This study compares and analyzes the status of foreign aid policies of each past government from the Roh Tae-woo administration to the Lee Myung-bak administration. The international environment and the environment for international development cooperation of each government is compared. In addition, the foreign policy stance of each government is suggested and analyzed in terms of its coherence with the direction of foreign aid policy. Through the comparison and analysis, this study finds out the characteristics of foreign aid policies and presents the way in which specific policies were enforced.