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 3.16 billion in 2023. As of 2023, Korea's bilateral and multilateral aid accounted
for 74% and 26%, respectively. In terms of bilateral aid, concessional loans made up 31%, while grants accounted
for 69%.
[Grant Equivalent (million USD)]
| Year |
ODA |
Bilateral ODA |
Multilateral ODA |
| Amount |
share (%) |
Amount |
share (%) |
| 2019 |
2,463.18 |
1,857.04 |
75.4 |
606.14 |
24.6 |
| 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 |
KOR