KOREA OFFICE FY 15 ANNUAL REPORT - World Bankpubdocs.worldbank.org/.../WBG-Korea-AR-2015.pdfThe WBG...

KOREA OFFICE

FY 15 ANNUAL REPORT

KOREA OFFICE

Africa Region AFR

Consumer News and Business Channel CNBC

Country Director/Country Manager CD/CM

Country Office CO

Cross Cutting Solution Areas CCSAs

East Asia and Pacific Region EAP

Europe and Central Asia ECA

Global Practices GPs

Headquarters HQ

Human Resources HR

Information and Communication Technology ICT

Information Technology IT

International Bank for Reconstruction and Development IBRD

International Development Association IDA

International Finance Corporation IFC

Korea Development Bank KDB

Korea Exchange Bank KEB

Korea EXIM Bank KEXIM

Korea South-East Power KOSEP

Korea Trade-Investment Promotion Agency KOTRA

Korea Water Resources Corporation K-Water

Ministry of Land, Infrastructure and Transport MOLIT

Ministry of Strategy and Finance MOSF

Ministry of Trade, Industry and Energy MOTIE

Multilateral Investment Guarantee Agency MIGA

Program Manager PM

Public-Private Partnerships PPP

Science and Technology Policy Institute STEPI

Science, Technology and Innovation STI

Seoul Broadcasting System SBS

South Asia Region SAR

State University of New York SUNY

United Nations Education, Scientific and Cultural Organization UNESCO

Wall Street Journal WSJ

World Bank WB

World Bank Group WBG

Abbreviations and Acronyms

ContentsFY15 Summary _________________________________________________________________________2

Background _____________________________________________________________________________3

Component One Knowledge Sharing __________________________________________________3

a) Outbound Knowledge Sharing: From Korea to the World ________________3

b) Inbound Knowledge Sharing: From the World to Korea __________________5

Component Two Business Opportunities within the WBG ___________________________6

Component Three Outreach & Partnerships __________________________________________8

a) Stakeholder Engagements _______________________________________________8

b) WBG Korea Office Establishment & Operations _________________________9

Conclusions ____________________________________________________________________________10

Annex 1 - Korean Partners to WBG Programs (excl. private sector) ____________________ 11

Annex 2 - WBG Korea Office Media Engagements Summary (Valid as of February, 2015) ____12

Annex 3 - WBG Korea Office Accomplishments (September 1, 2014 – June 30, 2015) ___________13

Abbreviations and AcronymsFY15 ANNUAL REPORT

02 FY15 ANNUAL REPORT

FY15 Summary

Platform for Knowledge

- Over 600 participants to 'Korea Week 2015' and 'Business Opportunities within the WBG' Workshop- Over 15 Korean institutions connected to WBG units- 4 WBG reports to advise Korea's development challenges Private Sector Engagements

- 7 projects, totaling over US$3.5 billion, financed by IFC- 1 project, worth US$83 million, guaranteed by MIGA with 4 additional projects ongoing for approval

Outreach & Partnerships

- Over 5 Public/Student Engagements- 42 Media Engagements- Exposure of staffs to global training programs

2015 marks the 60th anniversary of the deep partnership between the WBG and Korea, since Korea joined IBRD in 1955. From Korea Week and 60 Years of Partnership Timeline to media engagements by senior management, the WBG Korea Office made significant developments and achievements in reaching out to the Korean development practitioners and public. As a global institution, interactions and concrete partnerships with international communities have been utilized, ones that have leveraged Korea’s unique development experience.

60 Years ofPartnershipCelebration(1955-2015)

03FY15 ANNUAL REPORT

World Bank Group (WBG) Korea OfficeFY15 Annual Report

September 1, 2014 – June 30, 2015

The first operational year of the WBG Korea Office has been characterized by establishing office operations and leveraging partnerships to organize events and devise analytical products that have been driven from demand by local clients and internal WBG units. In addition, year 2015 marks a focal point of the WBG-Korea partnership, celebrating the 60th anniversary since Korea joined the IBRD in 1955. As such, the WBG Korea Office has focused on strengthening and deepening the partnership, initiated by Korea Week 2015 – Retrospect and Prospect, a weeklong conference in Songdo.

This report focuses on implementation of 3 components: i) Knowledge Sharing, ii) Business Opportunities within the WBG, and iii) Partnerships & Outreach.

