Technical co-operation fund receives major boost from Republic of Korea
The Republic of Korea yesterday (17 March 2005) made a donation of more than US$400,000 to the IMO's Integrated Technical Co-operation Fund, which supports IMO's Integrated Technical Co-operation Programme (ITCP) activities. It also announced plans to increase its donations in the future, thereby continuing the country's active participation in IMO's technical co-operation activities.
A cheque was presented to IMO Secretary-General Efthimios E. Mitropoulos by the Republic of Korea's Minister for Maritime Affairs and Fisheries, Mr Keo-don Oh, who emphasised his country's firm, long-term support for IMO's important technical co-operation work. In thanking the Minister for his country's generous and exemplary contribution, the Secretary-General stressed the vital part played by technical co-operation activities in helping the Organization to achieve its overall aims.
In June 2003, the Republic of Korea signed a Memorandum of Understanding (MOU) with IMO on Technical Co operation and established a trust fund into which some US$700,000 had been transferred by 2004. The Trust Fund helps pay for the implementation of IMO's ITCP, supporting students at the World Maritime University, and for any other technical assistance activities agreed between the Republic of Korea and the IMO to help Member States to improve their ability to comply with IMO measures relating to maritime safety, maritime security and prevention and control of marine pollution.
The Republic of Korea has emerged in recent years as a leading country in the shipping, port, fisheries and shipbuilding industries and the Minister is keen to ensure that its contributions to IMO's technical co-operation activities reflect that status. The Ministry of Maritime Affairs and Fisheries (MOMAF) was established in 1996 and has integrated marine-related functions that had previously been scattered among 13 other government agencies.