The Framework Act puts forward the basic spirit, objectives and principles that guide and govern Korea’s provision of ODA. Article 3 of the Framework Act specifies the basic goals underpinning Korea’s ODA as follows: to reduce poverty in developing nations; to improve the human rights of women, children and persons with disabilities; to achieve gender equality; to realize sustainable development and humanitarianism; to promote economic cooperation relationships with Korea's cooperation partners, and to pursue peace and prosperity in the international community. These ideas are taken into consideration in the ODA project decision-making processes, so that they can be properly reflected in Korea’s policies and strategies.
   The Framework Act stipulates the objectives of Korea’s development cooperation activities in its Article 3 (2), as follows: the reductions of poverty and improvements in the quality of life in developing nations; the development of developing nations and improvement of their systems and conditions for development; the promotion of friendly relationships and mutual exchanges with developing nations; contributions to the resolution of global problems related to international development cooperation and contributions to achievement for goals regarding sustainable development(Article 3(2)). Article 4 (1) of the Act then provides the following guiding principles for all ministries and institutions involved in development cooperation: respect for all principles of the Charter of the United Nations; support for the self-help efforts and capacities of developing countries; respect for development needs of developing countries; increased sharing of Korea's development experiences, and promotion of harmonious relationships and cooperation with the international community.
   In its Article 4 (2), the Framework Act also highlights the importance of development effectiveness, by directly stipulating that all ministries and institutions involved in ODA provision shall endeavor to strengthen the connections between bilateral and multilateral development cooperation, as well as between grant aid and loans, and implement policies for international development cooperation in a consistent manner, to thereby maximize the effectiveness of international development cooperation.

Basic ideas, objectives and principles