1. The Ministry of Foreign Affairs will hold a roundtable meeting on development cooperation between the Republic of Korea and India in New Delhi, India, on July 25, in order to explain the ROK’s development cooperation policy and share development cooperation experiences with donor organizations in India.

o The meeting will bring together representatives from relevant organizations, including the Korea International Cooperation Agency (KOICA), the Ministry of Finance and the Ministry of Skill Development and Entrepreneurship of India, the Biotechnology Industry Research Assistance Council (BIRAC), the Federation of Indian Chambers of Commerce and Industry (FICCI), the United States Agency for International Development (USAID) in India, the World Bank, the United Nations Development Programme (UNDP), the United Nations Industrial Development Organization (UNIDO), and the Asia Foundation.

2. The upcoming meeting holds big significance as it marks the first time for international organizations, government agencies, and relevant organizations of the ROK and India to gather together since the ROK officially began to provide official development assistance (ODA) to India this year.

o Director-General for Development Cooperation of the Foreign Ministry Jeong Jin-kyu and USAID/India Mission Director Mark A. White will deliver congratulatory remarks. The remarks will be followed by robust discussions on the ROK and India’s development cooperation; development experiences of donor organizations and international organizations in India; and ways to enhance cooperation between NGOs and private companies.

3. The forthcoming event is expected to create synergy that will help Korean start-up companies participate in development cooperation projects between the ROK and India and make inroads into the Indian market through cooperation between KOICA’s “Creative Technology Solution (CTS),” an innovative technology program, and BIRAC’s “Grand Challenge India,” a program to support the healthcare sector in India.

o KOICA’s CTS is a program to use young innovators’ creative ideas and technologies in providing ODA, thereby finding a solution to the problems in development countries which were difficult to solve with existing methods; encouraging start-ups founded by youngsters, innovators, scientists and global healthcare workers to participate in ODA programs; and helping them to make inroads into developing countries and the global market (starting a global business or being employed).

4. In particular, Korean start-ups “DOT” and “OBITZ,” which are conducting the CTS program, will attend the meeting and explore opportunities to participate in development cooperation programs in India.

o The Foreign Ministry and KOICA expect that the CTS program aimed at making use of start-up companies’ creative and innovative technology will not only enhance the effectiveness of public-private partnerships, but also contribute to stable social and economic development and job creation, included in the Sustainable Development Goals (SDGs).

5. In the upcoming roundtable meeting, the Foreign Ministry will explore various ways to expand cooperation with India through new development cooperation projects and creative public-private partnerships, and make active efforts to help more Korean firms founded by youngsters, innovative companies and start-up companies make inroads into India’s ODA market and carry out joint programs in the country.


* unofficial translation