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S.Korea Set to Join OECD Development Committee

Written: 2009-11-25 07:37:25Updated: 0000-00-00 00:00:00

South Korea is expected to join the Development Assistance Committee (DAC) of the Organization for Economic Cooperation and Development (OECD).

The OECD is likely to approve South Korea’s entry into the assistance committee during the committee’s special meeting in Paris on Wednesday.

Once South Korea joins the DAC in January, it will become the first nation to see its status shift from aid beneficiary to aid provider since the OECD’s establishment in 1961.

Last month, the DAC Secretariat announced in a report that South Korea had met the standards required to enter the assistance committee.

The 23-member DAC is an organization of donor countries that provides more than 90 percent of world assistance.

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