South Korea announced financial assistance for Ukraine on Tuesday totaling 520 billion won ($394 million), an increase of eight times over this year.
South Korea increases Ukraine aid: According to South Korea’s 2024 budget, the aid package consists of 130 billion won for rehabilitation, 260 billion won in humanitarian relief, and an additional 130 billion won through foreign organisations.
President Yoon Suk Yeol stated in July that his nation would offer a “large scale of military supplies” this year without providing any other information.
On Tuesday, Yoon also announced an increase in South Korea’s ODA from 1.4 trillion won to 2 trillion won ($1.51 billion) for strategic regions like the Asia-Pacific and Africa.
The Ministry of Economy and Finance stated in the budget release that the rise in overseas aid is a part of an effort to support South Korean businesses as they expand internationally, safeguard national interests, such as supply chains, and assume responsibility as a significant member of the international community.