South Korea pledges to lead development cooperation, leveraging aid-to-donor experience at G7

South Korean President Yoon Suk Yeol declared that his nation will actively contribute to global development cooperation, drawing on its own journey from an aid recipient to a donor country. Addressing the G7 summit in France, Yoon stated that South Korea is ready to fulfill its responsibilities and play a role in building international partnerships.

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The South Korean government will fulfill its due responsibilities and roles in building international partnerships based on its experience and capabilities, having grown from a country that received aid to one that provides aid.

During a session focused on building new partnerships and rebuilding international solidarity, Yoon discussed with other leaders how to enhance the self-reliance of aid recipient countries and foster mutually beneficial partnerships between donors and recipients. He highlighted the growing challenge of the AI revolution, noting that many developing nations struggle to access its opportunities. To address this, Yoon advocated for a new partnership model that combines aid, investment, and technology.

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Private investment must open new avenues for growth for recipient countries in a situation where development aid budgets are shrinking.

Yoon proposed three key directions for development cooperation. First, he stressed the need to mobilize private investment to create new growth avenues for recipient countries, especially as official development assistance budgets face reductions. He suggested that public funds should act as catalysts to encourage private investment and domestic resources from partner nations. Second, he called for support to prevent technological disparities from widening the growth gap, emphasizing the importance of sharing the benefits of AI advancements globally. South Korea presented its vision for a "global AI basic society" to ensure all humanity benefits from AI progress. Third, Yoon underscored that the success of development cooperation should be measured by the actual improvement in the lives of people in recipient countries, not just the amount of funds invested, urging for enhanced practical effectiveness.

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It is crucial that the results of technological advancements, such as artificial intelligence, are shared with all countries in the world and that we grow together.

France, the G7 chair, adopted three documents following the session on "Mutually Beneficial International Partnerships," "Cancer Eradication," and "Ebola Response." South Korea expressed its support for these documents, reaffirming its commitment to development cooperation and health security alongside G7 and partner nations.

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The results of development cooperation depend not only on the scale of invested funds but also on how much the lives of the people in recipient countries actually change.