Seoul, December 28th : .South Korea will be the ninth largest contributor to UN regular and peacekeeping budgets next year, according to Tuesday’s Foreign Ministry statement.According to Yonhap News Agency, the UN General Assembly approved December 24 the budget obligations of 193 member countries.South Korea was allocated 2.57 percent of total funding for 2022-24.
This ratio rose from 2.27 percent for the 2019-21 time period to move the country up two places from its current position of 11th.
According to the Ministry, South Korea’s contribution in assessed tax was increased in the next three years in accordance with the country’s economic growth.
The complex formula used to calculate the UN’s budget obligations is based on gross national income as well as population.
In the coming three years, the top two global financial contributors will be the USA and China.
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