On May 27, the Ministry of Economy and Finance (MOEF) and the World Bank held a Korea-World Bank Group Partnership Facility (KWPF) 2025 Global Forum: Innovation in Agriculture and Food Systems at the Park Hyatt Hotel in Busan.

This year’s forum was held under the theme of Innovation in Agriculture and Food Security, bringing together around 150 participants including officials from the World Bank’s Development Finance and Agriculture and Food Global Practices, representatives from seven developing countries (Vietnam, the Philippines, Mexico, Colombia, Kenya, Morocco, and Tanzania), as well as officials from Korean institutions such as the Ministry of Agriculture, Food and Rural Affairs, Rural Development Administration, Export-Import Bank of Korea, and National Information Society Agency.

Through this Forum, MOEF and the World Bank shared six best practices showcasing the application of Korea’s innovative technologies – such as digital and low-carbon agricultural solutions – in the field to seven developing countries, including Tanzania and Kenya. Building on these cases, Korea, the World Bank, and the partner countries aim to enhance trilateral cooperation in agriculture and food security. The event also featured a session introducing leading Korean agri-tech companies – Sherpa Space, Daedong, IoCrops, and Thankscarbon – to government officials from the participating countries.

Director General for Development Finance Moon Ji-sung delivered opening remarks at the forum, reflecting on the achievements of the KWPF to date and outlining future policy directions for its agriculture and food sector initiatives to promote sustainable agriculture in developing countries.

First of all, Director General Moon emphasized the significance of this year’s KWPF Global Forum, held under the theme of agriculture and food security, particularly amid declining agricultural productivity due to climate change. He also highlighted that the KWPF, Korea’s largest trust fund, has contributed $46.8 billion since its establishment in 2013, supporting 208 projects across 99 countries; through technical assistance projects in collaboration with various Korean institutions, the fund has actively contributed to improving agricultural productivity and advancing farm development in developing economies.

Second, Director General Moon also underscored the importance of collaboration between developing nations and Korean companies and institutions equipped with innovative agricultural technologies to ensure the sustainability of agriculture in these nations. He noted that Korea is a global leader in digital and low-carbon agricultural technologies – such as smart farms and climate-smart agriculture^* – and that expanding cooperation with Korean partners through the KWPF could significantly advance innovation in their agricultural sector.

^* Climate-smart agriculture refers to farming practices that utilize smart greenhouses and advanced agricultural machinery to reduce greenhouse gas emissions while improving productivity in response to climate change.

Director General Moon also took the opportunity of this event to hold the annual consultation meeting on co-financing between the Economic Development Cooperation Fund (EDCF) and the World Bank. This marked the second such meeting following the inaugural session held in Washington, D.C. in July last year, serving as an important platform to coordinate future directions of co-financing cooperation between the EDCF and the World Bank and to explore ways to bolster their partnership.

Please refer to the attached files.