The Republic of Korea became the 24th member of the OECD Development Assistance Committee with unanimous approval by all DAC member states at a special session for Korea’s accession to the DAC, held at the OECD Headquarters in Paris on November 25 (local time). Korea’s DAC membership formally begins on January 1, 2010.
※The Korean delegation comprises officials from the Ministry of Foreign Affairs and Trade, Ministry of Strategy and Finance, Korea International Cooperation Agency (KOICA), and Export-Import Bank of Korea, including Deputy Minister for Multilateral and Global Affairs of MOFAT Oh Joon and Director-General of the International Economic Affairs Bureau of MOSF Joo Hyung-hwan, as well as Ambassador Kim Choong-soo from the Permanent Mission of the Republic of Korea to the OECD.
The special session for Korea’s accession to the DAC, presided over by DAC Chair Eckhard Deutscher, was attended by representatives of 23 DAC member states and the OECD DAC Secretariat. The special session started with a presentation of DAC Secretariat’s report on the results of the review of Korea’s readiness for accession, followed by questions from DAC members regarding Korea’s assistance activities and answers from the Korean delegation, and a closed-door discussion among DAC members about Korea’s membership with the Korean delegation out of the room.
ㅇ DAC member states placed great significance on the accession of Korea, the only country that has turned from recipient to donor. Korea was highly recognized for its mid- and long-term plan for ODA expansion, improvement efforts to build an aid system that meets the DAC criteria, and efforts to host the fourth High-Level Forum on Aid Effectiveness in Seoulin 2011, the largest and highest-level meeting in the development assistance area.
Immediately following the meeting, DAC Chair Eckhard Deutscher handed the Korean delegation a letter of invitation for Korea’s DAC membership. In response, the Korean delegation delivered OECD Secretary-General Angel Gurría a letter of acceptance in the name of Ambassador Kim Choong-soo, Permanent Representative of Korea to the OECD, which completedthe DAC accession process.
※Korea’s DAC accession process
- August, 2008: Korea decides to join the DAC by 2010 at the fourth
meeting of the Committee for International Development
Cooperation (Chairman: Prime Minister)
- March ~ September, 2008: the DAC conducts a special preliminary review of
Korea’s aid system
- January, 2009: Korea submits a DAC membership application
- June, 2009: the OECD DAC's fact-finding mission visits Korea
- October, 2009: the OECD DAC submits a report on Korea’s readiness for accession
Upon the exchange of letters, a reception, hosted by Ambassador Kim Choong-soo, was held at the OECD Headquarters to celebrate Korea’s accession to the DAC. The event was joined by around 200 people, including the OECD Secretary-General and Deputy Secretary-General, the DAC Chair, ambassadors from DAC members, OECD Secretariat officials, and journalists.
By joining the DAC, Korea has been officially recognized as acountry that has transformed itself from an emerging donor to an advanced donor. It will help enhance Korea's status by reaffirming its determination to make contributions to the international community.
※OECD countries that meet certain criteria can only join the DAC. The DAC’s membership now comprises 22 of the OECD's 30 member countries, and the European Commission (EC).
With the accession to the DAC, the Korean government will continue to make good on its promise to increase Korea’s ODA to 0.25% of its gross national income (GNI) by 2015, and also advance Korea's aid system to meet the DAC’s standards. To this end, the government will focus on increasing the use of untied aid, enhancing aid effectiveness, strengthening the link between grants and concessional loans, and pursuing the enactment of a basic law on ODA.
Also, Korea will play a bridging role between developed and developing nations based on Korea’s development experiences of the past in a development environment that has changed due to the emergence of various aid donors. In particular, Korea wants to contribute to forming a more inclusive global partnership for development cooperation by successfully hosting the fourth High-Level Forum on Aid Effectiveness in Seoul in 2011.
