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2010-02-17 03:40:29 |
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Korea Joins OECD/DAC as its 24th Member |
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On November 25 at the OECD headquarters in Paris, Korea was admitted to OECD's Development Assistance Committee(DAC) as its 24th member. It was based on the unanimous approval of the Special Committee which has been organised to deliver a special peer review on Korea's admission proposal. The pre-condition for DAC admission is whether the total amount of official development assistance(ODA) is over 100 million dollar or more than 0.2% of the Gross National Income(GNI). In the case of Korea, although the percentage of assistance is less than 0.2% of GNI, it has been qualified to be admitted due to the fact that the total amount exceeds 100 million dollars. As a new member of DAC, Korea has pledged to the international community that it will carry out all the guidelines and recommendations issued by DAC and reflect these to its ODA policies. Korea will also have to keep its promise made to the development community that it will expand it's ODA scale to 0.15% of GNI by 2012 and 0.25% by 2015. Korea is faced with a task of improving its assistance system to meet global standards. Korea's admission to DAC has triggered international interest and infusedvitality to the development assistance community. It is the first actual case in the history of development assistance for a recipient country to convert its status to a donor country. It is expected that Korea's DAC admission and the coming G-20 will contribute significantly to the enhancement of Korea's international status. |
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