Report urges international financial bodies to hire more South Koreans

Major international financial bodies have fewer South Korean employees compared to the country's contributions to their budgets, a report showed Monday, raising the necessity to promote employment of local professionals. The World Bank, which provides loans to developing nations, currently employs 52 South Koreans, accounting for only 0.35 percent of all its employees, the report by the Ministry of Strategy and Finance submitted to parliament showed. The number lags behind in comparison to South Korea's contribution to the bank, which takes up 1.4 percent, or 2.8 trillion won (US$2.61 billion) of the bank's budget, the report added. South Korea also accounts for 8.8 trillion won, or 5.03 percent of the Asian Development Bank's budget, but the bank only employs 54 South Koreans, which accounts for only 1.77 percent of the entire staff. The European Bank for Reconstruction and Development and the African Development Bank also employ fewer South Korean workers compared to the portion of the country's presence in their budgets, the ministry added. The International Monetary Fund, meanwhile, held the highest portion of South Korean staff at 1.12 percent, hovering near the country's contribution of 1.41 percent to its budget plan. The ministry added it plans to make efforts to have more South Koreans employed at international bodies, which includes hosting a job fair specialized at international financial bodies.