The Export-Import Bank of Korea (www.koreaexim.go.kr, Chairman Kim Yong-hwan, “Korea Eximbank”), the agency responsible for compiling Korea’s official development assistance (ODA)-related statistics, reported on April 3 that Korea’s ODA volume for 2012 totaled USD 1.55 billion.

* The Export-Import Bank of Korea was designated by the International Development Cooperation Committee in October 2010 to oversee the gathering and analysis of statistical information pertaining to Korea’s ODA.

The total represents an increase of USD 230 million over the previous year and marks the seventh consecutive year of increase in Korea’s ODA volume since 2006. While 15 of the 24 member countries of the OECD Development Assistance Committee (DAC) have reduced their ODA volumes, Korea’s grew at the highest rate, by 17.1%.

According to DAC member country statistics released by the bank*, Korea ranked 16th out of 24 countries in terms of total ODA volume, up from 17th place last year; similarly, its ratio of ODA to gross national income (GNI) increased by 0.02%p to 0.12%, moving the country’s ranking up one notch to 22nd place.

* Source: Statistics on the ODA volumes of DAC member countries in 2012, released by the OECD on April 3, 2013.

Korea’s ODA per capita in 2012 totaled KRW 34,924, representing an increase of KRW 5,460 from the year before.

The US, UK, Germany, France, and Japan were ranked as the top five donors while Denmark, Luxembourg, Holland, Norway, and Sweden surpassed the ODA/GNI target of 0.7% suggested by the UN.