The Evolving Role of Industrial ODA: Implications for Korean Policy

Soyoung Lim ()
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Soyoung Lim: Korea Institute for Industrial Economics and Trade, Postal: Sejong National Research Complex, Korea Institute for Industrial Economics and Trade, 370 Sicheong Dae-ro C-dong 8-12F 30147, Republic of Korea, http://www.kiet.re.kr

No 23/2, i-KIET Issues and Analysis from Korea Institute for Industrial Economics and Trade

Abstract: However, the global economy is in the midst of a polycrisis. Major issues in every sector worldwide have prompted a paradigm shift in industrial ODA. In calling for an adjustment to this new paradigm, this report outlines an updated industrial ODA strategy: Industrial ODA 2.0. The Korean Ministry of Trade, Industry and Energy (MOTIE) has announced plans to reform its industrial ODA programs to emphasize supply-chain, green, and technological ODA. These different areas of industrial ODA should be combined to enable developing countries to better deal with the global polycrisis, and also to strengthen the resilience of their industries and trade. The Korean government should expressly include supply-chain and trade ODA in its country partnership strategies (CPS). A system needs to be established in the long run to ensure effective performance management, monitoring, and evaluation in industrial ODA. The Korean government also needs to actively cooperate with the private sector to seize and develop new ODA opportunities, expand the Korean ODA ecosystem, and maximize the intended effects of its ODA activities.

Keywords: Official Development Assistance; ODA; industrial ODA; sustainable development; industrial development; strategic ODA; Korea (search for similar items in EconPapers)
JEL-codes: F53 F55 H77 H81 H87 O14 O25 (search for similar items in EconPapers)
Pages: 11 pages
Date: 2023-09-26
New Economics Papers: this item is included in nep-env, nep-int and nep-inv
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