Last week, the South Korean Government in Seoul announced it will join the International Aid Transparency Initiative (IATI).

The Korean International Cooperation Agency (KOICA) and Korean Economic Development Cooperation Fund (EDCF) – the first being in charge of grants and the second in charge of loans – will both join IATI by 2015.

Rachel Rank, Deputy Director of Publish What You Fund, said:

“We are pleased to see such strong support for aid transparency by the Korean government, and we look forward to KOICA and EDCF becoming full members of IATI.

“As one of the newest members of the OECD’s Development Assistance Committee, and a country that has received development cooperation relatively recently compared to other DAC members, Korea is leading the way by demonstrating it takes its responsibilities seriously as a development provider. We hope other DAC members will follow their lead.”

Read more from ODA Watch, the Korean NGO we’ve been working with to promote aid transparency in Korea. Or read in English.