On August 6, it was announced that the Ministry of Strategy and Finance and the Export-Import Bank of Korea (www.koreaexim.go.kr, Chairman Yong Hwan Kim, “ Korea Eximbank”) would be co-hosting their first essay contest on international development for university students to mark the third anniversary of Korea’s accession to the OECD DAC*.

* The DAC is a subsidiary of the OECD and was launched to better assist developing nations. Comprised of OECD members providing ODA, the DAC is also known as the “club of donor countries” or the “group of advanced aid-providing countries.”

The future of Korea’s ODA will be the theme of the essay contest. Organizers of the contest anticipate creative and thought provoking essays on topics such as increased linkage between concessional and non-concessional assistance, promotion of knowledge sharing, and expansion of Private Public Partnership (PPP) programs.

Korea’s status in the international development community has increased after accession into the OECD DAC (November 2009), G20 Seoul Summit (November 2010), and the Busan Fourth High Level Forum (November 2011).

In light of Korea’s increasing prominence in international development assistance, the Ministry of Strategy and Finance and the Export-Import Bank of Korea hopes to nurture future talents in development assistance who will follow in the footsteps of prominent leaders such as the UN Secretary General Ki-moon Ban and World Bank President Yong Kim.

Essays can be submitted online though the Korea Eximbank website (www.koreaexim.go.kr) or the Economic Development Cooperation Fund website (www.edcfkorea.go.kr) by September 21. Submissions passing the first round of evaluations will be reviewed for an in-depth final assessment.

Four winners will be selected for honors and monetary prizes and will gain an advantage in the seeking jobs at Korea Eximbank.

Of special note, the first and second place winners will be given the opportunity to visit Vietnam to see firsthand the impact of EDCF activities.