PARTNERSHIP

IFC and Republic of Korea

The Republic of Korea’s relationship with IFC has grown over the last 50 years from a recipient country to a key partner in cross-border investments and a significant source of mobilization.

Korea is a valuable donor and knowledge partner for IFC, drawing on its unique development experience as a country that transitioned from low-income to high-income status within a few decades. This rapid and inclusive growth serves as a model for other developing nations.

Korea’s expertise in technology, infrastructure, green growth, and innovation aligns closely with IFC’s strategic priorities. Furthermore, Korea provides IFC with critical donor funding through trust fund programs, complemented by Korean expertise and partnerships. The support enables IFC to deliver advisory services, Upstream activities, and blended finance solutions globally to advance sustainable development.


Featured Programs

Korea - Green Resilient and Innovative Development (K-GRID) Program

In 2023, the K-GRID program was launched at IFC with $30 million commitment from the Government of Korea. The K-GRID program supports Advisory Services, Upstream activities, and Blended Finance investments for IFC projects that advance climate and digital solutions in developing countries.

Korea-IFC Partnership Program (KIPP)

KIPP (2018 - 2025) was established to support IFC’s development agenda aligned with the Korean government’s priorities and to strengthen the Korea – IFC partnership. The Government of Korea committed $18 million to KIPP, enabling the program to support 20 Advisory and Upstream projects across various sectors and regions.

Reflection of Seoul city's skyline at twilight, in the Han river. Photo: Adobe Stock

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Youngki Hong
Operations Officer
Washington D.C