA budget. In particular, South Korea plans to strengthen humanitarian assistance and close cooperation with UNFPA.

Won and Keita shared strategies and policies of each to deepen mutual understanding and discuss future priorities for cooperation including the prevention of sexual violence in conflict situations as a part of the HDP Nexus. The meeting reflected the willingness of both sides to strategically and systematically develop cooperation between South Korea and UNFPA.

On February 16, 2024, South Korea and UNOCHA held their 7^th policy meeting to discuss ways to respond to the humanitarian crisis through development cooperation.

The policy meeting has been regularly held since 2015, based on the memorandum of understanding signed between the MOFA and OCHA in 2013

Director General for Development Cooperation at the MOFA Do-yeon Won and Assistant Secretary-General for Humanitarian Affairs and Deputy Emergency Relief Coordinator at UNOCHA Joyce Msuya led the meeting.

Won expressed that South Korea will increase the effectiveness of humanitarian assistance as a global pivotal state. Msuya praised the South Korean government’s efforts to strengthen humanitarian assistance and noted its partnership with UNOCHA is developing.

The policy meeting came as the South Korean government expands its contributions to the international community by increasing the quantity and quality of South Korean humanitarian assistance responding to complex humanitarian crises.