The government set this year's budget for official development assistance(ODA) at a record high of around six-point-two trillion won, or four-point-64 billion U.S. dollars.

The record budget was approved on Thursday morning during a meeting of the international development cooperation committee presided over by Prime Minister Han Duck-soo. 

This year’s budget marks an increase of one-point-48 trillion won or 31 percent from the previous year. 

The final budget was cut from the initial figure of six-point-five trillion won during the parliamentary budget review, but is still a record high figure. 

It also marks the largest growth since South Korea became the 24th member of the Development Assistance Committee of the Organization for Economic Cooperation and Development in 2010.

More than 17 percent of the budget will go to humanitarian assistance such as support for reconstruction work in Ukraine, with about 15 percent to be spent on transportation and nine percent dedicated to health care.