Background

1 4 side events include: i) International Tax Conference for Development and Growth, WB-Korea Development Forum, ii) WBG 2nd Annual Korea Green Innovation Days – Leveraging Green Growth for Climate Change Action, iii) Perspectives on Economic Transitions, and iv) Governance of State-Owned Enterprises (SOE): State Oversight and Performance Monitoring in East and South Asia

Component One – Knowledge Sharing

a) Outbound Knowledge Sharing : From Korea to the WorldThe WBG Korea Office is built on the 60 years of partnership between the WBG and Korea, strategically utilizing Korea’s unique development experience. Outbound knowledge sharing focuses on disseminating Korea’s experience, using WBG’s global and local presence.

ActivitiesKorea Week 2015 – Retrospect and Prospect. A weeklong conference was held in Songdo, co-hosted with MOSF, (June 1, 2015 – June 5, 2015) to celebrate the 60 years of partnership and facilitate innovative partnerships between the WBG units and Korea institutions, which attracted over 400 participants. The event showcased WBG programs in partnership with Korea through plenary, thematic sessions, and 4 side events1. Korea Week attracted participants from a wide range of organizations including 12 representatives from embassies, 13 representatives from international organizations, 16 representatives from developing countries and over 70 representatives from Korean private sector firms. Internally, within the WBG, 2 vice presidents opened the plenary sessions with more than 8 senior directors and directors present. This provided an opportunity to not only promote the office but also Korea’s unique development experience within the WBG and globally.


WBG-Korea Partnership Factsheet. As an exercise to identify the overall partnership between the WBG and Korea, the first one of its kind, the factsheet recorded over 20 partnerships and programs that are currently ongoing, valid as of February 2015. Collaborating with key WBG units including GPs/CCSAs, the partnership with over 50 Korean institutions covered 12 GPs and 4 CCSAs, focusing on beneficiary regions of East Asia Pacific and South East Asia (as for the full list of Korean partners, identified, please refer to the annex 1 - Korean Partners to WBG Programs (excl. private sector)). From the WBG-Korea Partnership Factsheet, the office identified the sectors that WBG units were most actively engaged in, including Transport & ICT, Urban, Education and Finance & Markets.

Comprehending the sectors where Korea has comparative advantages was significant in that the WBG Korea Office plans to leverage Korea’s expertise in outbound knowledge sharing with focus on these sectors through enhanced cooperation with GPs and CCSAs.

Connecting Korean Institutions to WBG Units. The office, throughout FY15, found significant demand from the WBG units and developing countries that aspire to understand and learn from Korea’s development experience. The office facilitated connecting leading Korean institutions to WBG programs. Through collaborative efforts, there has been progress in joint research and successful opening of international conferences.

›› Korea Week Participants by GroupCategory Numbers Ratio

External

Press

Speaker

VIP

World Bank Group

(58.29%)

(2.44%)

(10.24%)

(8.29%)

(20.73%)

Total 410

Urban

Transport & ICT

Education Finance &Markets

239

10

42

34

85


›› Select Examples of Liaison ActivitiesNo. Requests (from) Institutions Connected

1 Pacific Possible Initiative (WBG)Korea EXIM Bank; Korea Labor Institute; Ministry of Oceans and Fishery; Ministry of Sports, Culture and Tourism

2International Conference on STI and Development (STEPI)

Transport & ICT GP

3 Finance & Markets GPBank of Korea; Financial Supervisory Service; Korea Institute of Finance; Korea Capital Markets Institute

4 Public-Private Partnerships CCSA Ministry of Land Infrastructure and Transport

5 Health GP National Health Insurance Service; Ministry of Health & Welfare

6 Trade & Competitiveness GPKorea Development Institute; Korea Trade Promotion Agency; Ministry of Trade, Industry and Energy

Roundtable with Young Entrepreneurs. The informal discussion between Jim Yong Kim, WBG President, and over 20 young entrepreneurs of Korea took place to provide an open-unstructured forum to exchange ideas. The office identified and created a network of the entrepreneurs to encourage investing in developing countries and was positioned as a potential partner in future business developments.

nbound Knowledge Sharing: From the World to Korea

b) Inbound Knowledge Sharing: From the World to KoreaThe WBG is a global institution with over 130 country offices. The focus of inbound knowledge sharing is to provide Korea with in-depth knowledge and world class research that will serve as the foundation for policies and strategy.

Activities WBG Reports – Global Knowledge to Korea. WBG reports on key sectors of Korea’s interest include: i) Ageing in East Asia and Pacific, ii) Global Economic Prospects and iii) Urbanization in East Asia and Pacific, of which, the latter two have been published through the Korean media. For the ageing report, the WBG Korea Office is coordinating with internal units to launch the report near to the end of 2015.

