Private Sector Engagement Policies in South Korea: Challenges and Policy Recommendations

The Korean government recently announced a strategy for engaging the private sector in international development. There are expectations that this will attract innovative solutions with more financial resources, but, on the other hand, there are concerns that private companies will only focus on pursuing commercial interests without paying attention to the normative legitimacy such as private sector development in partner countries. There are also concerns that fragmentation will further deepen as ODA funds are divided due to mutual non-interference among various actors. Finally, this study discusses policy implications for Korean private companies to be development agents which are derived from the case of German private sector engagement.