MUSCAT, DEC 17
The Korea-Oman Renewable Energy Business Roundtable and Knowledge Sharing Program (KSP) Kick-off Meeting highlighted Korea's commitment to fostering sustainable development through policy consultation and knowledge-sharing. Delivering a keynote address, Jun Sik Park, Deputy Director of Korea Trade-Investment Promotion Agency's (KOTRA) Frankfurt Office, detailed the structure and objectives of the KSP, emphasising its role as a platform for economic cooperation and policy innovation.
KSP, a knowledge-driven economic cooperation initiative, is designed to share Korea's development experiences with partner countries' policymakers. "The vision of KSP is to build economic cooperation and sustainable development with partner countries," Park stated. He underscored that Korea’s development models are adapted to local contexts, ensuring that solutions are tailored to meet the specific needs of partner nations like Oman.
The programme covers a broad spectrum of consultation areas, including infrastructure, export promotion, socio-economic development strategies, energy and green growth, ICT, financial services, and economic crisis management. "We share both best practices and various development experiences to offer the most relevant policy solutions," Park explained.
KSP's implementation relies on three key Korean agencies: the Korea Development Institute (KDI), responsible for socio-economic policy development; KOTRA, managing investment-focused projects; and the Korean Export-Import Bank, facilitating financial partnerships with multilateral development banks like the World Bank. Since 2014, KOTRA has conducted 83 projects in 36 partner countries, expanding its outreach to developed nations like Spain and the UK.
Park outlined the KSP policy consultation cycle, which spans eight to ten months and includes five key stages: demand submission, workshops, field studies, policy training in Korea, and a final high-level policy dialogue. Monitoring and evaluation are integral to the process, ensuring quality and relevance through continuous expert assessments from both Korea and partner countries.
Interested government ministries, including Oman’s Ministry of Energy and Minerals, can apply by submitting a project concept paper through the Ministry of Treasury, responsible for Official Development Assistance (ODA). Applications are reviewed by Korea's Ministry of Economy and Finance, with accepted proposals commencing within two years.
Park encouraged Omani policymakers to explore KSP's official platform, ksp.go.kr, to access a wealth of successful case studies. "Our aim is to create sustainable, context-specific solutions through active collaboration and shared expertise," he concluded.
The KSP initiative underscores Korea’s dedication to fostering global economic partnerships through policy innovation and collaborative growth, paving the way for enhanced energy cooperation between Oman and Korea.
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