Home MMBIZ News South Korea Jumps into Rural Development Fray

South Korea Jumps into Rural Development Fray

The Korea International Cooperation Agency (KOICA) will launch two development projects aimed at reducing rural poverty.

A Myanmar Development Institute will be established with the purpose of building capacity and improving work efficiency of the rural Myanmar population, state-run media reported.

Additionally, a five-year project named Saemaul Undong will work to reduce the poverty gap between the rural and urban populations.

The program is expected to benefit 100 villages in in Nay Pyi Taw, Yangon, Tanintharyi, Ayeyawaddy, Mandalay, Sagaing regions and Shan state.

South Korea has been involved in Myanmar’s development in the past, with projects in two villages, with plans for more projects totaling $22 million, according to the Ministry of Agriculture and Irrigation.

Myanmar exported $353 million worth of goods to South Korea in 2013-14 fiscal year and imported $1.57 billion, official data shows.

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