The Global Green Growth Institute, a Korea-initiated nonprofit organization to promote environmentally friendly development, was officially transformed into an international agency on Thursday, 28 months after its launch.

The agency met the requirement as an international body, which is the ratification of at least three countries, as Kiribati’s approval on Sept. 18 took effect following Denmark and Guyana.

With 18 member countries the GGGI is the first international organization founded under the initiative of Korea.

Mexico signed an agreement last week to become the latest member.

It plans to hold an inaugural assembly and board meeting in Seoul on Oct. 23-24 with the participation of some 300 officials from the member countries, the Secretariat said.

The GGGI consists of government officials, diplomats, corporate executives and civic group members

It hopes to become a global public-private partnership platform where emerging markets can not only gain technological assistance and investment, but also become environmentally and socially sustainable for greater resource security and efficiency, GGGI said.

“Green growth is the agenda that responds to both continuous development and climate change, the key issues drawing high interest from developing countries,” Seoul‘s Green Growth Ambassador Shin Boo-nam was quoted as saying.

“The GGGI is also expected to contribute to solidifying Korea’s status as a leader in this future-oriented issue.”

By Park Hyong-ki (hkp@heraldcorp.com)