The South Korean government has announced that the Official Development Assistance (ODA) budget for the year has been set at 5.4375 trillion won, which represents a decrease of 1 trillion won from the previous year's budget. In a meeting led by Prime Minister Kim Min-seok on the 26th, the government reviewed and approved the comprehensive implementation plan for international development cooperation. This year, a total of 37 agencies will carry out 1,763 projects, with a notable reduction from the 1,046 projects undertaken in the prior year due to the elimination of lower-performing initiatives.

The decision to cut the ODA budget was explained by government officials, who emphasized that the budget is expected to increase by 30% in 2024 and has grown by approximately 15% annually since 2020. They noted that the previous year's projects were thoroughly assessed, leading to a streamlining process that focused on larger-scale initiatives that can have a substantial impact on recipient countries, rather than small-scale, low-performing projects. The majority of projects will be concentrated in key regions such as Asia and Africa, with a focus on transportation, humanitarian support, education, and health sectors.

Additionally, the meeting resulted in the approval of the 'Fourth Comprehensive Basic Plan for International Development Cooperation' covering 2026-2030. This five-year strategy aims to enhance global responsibilities and address pressing issues such as climate change, health, and food security. The plan also aims to support vulnerable populations like children, women, and disabled individuals in accessing education and basic livelihoods. The government's approach will not only focus on traditional areas of strength like health and rural development but will also expand into emerging sectors such as artificial intelligence and culture, indicating a shift towards more innovative and integrated development cooperation efforts.