World Education Forum. As the world’s largest forum on education, the WBG Korea Office facilitated the visit of the WBG President and representatives of the Education GP to share global research and guide policy direction, promoting Korea in the global field of education. Co-hosted by the Ministry of Education, Korea, and UNESCO, the forum hosted government ministers from over 100 countries to devise the ‘Incheon Declaration’. From logistical support to coordination with related organizers, the WBG Korea Office contributed to the overall framework of the event.


Component Two – Business Opportunities within the WBGThere has been an increasing interest from the Korean firms to participate in business opportunities within the WBG. From procurement to services provided by IFC and MIGA, the WBG Korea Office organized and hosted events that encouraged understanding of how the Korean private sector can partner with the WBG in their business plans.

Activities Business Opportunities within the WBG Workshop. Co-hosted with Korea EXIM Bank (KEXIM), the workshop provided detailed knowledge on procurement opportunities and services provided by IFC and MIGA. From guidelines to preparation of procurement, the WBG Korea Office invited Elmas Arisoy, East Asia & Pacific procurement manager, to provide guidance on how Korean firms can further be a business partner to the WBG. With over 200 participants from the Korean private sector, the overall feedback was very positive with further requests for sequential workshops. The WBG Korea Office plans to continue hosting the workshops, incorporating the comments and evaluations from the first workshop.

The participants have responded that the delivered information during the workshop was extremely useful for future opportunities with the WBG. The overall ratings of each session were positive and the attendees indicated that they were satisfied with the workshop but they would like to hear and learn from Korean firms that were successful in procurement opportunities.

›› Feedback from the Workshop

IFC – Partnership with Korea. IFC has actively promoted and developed partnerships with Korean enterprises looking to invest in emerging markets. Since 1969 to date, IFC invested around $4.0 billion for its own account and mobilized another $6.5 billion in over 100 projects helping Korean entities expand in developing countries.

PERC

ENTA

GE

100

80

60

40

20

01 2 3 4 5 6 7 8

SESSIONS (7 AND 8 REFER TO OVERALL EVALUATION SCORE)

8580 81

86

77

8592

88

1915 17

1419

148

12

SatisfactoryNeutralUnsatisfactory

000 021 14


›› FY15 Committed Projects with Korean Entities

No. Project Country Description Sponsor/EPC/BankProject Size (USD Millions)

IFC (USD Millions)

1 Hana Rights Issue IndonesiaEquity in KEB Hana Indonesia

KEB Hana Bank Rights Issue Equity:10

2 Gulpur Hydro Pakistan102 MW hydro power plant

Korea South East Power, Daelim, Lotte, Kexim

365Debt:60B Loan:70

3 China Gas China Gas DistributionSK E&S, KDB, KB Bank, Shinhan, Woori

1000Debt:143B Loan:357

4 ACWA Kirikkale Turkey928 MW gas power plant

Samsung C&T, Kexim, KDB

1000Debt:125B Loan:45

5 Arabia One Solar Jordan10 MW solar power plant

Hanwha E&C 30Debt:10.6B Loan:10.6

6 Adana Health TurkeyIntegrated health campus

KDB 470Debt:46.16B Loan:35.7

7 Panca Amara Utama Indonesia2,000 MT/ day gas plant

KDB 800Debt:94B Loan:415

MIGA – Partnership with Korea. Since the establishment of the institution in 1988 when Korea acquired membership as a founding member, two deals have been completed until 2012. MIGA Korea Office recently delivered a new project in FY15. Moreover, MIGA has 4 ongoing projects which may be approved subject to due-diligence, internal and board approval. At the business development stage, there are 10+ projects in the pipeline, showing progress and expansion in programs and its presence.

›› Delivered

No. Project Host CountryGuaranteeAmount (USD mil)

Guarantee Holder Year

1 Lukoil Gas Development Uzbekistan 120 BNP Paribas (KDB) 2012

2 Star Hydro Pakistan 149 K-Water, Daewoo 2012

3 Gulpur Hydro Pakistan 83 KOSEP, Daelim, Lotte 2015

›› Ongoing: Subject to Due-diligence, Internal and Board Approval

No. Sector RegionExpected Guarantee Amount (USD mil)

Guarantee HolderYear (Expected)

1 Health ECA 80 FI 2015/16

2 Extractive Industry AFR 110 FI 2015/16

3 Power SAR 120 SI 2016/17

4 Power AFR 200 SI 2016/17


Component Three – Outreach & Partnerships

a) Stakeholder EngagementsAn important role of the office is to promote Korea’s brand globally, both in terms of its human capital and development experience, internally within the WBG and externally. In this context, the office led various partnerships and programs to achieve this goal.

