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S.Korea becomes 21st member country of Paris Club Updated: 2016-07-01 23:11:49 KST

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2016-07-01

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Korea becomes the 21st member country of the Paris Club on Friday‚ alongside the U.S.‚Japan and Germany. According to the Finance ministry‚ Korea's membership was endorsed by Vice Minister Choi Sang-mok at a meeting to celebrate the club's 60th anniversary in Paris. Choi said Korea was able to become the first member from an emerging economy for overcoming its painful history of being one of the poorest countries in the 1950's. The Paris Club is an association of creditor nations that seek to find sustainable solutions for debtor countries that face payment difficulties. The announcement came after President Park Geun-hye expressed Korea's willingness to join the organization at a meeting with her French counterpart last month. Reporter :

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