Korea Stingiest in Helping Developing Nations

South Korea is the stingiest country among the world’s 22 most wealthy nations, doing the least in helping the developing countries, a report released Saturday said.

The Washington-based Center for Global Development ranked Korea at the bottom in the 2008 Commitment to Development Index, Dong-a Ilbo reported Saturday quoting Bloomberg

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Korea is running a very small number of overseas aid programs, has higher export barriers to developing countries, and allows a limited number of unskilled workers from poor countries, the think tank said.

Japan came as the second worst country. The report said its assistance fails to match its economic size and it imposes excessive restrictions on immigration and imports.

The United States finished 17th due to its involvement in Afghanistan, Pakistan and Iraq.

David Roodman, a senior fellow at the center, said the U.S. foreign aid system is in tatters and outdated and needs a sweeping overhaul.

The center’s annual index assesses each country’s contribution to poor countries based on seven areas of government action: foreign aid, trade, immigration, technology, investment policy, environment and national security.