New York/Seoul — The United Nations Development Programme (UNDP) is pleased to announce the Republic of Korea's contribution of USD 18 million to its core resources for 2024. Compared with 2023 core contribution, this represents a significant 70% increase in funding at a time when the demand for development assistance greatly surpasses available resources. This substantial increase also demonstrates the Republic of Korea's broader commitment to enhancing its Overseas Development Assistance contributions to the global community.

UNDP’s Administrator expressed his gratitude to the Republic of Korea for its dedication to advancing global development. This support enables UNDP to assist governments and communities in reducing poverty and accelerating efforts towards inclusive, green, and digital transitions.

“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,” stated Achim Steiner, UNDP Administrator. “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 and our collaborative efforts in crisis response, digital transformation, and the essential green energy transition.”

The Republic of Korea has actively supported UNDP’s initiatives to integrate humanitarian, development, and peace initiatives (the HDP nexus) in various fragile contexts, including in Ukraine and Myanmar. The Republic of Korea also supports UNDP’s flagship Human Development Report, promotes development effectiveness and consistently provides thematic funding.  

During the UN General Assembly in September 2024, Mr. Steiner met with H.E. Mr. Cho Tae-yul, the Republic of Korea's Minister for Foreign Affairs, to discuss their ongoing partnership and explore new avenues for cooperation between UNDP and the Republic of Korea, focusing on areas such as digitalization, Artificial Intelligence, democratic governance and supporting countries in crisis situations.

In October, Mr. Steiner travelled to Seoul where he met with officials from the Republic of Korea, and attended the Seoul Debates 2024, organized jointly by the UNDP Seoul Policy Centre and the Ministry of Foreign Affairs.

To learn more about UNDP’s core resources: https://www.undp.org/publications/core-resources.