Posted: 26.09.2023 17:34:00

South Korea plans to increase aid to developing countries by 40% in 2024

South Korean President Yoon Suk Yeol said the country plans to increase its official development assistance (ODA) to other countries by 40 percent in 2024, TASS reports


Yoon Suk Yeol said, “The Republic of Korea intends to increase the volume of its official development assistance. Despite this year’s fiscal austerity measures, the government has raised its ODA budget plan for 2024 by 40 percent.”

He said South Korea intends to enhance the characteristics and needs of countries that will receive assistance. Yoon Suk Yeol also underlined the special importance of education in ensuring progress in social and economic spheres.

Moreover, he touched upon the issue of climate change. According to him, in addition to the use of renewable energy sources, the Republic of Korea will increase its potential in nuclear and hydrogen energy.