Deputy Minister Oh Young-joo: "Next Year's ODA Budget to Increase by 45%... Aiming for Top 10 in OECD DAC"

Will Fulfill International Role to Realize a Global Hub Nation

The government announced that, in line with the Indo-Pacific strategy, it will push for the allocation of a 6.5 trillion won public development assistance (ODA) budget next year, aiming to rise into the top 10 countries in the OECD Development Assistance Committee (OECD DAC).

On the 7th, Oh Young-joo, Vice Minister of Foreign Affairs, stated in a congratulatory speech at the 16th Seoul ODA International Conference held at Lotte Hotel in Jung-gu, Seoul, “We will faithfully fulfill our promise to continuously expand the scale of ODA.” Vice Minister Oh said, “Following this year’s 21.3% increase in the ODA budget compared to the previous year, the government submitted a 6.5 trillion won ODA budget to the National Assembly for next year, which is about a 45% increase compared to this year.” He added that if this plan is maintained, Korea will enter the top 10 of the OECD DAC.

Jang Won-sam, President of the Korea International Cooperation Agency (KOICA), also said, “Under the vision of realizing Korea as a global pivotal state, the government announced the Indo-Pacific strategy of freedom, peace, and prosperity and declared its commitment to contributing to peace and prosperity in the international community.” He added, “The Korean government is not only strengthening support and cooperation for developing countries in the Indo-Pacific region through tailored development cooperation partnerships and proactive contribution diplomacy, but also expanding cooperation with advanced countries, emerging shared countries, international organizations, private companies, and civil society.”

On the 7th, the 16th Seoul ODA International Conference was held at Lotte Hotel Seoul. The photo shows the speakers and moderator of the first session (Indo-Pacific Strategy and International Development Cooperation). (Photo by Koo Chae-eun)

The first session, themed “Indo-Pacific Strategy and International Development,” introduced the directions of ODA promotion based on the Indo-Pacific strategies of various countries including the UK and the US. Gareth Weir, Deputy Head of Mission at the British Embassy in Korea, mentioned public development assistance (ODA) linked to the “Indo-Pacific Strategy.” Deputy Head Weir said, “The Indo-Pacific region is home to half of the world’s population, accounts for 50% of global economic growth, and is the center of security and prosperity,” adding, “At the development agency level, we are focusing on partnerships related to climate, women, and energy transition.”

Heath Cosgrove, USAID Korea-Japan representative and US development advisor, said, “Based on the strategy to create a freely connected, prosperous, and resilient Indo-Pacific region, we will pursue sustainable prosperity.” He added, “Through ODA projects centered on 12 Pacific hubs, we will promote inclusive growth and fair and transparent governance.”

The conference, jointly hosted by KOICA and the Ministry of Foreign Affairs, was attended by over 300 participants including development agencies from the US, Japan, T?rkiye, international organizations, academia, and diplomatic corps in Korea.