ActivitiesCooperation with International Organizations. Songdo currently houses 11 international organizations, each with its respective expertise and partners. The WBG Korea Office collaborated with other international organizations and local universities to establish the ‘International Organizations Network in Songdo’ in April 2015, attended by over 40 participants.

Senior Management Visits. FY15 marked several senior management visits for conferences and meetings. Key visits include: i) Jim Yong Kim, WBG President, ii) Axel van Trotsenburg, Vice President, East Asia and Pacific, iii) Joachim von Amsberg, Vice President, Development Finance (DFi), and iv) Keith Hansen, Vice President, Education GP. In addition, the World Bank Country Director for Korea visited Korea 4 times in the fiscal year to strengthen and deepen the partnership with the Korean government. Facilitating and leveraging these visits, the WBG Korea Office enhanced the visibility of Korea’s development experience and role as a growing donor internally within the WBG. Such advocacy also includes promotion of Korea in other WBG country offices.

Media Engagements. In all WBG Korea Office activities, media plays a critical role in promoting Korea within the WBG and the WBG Korea Office to the public. Through various methods of engagements, leveraging senior management visits, events and outreach activities, the office has continued to interact with the public as well as support global knowledge/reports being disseminated in Korea. A total of 42 media engagement plans and activities have been completed by the office. For details of media engagements, please refer to the Annex 2 – Media Engagements Summary.

›› Media Engagements in FY15

Media Activities

12

8

4

0No.

of r

elat

ed m

ater

ials

pu

blis

hed

Web Packages Global KnowledgeDisseminated

Op-ed CD/CMOutreach

Senior ManagementInterviews


Public/Student Engagement.The WBG Korea Office has worked with Korean partners to raise awareness on development issues by the public/students. As outlined in the establishment agreement, the office has proactively communicated with youths and the public to encourage their participation in development agenda as well as expanding the office’s reach and presence. Examples of forums/institutions where the WBG Korea Office gave lectures/speeches and hosting of the students include:

1. George Mason University 2. Women and Growth Potential Forum3. Hankuk University of Foreign Studies4. Yonsei University5. Ministry of Justice

b) WBG Korea Office Establishment & OperationsThe first operational year, like many other WBG country offices, is accompanied by challenges of establishing its infrastructure and recruitment to initiate its programs and activities. This requires not only coordination among the WBG units but also strong links with local vendors that will lead to long term partnerships. In addition, the WBG Korea Office promotes active development of local talent, to assist in training them to thrive in their given position. From its success, new WBG country offices have requested to learn from the WBG Korea Office’s experience.

ActivitiesCollaboration for Office EstablishmentWith inputs from the WBG units and local vendors including WBG IT support, the office became fully operational. Moving forward, devotion to strengthened relationships with vendors and supporting the local economy will be a priority of the WBG Korea Office.

WBG Customized Training.As of June 30th, the WBG Korea Office has 14 staffs onboard. For career development, there has been strong encouragement to expose local staffs to global training offered by the WBG. This includes visits from WBG HR Manager, Ombudsman, Country Survey Group representative as well as sending staffs to WBG training abroad in Bangkok, Beijing and Washington D.C.


›› Staffing Information – IBRD, IFC and MIGA

Referrals of Korean Nationals within the WBG.Korea boasts outstanding human capital who can contribute to solving the development challenges. Accordingly, the WBG Korea Office has developed and maintained a database of Korean nationals to refer for possible job opportunities in the WBG. Based on the successful cases of the referral, the WBG Korea Office further plans to promote Korea’s talent to the WBG.

ConclusionsOverall, the WBG Korea Office has made progress on each of the 3 components that drive comparative advantages of the office. The WBG Korea Office is unique in that it carries out both programs and liaison activities, in comparison to many other donor offices that focus on either of the two. The first operational year has been successful in terms of establishment, expanding networks, and responding to the demand by WBG units and local partners.

Key lessons from the 1st operational year include:

1. WBG and Korean partners can broaden and deepen mutual understanding of respective agencies’ operations and practices.

2. There is scope to focus on key sectors/areas of Korea’s comparative advantage for knowledge sharing.3. Channels to further connect the Korean private sector with opportunities within the WBG can enrich the

partnership.4. Engagements with the public, media, and international organizations are seen as key to raising awareness on

current development issues, and Korea supported WBG programs and partnerships.5. Onboarding to the WBG organizational culture and systems is a gradual process.6. WBG training and exposure to networks have space to scale up for staff to increase their professional development.

Moving forward, the WBG Korea Office has consulted with MOSF in developing a shared vision as well as the Implementation Plan during the workshop on August 28th, 2015. Based on the Implementation Plan with country indicators, the WBG Korea Office will coordinate with internal units and development partners to expand activities based on the 3 components of comparative advantage for the office.

