Korea Contributes USD 18M to UNDP's Core Resources for 2024, Marking a 70% Increase

The increased funding will support efforts to reduce poverty and drive inclusive, green, and digital transitions in the face of global challenges.

The United Nations Development Programme (UNDP) has announced a generous contribution of USD 18 million from the Republic of Korea to its core resources for 2024. This represents a significant 70% increase compared to Korea's core contribution in 2023, underscoring the country's commitment to global development at a time when the demand for development assistance far exceeds available resources.

UNDP’s Administrator, Achim Steiner, expressed profound gratitude for the Republic of Korea's continued support, highlighting how the contribution enables UNDP to assist governments and communities in advancing their sustainable development agendas. The increased funding will support efforts to reduce poverty and drive inclusive, green, and digital transitions in the face of global challenges.

“At a time when many countries are turning inward and reducing funding to international development, the Republic of Korea is signaling that the world needs more investment, not less, in sustainable development,” said Steiner. “I extend my deepest gratitude to the Republic of Korea for its unwavering partnership and continued trust in UNDP to advance the Sustainable Development Goals, particularly in crisis response, digital transformation, and the essential green energy transition.”

The Republic of Korea has been a consistent supporter of UNDP’s efforts to integrate humanitarian, development, and peace initiatives (the HDP nexus) in fragile contexts. Notable examples of their joint work include collaboration in countries such as Ukraine and Myanmar, where the focus has been on responding to crises and fostering long-term resilience. Additionally, Korea supports UNDP's flagship Human Development Report and is a key partner in promoting development effectiveness through targeted thematic funding.

UNDP and the Republic of Korea have further strengthened their relationship in recent months. In September 2024, during the UN General Assembly, Mr. Steiner met with H.E. Mr. Cho Tae-yul, Korea’s Minister for Foreign Affairs, to discuss their ongoing collaboration and explore new avenues for joint work, particularly in areas such as digitalization, Artificial Intelligence, democratic governance, and supporting countries in crisis situations.

In October, Mr. Steiner traveled to Seoul, where he met with high-level officials and attended the Seoul Debates 2024, a conference jointly organized by the UNDP Seoul Policy Centre and the Ministry of Foreign Affairs. This event reinforced the shared commitment to addressing global challenges and advancing development agendas through innovative solutions and strategic partnerships.

Korea’s substantial increase in contribution to UNDP not only reinforces the country's leadership in global development efforts but also highlights the importance of international collaboration in achieving the Sustainable Development Goals (SDGs) amidst the complex challenges facing the world today.