Legislation

The ‘Overall Policy Improvement Framework’ (Nov 2005) of the Republic of Korea, proposes the need for a new legislation, the 'International Aid Act' regulating primarily on the ODA scheme to include both grants and loans and policy, as well as the establishment of relevant bodies. Accordingly, four draft legislations were proposed at the national assembly in June 2007. Such legislative initiatives may well be considered timely as the Republic of Korea had reached a point in time when appropriate actions on ODA had to be taken commensurate with its economic capacity. Alongside with Korea’s aim to join the OECD/DAC by 2010, the legislation of the ODA Act will not only internally enable the establishment of coherent ODA policies, but will also play a major role in expressing the determination of the Korean government to make contributions to the international society. The legislation will be enacted based on the consensus reached after a series of discussions by relevant governmental bodies on details such as the preamble, philosophy and objectives, basic principles, policy priorities, and the implementation bodies.

Chronicle of the Legislation

Between Dec 2006-Jun 2007,4 drafts for the Framework Act on ODA were proposed (in the form of parliamentarian proposals) at the National Assembly. On June 22, 2007, a Public Hearing was held by the Unification, Foreign Affairs, Trade Committee's Draft Legislation Revision Subcommittee. In August 2007, the Draft Act by Rep. Kim, Bu-Kyum was communicated to Unification, Foreign Affairs, Trade Committee's Draft Legislation Revision Subcommittee; three other draft acts were left pending at the Management Committee for the Standing Committee's decision.