KOICA (Korea International Cooperation Agency) held a series of communication events with development cooperation partners in commemoration of the ‘2023 Development Cooperation Week’ on November 22, 2023, sharing collaborative achievements.
The Development Cooperation Week has been celebrated annually since 2010 in honor of November 25, when the government of South Korea joined the OECD Development Assistance Committee (DAC). This year’s theme is ‘ODA: Sharing for the Future, Together with the Republic of Korea,’ with the subtitle ‘Global Values + Together with the People,’ running from November 20 to 24.
KOICA continues its efforts to expand support for startup incubation targeting a diverse range of development cooperation participants, including social ventures, prospective entrepreneurs, and non-profit organizations, in the pursuit of innovative solutions to address global complex crises. Additionally, KOICA envisions strengthening strategic collaboration beyond cooperation with small and medium-sized enterprises, large corporations, international organizations, and other donor countries to enhance its international contributions.
As part of these efforts, on November 22, KOICA organized the ‘2023 KOICA Innovation Day’ under the subtitle ‘Innovation Project Performance Presentation and Discussion on the Future Direction of Innovative Development Cooperation Projects, Including Blended Finance,’ held at Plaza Hotel Grand Ballroom in Seoul’s Jung-gu.
The event, attended by over 200 participants, including domestic and international public-private companies, investors, and government officials, featured panel talks with speakers from KOICA and private companies, sharing achievements and lessons, discussing improvements to corporate collaboration projects, and operating exhibition booths for project products and experiential displays.
In particular, BlueOrchard, a Swiss impact investment institution responsible for providing technical support to businesses in developing countries, announced plans for a new blended finance project in collaboration with KOICA. KOICA intends to participate in BlueOrchard’s Sustainable Assets Fund (BOSAF) to address global issues.
Mr. Lee Gyu-ho, Director of the Development Cooperation Bureau at the Ministry of Foreign Affairs, emphasized in a video message, “Government-led development cooperation should transform into a facilitator role that supports various development actors’ activities within developing countries to broaden their horizons and achieve development effectiveness.” He expressed the ministry’s commitment to supporting KOICA in achieving inclusive and sustainable development through innovative development cooperation partnerships.
Oh Seong-soo, Director of the Business Strategy Division at KOICA, welcomed participants, stating, “Collaboration with the private sector is one of KOICA’s future initiatives.” He highlighted KOICA’s past achievements in discovering capable companies through 292 innovative development cooperation projects in 37 countries, including recognition in the Bill & Melinda Gates Foundation’s innovation competition. He called for active participation from development cooperation partners in the future.
Simultaneously, the ‘2023 KOICA Solution Day – KOICA Partnership Frontier Dreaming of a Sustainable Future’ event occurred on the same day at KOICA Innoport Seminar Room, Event Hall, Sebashi X Demaco Hall in Gangnam-gu, Seoul. This event, attended by about 100 people, was designed to enhance the entrepreneurial capabilities and networking of private sector participants, including social ventures, non-profit organizations, and prospective entrepreneurs, in the field of development cooperation.
This event was the result of collaboration between three departments within KOICA responsible for development cooperation entrepreneurship incubation programs: the Business Cooperation Division, the Civil Society Cooperation Division, and the Overseas Volunteer Activity Management Team.
Each department has been providing participants with new business opportunities and possibilities through programs such as the Innoport Program (Business Cooperation Division), Social Economy Sector Civil-Military Cooperation Incubation Program (Civil Society Cooperation Division), and Return Program (Overseas Volunteer Activity Management Team), all aimed at activating the development cooperation entrepreneurial ecosystem.
In addition to the results-sharing session, the event included senior lectures and networking programs, facilitating broad exchanges of experiences among participants and discussions on business expansion opportunities.
Jung Ho-jin, Director of the Global Talent Business Division at KOICA, emphasized, “Today’s event is an opportunity to create a new solidarity and synergy for achieving SDGs within the development cooperation ecosystem.” He highlighted the efforts of participants, including civil society participants working at the forefront of developing countries, business representatives exploring new growth through innovative solutions and inclusive business models, and global talents entering the field of development cooperation. He encouraged the strengthening of partnerships through sharing their experiences.
KOICA is located within the Pangyo Techno Valley cluster in South Korea and operates collaboration programs with startups and local ventures. In August 2023, KOICA initiated exchange activities with the Seongnam City Cleaning Support Foundation and KOICA Global Trainees.
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