Female

Male

10

5

0IBRD MIGA IFC

6

4

11

2


Annex 1 - Korean Partners to WBG Programs (excl. private sector)

No. Organization

1Korea Education Research & Information Service

(KERIS)

2 Bank of Korea (BOK)

3Health Insurance Review and Assessment Service

(HIRA)

4Human Resources Development Service of Korea

(HRD Korea)

5Institute of Information Technology Advancement

(IITA)

6 KDI School

7 KEMCO New & Renewable Energy Center (NREC)

8Korea Advanced Institute of Science and

Technology (KAIST)

9 Korea Capital Market Institute (KCMI)

10 Korea Development Institute (KDI)

11 Korea Energy Management Corporation (KEMCO)

12 Korea EXIM Bank (KEXIM)

13 Korea Financial Intelligence Unit (KoFIU)

14 Korea Highway Corporation (KHC)

15 Korea Industrial Complex Corporation (KICOX)

16Korea Information Society Development Institute

(KISDI)

17 Korea Institute of Finance (KIF)

18 Korea Institute of Public Finance (KIPF)

19 Korea Land and Housing Corporation (LH)

20 Korea National IT Promotion Agency (NIPA)

21Korea Research Institute for Human

Settlements(KRIHS)

22Korea Research Institute for Vocational Education

& Training (KRIVET)

23 Korea Rural Economics Institute (KREI)

No. Organization

24 Korea Securities Depository (KSD)

25 Korea Transport Institute (KOTI)

26 Korea Water Resources Corporation (K-Water)

27 Korean Communication Commission (KCC)

28 Korean e-Procurement System (KONEPS)

29 Korean International Cooperation Agency (KOICA)

30 LX Corporation

31 Ministry of Education (MOE)

32 Ministry of Health and Welfare (MOHW)

33Ministry of Land, Infrastructure and Transport

(MOLIT)

34 Ministry of Strategy and Finance (MOSF)

35 National Emergency Management Agency (NEMA)

36 National Health Insurance Service (NHIS)

37 National Information Society Agency (NIA)

38 National Institute of Health (NIH)

39 National Pension Service (NPS)

40 Seoul Institute (SI)

41 Seoul Metropolitan Government (SMG)

42 Seoul National University (SNU)

43 Statistics Korea (KOSTAT)

44Sudokwon Landfill Site Management Corporation

(SLC)

45 SUNY Korea

46World e-Governments Organization of Cities and

Local Governments (WeGO)


Annex 2 - Valid as of February, 2015

4 Senior Management Visits

• VisitbyJimYongKim,President,inNovember,2014– prepared media plan, media engagements, talking points, media monitoring report.

• VisitbyJimYongKiminMay,2015–preparedmediaplan, media engagements, talking points, media monitoring report.

• VisitbyAxelvanTrotsenburg,VicePresident,inJune,2015 – prepared media plan, media engagements, talking points, media monitoring report.

•VisitbyKeithHansen,VicePresident,inMay,2015- prepared media engagement.

5 Web packages published (results profiles, features)

• Updatedpressrelease,featurestoriesandwebpackageon the website about Jim Yong Kim visit to Korea, Korea office 1st year anniversary, Bank of Korea Governor’s visit.

• Updatedpressrelease, featurestoriesandwebpackage on the website about “Business Opportunities within the World Bank Group” workshop.

•Updatedpressrelease,featurestoriesandweb package on the website about “Korea Week 2015”.

8 Global/regional knowledge products disseminated

• TranslatedanddisseminatedpressreleasesaboutBank’s flagship knowledge products such as Doing Business 2015; Global Economic Prospect 2015; East Asia Urban Report and ensured news coverage in Korea’s key media outlets.

• TranslatedanddisseminatedpressreleasesaboutGlobal Economic Prospect 2015 (January); Urbanization in East Asia and ensured news coverage in Korea’s key media outlets.

• TranslatedanddisseminatedpressreleasesaboutEAP Economic Update; Global Education Financing; Global Economic Prospect 2015 (June) and ensured news coverage in Korea’s key media outlets.

8 Op-eds placed

• JimYongKimop-ed(SharedProsperity:AGoaltoReduce Inequality) placed in The Korea Herald, and The Korea Economic Daily.

• AxelvanTrotsenburgop-ed(EastAsiaUrbanization)placed in The Korea Herald.

• JimYongKim,President,educationspeechtranslatedand disseminated.

• AxelvanTrotsenburgop-ed(EastAsiaUrbanization)placed in The Korea Herald.

