A memorandum sets rules for a fund launched this year. Seoul plans projects in maritime security, climate response, fisheries and food security.
South Korea’s Foreign Ministry said on October 7 that it had signed a memorandum of understanding with the Indian Ocean Commission (IOC). The agreement establishes an operating framework for the Korea–IOC Cooperation Fund, launched in 2026, and is intended to support its effective use.
Under the agreement, Seoul plans joint projects in areas identified as priorities in the Indian Ocean region: maritime security, climate change response, fisheries and food security. The ministry also said it would strengthen monitoring and oversight of the projects.
The IOC comprises Mauritius, Madagascar, Seychelles and Comoros, with France represented through its overseas department of Réunion. South Korea participates as an observer, alongside Japan, China, India, the European Union, the United Nations and the International Organisation of La Francophonie.
Yonhap reported the memorandum citing South Korea’s Foreign Ministry. A government release confirmed that the agreement was signed on October 6 and sets out the fund’s management framework.