Thank you, Mr. Chairman,

1. I would like to begin by expressing my appreciation for the detailed and comprehensive 
presentation last Friday by Ms. Alicia Barcena, Under-Secretary-General for Management, 
and for the continuing hard work of the Secretariat in addressing the financial situation of 
the United Nations.

2. My delegation is pleased to note in the Secretariat’s report that the overall financial 
situation of the United Nations in 2006 was generally better than in 2005. We are especially 
pleased to note that the trend of Member States paying their regular budget contributions 
within the assessed year continued in 2006. One hundred thirty-nine Member States paid 
their regular budget assessments in full, only one less than in 2005, which was the highest 
level since 2002. Thanks to this trend, cash resources available on 16 May 2007 were $338 
million higher than at the end of 2006. My delegation therefore wishes to observe that more 
Member States are joining in the worthwhile and noble endeavour of making our Organization 
stronger and healthier.

3. As for the peacekeeping budget, however, the Republic of Korea is concerned that the 
total of unpaid contributions at the end of 2006 reached over $1.8 billion. In view of this 
chronic problem of contributions that remain in arrears, my delegation is particularly 
worried that some peacekeeping operations could be undermined or even jeopardized, 
since restrictions remain in force on borrowing from other active peacekeeping missions 
and from using the Peacekeeping Reserve Fund. We appeal to those Member States who 
still have outstanding balances to pay their assessed contributions in full, on time, 
and unconditionally.

4. My delegation further notes that the Organization’s debt to Member States is projected 
to amount to $589 million by the end of 2007. This problem threatens to become a 
vicious cycle. If Member States are to commit substantial resources to the UN as needs 
arise, they must be confident that they will be reimbursed in a timely fashion. My 
delegation continues to hope that outstanding debts to Member States will decrease.

5. My government is fully committed to human rights and the adjudication of international 
crimes against humanity. We therefore note with concern that the financial position of the 
International Tribunals seriously deteriorated last year. Outstanding assessments for the 
international tribunals for and the former increased at the end of 2006 
to $51 million from $25 million at the end of the previous year. We trust and hope that 
Member States will be encouraged to fulfil their commitments in order to ensure that 
the wheels of justice move smoothly and efficiently. By doing so, we promote respect 
for international law.

6. As to the Capital Master Plan, my delegation is disappointed by the Secretariat’s report 
that just 48 Member States paid their assessed contributions in full by the cut-off date of 
7 May 2007 and that 24 Member States have not paid anything at all to the Capital Master 
Plan. In both these areas, my delegation encourages those Member States who have 
outstanding contributions to fulfil their financial obligations at the earliest possible date.

Mr. Chairman,

7. As my delegation already indicated in its remarks during the last Main Part session, 
the Republic of Korea paid all its assessments in full for the Regular Budget, the 
Peacekeeping Operations, the International Tribunals, and the Capital Master Plan that 
were due and payable on 16 May 2007. Let me assure you that the Republic of Korea is 
mindful of the task of regularizing the financial situation of the United Nations and will 
continue to do its due part to make our Organization financially healthy and fully 
sustainable. 

Thank you.