• JimYongKim’sop-ed(Finalpushtoendextremepoverty) placed in The Korea Herald.

• PresidentJimYongKim’sop-ed (Welcomingnewpartners to fight an old enemy) placed in The Maeil Economic Daily.

• FormerKoreanFinanceMinisterHyun’sop-edonthe60 year partnership placed in The Maeil Economic Daily.

7 Proactive CD/CM outreach (op-eds, print interviews, broadcast interviews, online outreach, blogs, etc.)

•JoyceMsuya,SpecialRepresentative,interviewwith TBS efm.•ElmasArisoy,EAPRegionalProcurementManager, interview with The Construction Economy Daily.•JoyceMsuyainterviewwithArirangTV.•JoyceMsuyainterviewwiththeMinistryofJustice Magazine.

10 Senior Management Interview

•JimYongKim’sinterviewwithWSJ,ChosunIlbo, Reuters during his visit in November, 2014.•JimYongKim’sinterviewwithChosunIlbo,CNBC, and Yonhap News during his visit in May, 2015.•AxelvanTrotsenburg’sinterviewwithKoreaHerald, Chosun Ilbo, and Arirang TV.•KeithHansen’sinterviewwithKoreaEconomicDaily.

WBG Korea OfficeMedia Engagements Summary


Annex 3 - WBG Korea Office Accomplishments September 1, 2014 – June 30, 2015

Program/Partnership

Description & Events/Activities

Objectives Target Audience

Local Partners/Clients

Achievements/Comments

Knowledge Sharing (Outbound and Inbound)

Korea Week 2015 – Retrospect and Prospect

A weeklong conference in celebration of 60 years of partnership between the WBG and Korea, and created a package of promotion materials to disseminate to country offices and internal WBG units (June 1-5, 2015)

• Celebrate 60 years of strong partnership between the WBG and Korea, and showcase WBG programs in partnership with Korea through plenary, thematic sessions, and 4 side events.

• Collaborate with Korean institutions to enhance partnership and devise concrete future directions of the partnership.

• Engage with the public on raising awareness of developed issues and WBG recruitment.

Representatives of Korean institutions, private sector firms, and the general public who are interested in international development

Ministry of Strategy and Finance (MOSF; Co-host), Major Korean institutions as thematic partners under specific sectors of the conference

The conference attracted over 400 participants including representatives from Korean institutions, WBG internal units, country delegations, heads of international organizations and ambassadors. It provided a platform to disseminate Korea’s unique development experience through the WBG and also gave opportunities to discuss new partnerships within specific sectors. In addition, the public engagement day provided a chance for students to discuss and network with WBG representatives. The package of promotion materials, including the ’60 Years of Partnership Timeline’, has been cited as an example of best practices and has been disseminated to WBG country offices around the world.

Business Opportunities within the WBG

One day workshop organized for representatives of Korean firms (April 2, 2015)

• Introduce and provide guidelines for Korean firms to participate in the World Bank procurement process/bidding.

• Introduce outline of works and provide potential engagement opportunities with IFC/MIGA.

Representatives of Korean private sector firms and consultants looking to expand their business with the WBG

Korea Exim bank (KEXIM; Co-host)

The WBG Korea Office invited internal procurement experts and hosted over 200 participants from Korean firms. As private sector involvement is considered critical in achieving the twin goals of the WBG, the office plans to continuously engage with local companies and host workshops in the future based on the positive feedback and demand from local firms.

Connecting Korea to WBG Units

Connected WBG GPs/CCSAs and country offices to local partners for concrete deliverables and provide on-site support (Ongoing)

• Share the comparative advantages of the WBG with Korean institutions.

• Connect WBG units to Korean expertise for dissemination of Korea’s development experience.

Development professionals and country clients of the WBG

Korea Labor Institute (KLI), Ministry of Foreign Affairs (MOFA), Korea International Cooperation Agency (KOICA), Science and Technology Policy Institute (STEPI)

As a WBG office, hosting World Bank, IFC, and MIGA, Korea office has been effective in connecting the WBG units (GPs/CCSAs, country offices) to Korean partners. For programs and events carried out by the WBG units, such as ‘World Education Forum’, ‘Pacific Possible Initiative’, ‘International Conference on STI and Development’, and requests by Finance & Markets GP, Public-Private Partnerships CCSA, the office facilitated connection with appropriate counterparts for partnership and also provided onsite support for efficient operations.


Roundtable with Young Entrepreneurs on ‘Innovation for Creative Economy in Korea’

An informal roundtable discussion with Jim Yong Kim, WBG President (November 5, 2014)

• Encourage young entrepreneurs of Korea to expand their business vision to developing countries.

