Korea, U.S. to jointly offer development aid

Korea and the United States are working together to help develop poor countries as part of a broadening partnership between two allies in global affairs.

Senior officials met in Washington D.C. earlier this week to discuss a new model of official development assistance that combines Korea`s experience of economic growth with abundant U.S. aid resources, the Prime Minister`s Office said.

Park Young-joon, vice minister for government policy, received positive responses to his suggestion of a joint ODA model during his meetings with Robert Hormats, U.S. under secretary of state for economic affairs, and Jim Michael, deputy administrator of the U.S. Agency for International Development.

The two countries agreed to form a discussion channel to promote the joint ODA, the office said.

The move comes as Korea prepares to emerge as a donor in the international community by becoming the 23rd member of the Development Assistance Committee of the OECD. The committee is scheduled to vote on Korea`s membership next Wednesday at the DAC meeting in Paris.



Korea, once a recipient of ODA, is pushing to increase aid for under-developed nations to match its status as a full member of the DAC. Seoul pledged to raise the amount of ODA to 0.25 percent of its gross national income by 2015 from the current 0.1 percent.

"Korea will be the only developing county to join the DAC and the only nation that has grown from receiving international aid to giving one," Park said.

"We are seeking cooperation with the United States to create a new model of ODA as we join the DAC."

While the United States boasts expansive financial resources, Korea has plenty of know-how on how to get out of poverty and the needs of developing nations, according to Park.

"Having experienced colonization, war and industrialization, Korea has much in common with many under-developed countries, and this would help us build a win-win prototype of ODA," he said.

Park`s next stop will be Canada, where he plans to make a similar proposal. Canada offered $7 billion in ODA last year, while Korea extended $800 million.

Park also met with Joseph Szabo, chief of the U.S. Federal Railroad Administration, to discuss Korea`s participation in the high-speed railway project sought by the Barack Obama administration as part of a stimulus package.

The federal government has secured $8 billion in stimulus money for the high-speed railroad network and plans to spend another $1 billion each year for the next five years.

Forty states have signed up for $57 billion in federal funds for the high-speed railway project.

Szabo said the FRA was deeply interested in Korean high-speed trains, which it will look into along with European ones, and that he would visit Korea early next year.

(sophie@heraldm.com)



By Kim So-hyun