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Korea seen as a role model

clock03-29-2010, 12:37 AM
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South Korea seen as a model

Thu, June 1, 2006


SEOUL -- South Korea's successful rise from one of the world's poorest countries half a century ago can be a model for the developing world, particularly Africa, World Bank President Paul Wolfowitz said yesterday.

"Korea is a country with a remarkable story to tell about successful development," Wolfowitz said in a speech at a business dialogue sponsored by the state-run Korea Trade-Investment Promotion Agency. "Only 50 years ago, Korea was a small, poor country with a closed economy."

On Tuesday, Wolfowitz met President Roh Moo-hyun and other officials to discuss the country's emerging role as an international aid donor and discuss ways to jointly fight global poverty.

Wolfowitz, in his speech, cited sound government policies -- including investment in industrial and social infrastructure, particularly education, and international aid as key to South Korea's success in rising to become the world's 10th-largest economy.

"Korea is just the kind of model the World Bank likes to point to when working with other countries," he said.

Wolfowitz also praised South Korea for planning to nearly double its total foreign aid to 0.1 percent of gross domestic product by 2009 and to triple aid to Africa to $100 million by 2008.

"Korea's leadership brings with it certain responsibilities," he said. "Today, many countries, particularly in sub-Saharan Africa, are still where Korea was 40 years ago. These countries could learn a great deal from Korea's experience."

Roh announced the expanded aid plan for Africa during a March visit to several countries on the continent, including Nigeria.

The visit to South Korea was the first by a World Bank chief since 1998. Wolfowitz left yesterday for Europe, said bank official Lester Dally.

Prior to arriving in Seoul, Wolfowitz spent four days in Japan discussing development and anti-poverty issues globally and in Africa with Japanese officials, business representatives and non- governmental group leaders.

On Monday in Tokyo, Wolfowitz said just sending aid isn't enough to help reduce poverty in Africa, calling on rich countries to do more by investing in basic services like electricity and transportation.
clock07-07-2012, 05:55 PM
Yorum: #2
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