Young entrepreneurs in Korea looking to expand to developing countries

N/A The roundtable discussion between the WBG President, Jim Yong Kim, and young entrepreneurs of Korea took place to provide an open-unstructured forum to exchange ideas where Korea Office was positioned as a potential partner for entrepreneurs looking to invest in developing countries.

Knowledge Development

WBG-Korea Partnership Factsheet

Created an extensive report on the partnerships and programs between the WBG and Korea (February 10, 2015)

• Identify and compile the partnerships and programs that the WBG is currently carrying out in partnership with Korean institutions.

• Probe for future directions of partnerships and programs.

Internal WBG units and members of the WBG Korea Office

N/A The information has been collected in close collaboration with different WBG units. The WBG Korea Office has recorded 20 programs that are currently ongoing in partnership. The office plans to utilize this resource to identify where partnerships can expand as well as strengthening the existing partnerships.

WBG Korea Office Business Plan FY 16-17

Currently in the process of devising a business plan that incorporates the twin goals, and vision of the Korea Office (Ongoing)

• Create an office wide vision and plans for activities and engagements for the upcoming fiscal years.

• Cooperate as ‘one WBG’ to leverage on the presence and expertise of WBG units in Korea Office for collaborative efforts.

Internal WBG units and members of the WBG Korea Office

N/A The office is currently in the process of developing its initial business plan. Its initial strategic aims are:1. Utilize Korea’s unique

development experience through innovative partnership and knowledge sharing,

2. Strengthen engagement and communications with development partners and stakeholders,

3. Promote private sector participation.

Partnership Building and Outreach (International and Domestic)

Senior Management Visits to Korea

Hosted senior staffs of the WBG coming to Korea (Ongoing)

• Promote strategic engagements between the WBG and Korea, and advocate Korea’s role as a donor within the institution.

N/A Ministry of Strategy and Finance (MOSF)

Senior management visits, since the office was established in 2013, include: i) Jim Yong Kim, President; ii) Axel van Trotsenburg, Vice President; iii) Joachim von Amsberg, Vice President; iv) Keith Hansen, Vice President. In addition, the presence of senior directors and internal staffs have strengthened the position of Korea internally within the institution. The office will continue to encourage strategic visits for concrete deliverables and improve the positioning of Korea in the international society.

Program/Partnership






Cooperation with International Organizations

Established and in the process of expanding a network of international institutions in Songdo in partnership with SUNY Korea (Ongoing)

• Leverage the concentrated presence of international institutions in Songdo to disseminate Korea’s development experience and lessons.

• Share knowledge, experience, and expertise through the network for synergy in deliverables.

N/A Green Climate Fund (GCF), UN Agencies, Global Green Growth Institute (GGGI)

Through coordination with SUNY Korea, the international community in Songdo established the ‘International Organizations’ Network in Songdo’. The network provided a platform to expand its strategic partnerships for the WBG Korea Office. Moreover, in carrying out its operations, the office has communicated with international organizations in Korea to effectively share Korea’s development experience to the international society.

Public/Student Engagement

Provided public lectures and networking opportunities for students and public (Ongoing)

• Raise public awareness and create opportunities to interact on international development issues.

• Promote and provide learning opportunity on the vision and role of the WBG and Korea Office.

Students and general public who are interested in international development and working in the WBG

Hankuk University of Foreign Affairs (HUFS), Global Campus Songdo

Representatives from the WBG Korea Office has communicated with local universities for public lectures, career fairs, and networking opportunities for students and the public. Lectures were held at HUFS, George Mason University.

Media Engagement

Arranged media interviews for the WBG senior staff, and placed op-eds and press releases (Ongoing)

• Showcase Korea-related WBG portfolios by disseminating relevant knowledge products of the WBG’s operations units to the local client groups.

• Convey the WBG’s global vision and activities to the Korean public while raising the personal profile of the WBG’s senior management

International audience, private and public sector opinion leaders, and Korean taxpayers

Leading media outlets such as Chosun Ilbo, Maeil Economic Daily, Korea Herald, Yonhap News, SBS, Arirang, WSJ, and Associated Press

Korea’s leading print and broadcast media outlets have carried interviews, op-eds, and press releases on the bank’s global, regional and national level activities and key achievements. Communications engages as a cross-cutting support to promote major events of the WBG in Korea.

Program/Partnership






Office Establishment and Operations

Establishment and Expansion of Office Operations

Established office operations and systems, and supported team members’ training, and hosted diverse WBG units including Finance & Markets GP and Leadership, Learning & Innovation (LLI) (Ongoing)

• Cooperate with local businesses to develop the infrastructure and services of the office.

