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Private companies

Private companies can play role to reduce poverty in developing countries. Korean government recognizes private companies’ potential in development; however, they were not actively involved in international development cooperation so far. In this sense, the Strategic plan includes the direction of expanding inclusive partnership with private companies for them to participate in ODA. In line with the Strategy Plan, KOICA initiated some pilot joint programs with Korean private companies in Southeast Asian countries. EDCF also established plan to build partnership with private companies for greater effectiveness and sustainable development for partner countries.

As more companies are interested in international development cooperation, based on growing requirement of Corporate Social Responsibility (CSR), Korean government will continue to build strategic partnership with private companies through consultation with private companies and other important stakeholders.

Case of partnership with private companies

  • Global CSR Partnership: Solar-Powered Streetlights Installation Project in Angkor Watt, Cambodia (2011-2012)
  • - The project to install the solar streetlights in Angkor heritage was conducted jointly with Asiana Airlines to reduce car accidents and to contribute to local economy with environment-friendly SOC. As for the division of labor, KOICA provided the budget to purchase solar-powered streetlights and helped in the administrative work to gain approval for the installation, while Asiana Airlines designed, purchased, and installed the streetlights.
  • Public-Private Partnership : Policy dialogue on PPP for infrastructure building
  • - (EDCF) In 2011, Korea Eximbank held policy dialogues and briefings on PPP in Vietnam, Indonesia, and the Philippines, thus provided information on the PPP market environment by country and candidate projects. Accordingly, SOC council was founded in March 2012 to identify large-scale infrastructure projects in Vietnam and the Philippines.