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Korea and Key Southeast Asian Partners to Implement New Southern ODA

  • Date : 2019-11-25 15:00:17
  • Hit : 1072

A Memorandum of Understanding on Development Cooperation Signed with Five Southeast Asian Nations

1. On November 25, 2019, at the commemorative ceremony for ‘2019 International Development Cooperation Day’ organized on the margins the 2019 ASEAN-ROK Commemorative Summit in Busan, H.E. Kang Kyung-wha, Foreign Minister of the Republic of Korea signed a Memorandum of Understanding (MOU) on Development Cooperation with the Kingdom of Cambodia, the Lao People’s Democratic Republic, the Republic of the Union of Myanmar, the Republic of the Philippines, and the Socialist Republic of Vietnam.

2. Korea and the five Southeast Asian nations agreed to build onto the MOU to expand development cooperation and promote the following five flagship programs in accordance with Korea’s New Southern ODA Strategy: i) Digital Partnership for Inclusive Development; ii) Higher Education for a Prosperous Future; iii) Korea-Mekong Future Peace Community; iv) Smart Cities for the People and Planet; and v) Inclusive Transportation for Balanced Growth.

3. This MOU, with development cooperation being one of the major pillars underpinning the New Southern Policy, will contribute to realizing core values of the policy: People, Peace, and Co-Prosperity and serve as the foundation for elevating relations between Korea and ASEAN and Mekong countries.

 ㅇ Moreover, the five flagship programs will stimulate further Korea-ASEAN cooperation in areas such as ICT, inter-university exchange, smart technology, and transportation infrastructure.

4. The Ministry of Foreign Affairs of the Republic of Korea will continue to contribute toward the Korea-ASEAN vision of “Partnership for Peace, Prosperity for People” by identifying and implementing specific cooperation projects in close cooperation with the Korea International Cooperation Agency (KOICA) and other ODA implementing agencies. /END/