I'd like to elaborate a little more to the article below which is about the Green Climate Fund and its selection of South Korea as its headquarters.

The Green Climate Fund(GCF) was established at the 16th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change(UNFCCC) in order to adequately distribute some of the aid pledged by developed nations to poorer countries during previous UN sessions. Accordingly, its primary initiative is to contribute to the global efforts towards attaining the goals set by the international community (especially the UNFCCC) to combat climate change. The GCF promotes the paradigm shift toward low-emission and climate-resilient development pathways by supporting developing countries to limit or reduce their greenhouse gas emissions and to adapt to the impacts of climate change, taking into account the needs of those developing countries particularly vulnerable to the adverse effects of climate change.

The GCF is composed of a Transitional Committee with 40 members, and it has met 4 times in 2011. And in April 15th, 2012, parties to the UNFCCC were requested to submit expressions of interest for hosting the GCF and 6 expressions of interest were submitted and are as the following: Germany's Bonn, Mexico's Mexico City, Namibia's Windhoek, Poland's Warsaw, Republic of Korea's Songdo City, and Switzerland's Geneva. The proposed parties' locations as the host country were evaluated through an open and transparent process by the GCF's board, and were chosen by the endorsement by the Conference to the parties to the UNFCCC. And on the 20th, the GCF's board finally proposed South Korea as the headquarters of the fund.

One of the reasons why South Korea was selected as the host country was because Korea is able to work as a bridge between developed nations and developing nations. South Korea has achieved rapid economic growth to join the OECD. It was also the 9th nation to surpass 1 trillion dollars of annual trade volume. However, due to an unrealistically rapid development rate, it still lacks development in some categories, and one of them is environment. According to the definitions laid down by the 1992 U.N. climate convention, South Korea is still categorized as a developing nation.

The GCF's main !--object--ive is to raise the amount funded for climate change, which is about $10 billion a year, to an annual $100 billion from 2020 to help developing countries. However, there has been no discussion by the fund about how to raise $100 billion so far, and thus South Korea should strive to get all developed economies to get together to make pledges and devotions to the GCF.