Policy suggestion to Official Development Assistance of Korea towards sustainable development of developing countries in marine sectors

Abstract

This paper aims to assess major contributing factors to problems that developing countries are facing at the present time, and to suggest the way in which those factors are addressed to build Korean ocean policy towards developing world. Five types of economic failure found in developing countries were investigated to understand difficulties and needs of them, including poverty, state bankruptcy, financial difficulty, civil war, and structural transition. Those state failures could bring great socioeconomic impacts on Korean interests, such as national security, economic stakes, international crimes, infectious diseases, and resource wars. In conclusion, five bullet points that Korea needs to fully address in making international ocean policy are suggested: 1) focusing more on human and social assets; 2) protecting social and environmental problems; 3) streamlining assistance institution; 4) improving national image; 5) management based on sustainability. As a G-20 chairmanship nation in 2010, Korea should be serving a bridge between developed and developing world to make them better off the sustainable international cooperation in marine sectors.