• Expose office members (Korean nationals) to global network and training opportunities that the WBG offers.

N/A Local Vendors Since Korea Office became operational, it has continued to support and collaborate with vendors in Songdo to effectively manage office operations. Internal units and vendors have contributed in establishing office systems and IT support. Moreover, for new local staffs, the office provides continued support for career and skills development including trainings and hosting visits from senior HR staffs including Geremie Sawadogo, Manager of Talent Acquisition and Davide Bonzano, Senior Manager of Client Services.

Referral of Korean Nationals within the WBG

Created a database of qualified Korean nationals for referrals (Ongoing)

• Support Korean nationals to potential opportunities within the WBG and nurture future development experts.

N/A N/A Korea Office has referred local candidates to recruitment opportunities within the WBG internationally. The office plans to assist capable Korean nationals as development practitioners who, in the long term, can contribute to international development and achieve the twin goals.

Private Sector Participation

International Finance Corporation (IFC)

Co-hosted several events including: i) ‘WBG Partnering with Korea’s Private Sector in Developing Countries’; ii) Outreach programs to Korean firms including K-Sure, Hyundai E&C, LG CNS. iii) Speaking in various events hosted by Korean entities such as International Contractors Association of Korea, Barclays, KOTRA, KEXIM (Ongoing)

• Engage and encourage Korean private sector investment into developing countries by providing financing and sharing local country/company knowledge and networks.

• Strengthen partnerships with Korean firms and raise awareness on the challenges/opportunities of investing into developing countries.

N/A Private and State owned entities such as Hanwha E&C, Samsung C&T, Korea South East Power, Daelim, Lotte, Korea Southern Power, KEB Hana Bank, Shinhan Bank, KEXIM, Korea Development Bank MOSF, MOTIE, MOLIT.

IFC Korea office’s recent developments with Korean sponsors in FY15 include the following:- Arabia Solar One (US$ 11M A,

US$ 11M B loan), a 10 MW solar IPP in Jordan by Hanwha E&C and Ennera, committed in Sep 2014.

- Kirikkale (US$ 125M A, US$ 45M B loan), a 950 MW gas power plant in Turkey by Acwa and Samsung C&T, committed in Dec 2014.

- Gulpur Hydro (US$ 60M A, US$ 70M B loan), a 100 MW hydro power plant in Pakistan by Korea South East Power, Daelim and Lotte E&C consortium, committed in May 2015.

Program/Partnership






Multilateral Investment Guarantee Agency (MIGA)

Co-hosted seminars/conference in partnership with Korean institutions including: i) ‘WBG Partnering with Korea’s Private Sector in Developing Countries’; ii) ‘Investing in Emerging Markets: Tri-party Cooperation among Investors, Financiers and the Public Sector’; and iii) Outreach programs to Korean firms including K-Sure, Hyundai E&C, LG CNS (Ongoing)

• Encourage Korean private sector investment into developing countries by providing political risk guarantees.

• Strengthen partnerships with Korean firms and raise awareness on the challenges/opportunities of investing into developing countries.

N/A Private and State owned entities such as Daewoo E&C, Daelim, Lotte, Korea Development Bank, K-Water, Korea South East Power, Korea Southern Power

MIGA Korea Office has closed a guarantee contract (total guarantee amount: $82.7 million) with Korea South East Power, Daelim Industrial, and Lotte E&C for their equity investments in US$ 370M Gulpur Hydro Project in Pakistan.

In addition, MIGA Korea Office is in the process of underwriting for 3 projects (FY 16-17), which are:- US$ 120M Upper Trishuli

Hydropower Project in Nepal- US$ 2B Refinery Project in

Gabon- US$ 790M Gaziantep PPP

Hospital Project in Turkey* The final decision on support

is subject to MIGA internal and board approval.

Staffing:- As part of the ongoing corporate

restructuring, MIGA has decided to discontinue the position of analyst in the MIGA Korea office as of October 1, 2015.

Program/Partnership





WORLD BANK GROUP KOREA OFFICE37F. POSCO E&C Tower 2, 241, Incheon tower-daero, Yeonsu-gu, Incheon, KoreaTel: 82-32-713-7000 Fax: 82-32-713-7040http://www.worldbank.org/korea

FY 15 ANNUAL REPORT

KOREA OFFICE FY 15 ANNUAL REPORT - World Bankpubdocs.worldbank.org/.../WBG-Korea-AR-2015.pdfThe WBG...

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Transcript of KOREA OFFICE FY 15 ANNUAL REPORT - World Bankpubdocs.worldbank.org/.../WBG-Korea-AR-2015.pdfThe WBG...