Since Korea’s accession to the OECD DAC in 2010, the government enacted the Framework Act on International Development Cooperation to enhance policy coherence and aid effectiveness. Korea has also continuously increased its ODA volume to contribute to the development of developing countries. Over the past five years, Korea’s total ODA support (in grant equivalent terms) showed relatively high volatility due to the impact of the COVID-19 pandemic. However, with the end of the pandemic, the ODA support volume has normalized, reaching a record high of USD 4.03 billion in 2024. As of 2024, Korea's bilateral and multilateral aid accounted for 79% and 21%, respectively. Within bilateral aid, concessional loans represented 30%, while grants accounted for 70%.
[Grant Equivalent (million USD)]
| Year |
ODA |
Bilateral ODA |
Multilateral ODA |
| Amount |
share (%) |
Amount |
share (%) |
| 2020 |
2,250.03 |
1,751.45 |
77.8 |
498.58 |
22.2 |
| 2021 |
2,872.51 |
2,168.11 |
75.5 |
704.4 |
24.5 |
| 2022 |
2,809.54 |
2,221.01 |
79 |
588.53 |
20.9 |
| 2023 |
3,160.26 |
2,324.81 |
73.6 |
835.45 |
26.4 |
| 2024 |
4,030.76 |
3,188.43 |
79.1 |
842.33 |
20.9 |
KOR