The 3rd Korea-UK Policy Dialogue on Development was held in London on February 15, with Park Kang-ho, Director-General for Development Cooperation of the Ministry of Foreign Affairs and Trade, and Kevin Sparkhall, Director of the Donor Relations Department of the Department for International Development, as heads of the delegations, respectively.
 
 
During the meeting, the two sides had discussions on various issues, including the current and future directions of their development policy, evaluation of the multilateral development aid, and Korea-UK collaboration in bilateral and multilateral development aid.
 
The Korean side made a presentation on the overall trends and future direction of Korea's ODA, and indicated its intention to increase the ODA/GNI ratio to 0.25% by 2015. It also pronounced its commitment to untying 40% of Korea's concenssional loans and 90% of grant aid by 2015. Korea also asked the UK to support its efforts to join as a full member the Development Assistance Committee of the Organization for Economic Cooperation and Development(OECD-DAC) and Multilateral Organization Performance Assessment Network(MOPAN). The UK side expressed its willingness to support the accession of Korea to MOPAN as well as to the OECD-DAC.
 
Both sides agreed to strive to enhance aid effectiveness and achieve Millenium Development Goals(MDGs) through active participation in the up-coming "G-8 Development Ministers' Meeting," the "3rd High Level Forum on Aid Effectiveness," and the "Follow-up International Conference on Financing for Developement to Review the Implementation of the Monterrey Consensus." The two sides also agreed to collaborate at the field-office level for bilateral cooperation in development assistance.

The UK side explained the rationale and the effectiveness of the multi-donor approach in implementing development assistance, and agreed to share with Korea its experiences and expertise in this area. The UK side discussed its experiences in promoting public awareness on development assistance, and emphasized the usefulness of adopting differentiated approaches to diverse social classes.
 
 
Previous to this meeting, the two sides held their 2nd Policy Dialogue on Development in Seoul in December 2006. The parties agreed to hold their 4th meeting in Seoul.