South Korea's G7 Entry Prospects

Established in 1975, the G7 is an informal grouping of the world's leading industrialized nations - the United States, Britain, Canada, Japan, France, Germany and Italy. Although South Korea is not a member, it has participated as an observer in four annual summits of G7 leaders since 2008.

Policymakers have debated whether South Korea could have a permanent seat in the G7 in recent years, and the idea appears to be gaining growing support after President Yoon Suk Yeol attended the most recent G7 summit in Hiroshima, Japan.

The ruling KPP has praised Mr. Yoon’s commitment to taking a greater role in addressing global crises, as well as a series of bilateral and trilateral summits he has held with G7 leaders. Officials say South Korea is now like a “member of the G8.”

Speaking at a forum hosted by the Korea News Editors Association on May 23, Foreign Minister Park Jin also offered similar praise, declaring: “The foreign policies implemented by President Yoon Suk Yeol have elevated South Korea’s status to that of the G7 countries, to the G8.”

Analysts believe there is a strong case for Asia's fourth-largest economy to become a member of the G7 - given the size of its economy, military and political system.

“Korea’s current capabilities ensure that it is capable of joining the G7. Most importantly, its per capita GDP is basically on par with Japan and Italy,” said Ramon Pacheco Pardo, Associate Professor of International Relations at King’s College London and Chair of KF-VUB Korea at the Brussels School of Management.

However, Mr. Pacheco Pardo said that South Korea is not the only country seeking a seat at the G7.

“Full membership of the G7 would probably only happen alongside other countries – most notably Australia, and perhaps India. Because adding more members would be an acknowledgement by the G7 that the current structure of the grouping is outdated and that more Asian and Indo-Pacific countries need to be included,” he explained.

Naoko Aoki, a political scientist at the nonprofit RAND Corporation, commented that joining the G7 is a good opportunity for South Korea to play a larger global role as a strong democracy with significant economic and political influence.

While the G7 has not set out formal criteria for granting membership, the decision to allow a new country to join the group requires the approval of all member states. There are some concerns that Japan – the only Asian country in the G7 – may not welcome South Korea joining the group.

But Ms. Aoki sees it differently. “I think Japan should cooperate closely with countries that support the rules-based international order, especially a country with a lot of economic and political influence like South Korea,” she said.

However, both experts questioned the practical benefits that South Korea could receive if it became a permanent member of the G7.

“The question for Korea is whether the G7 is a path filled with light. In other words, is joining the G7 a good way for Korea to exert its influence globally?” Ms. Aoki said.

The G7 has changed since its early days in the 1970s, when it began as a forum for central bankers and finance ministers, she said. Today, the G7's share of global economic output is falling compared to the G20, the world's leading developed and emerging economies, Aoki said.

Professor Pacheco Pardo shares a similar view. He believes that formal G7 membership may not make much difference for South Korea in international relations.

“Politically, it would be very symbolic. South Korea is now regularly invited to G7 summits, and its policies are in line with those of the G7 members anyway. So from a purely practical point of view, I don’t think it would be a big change if South Korea joined the group,” he argued.

Moreover, experts note that Seoul should think about its relationship with Beijing, if the country joins the G7.

For his part, Mr. Pacheco Pardo said that if South Korea joined the G7, it would be a sign of becoming part of the West, moving away from its current position as a neutral country.

According to Tin Tuc Newspaper