South Korea is seeking to become the 21st member of an international group of creditor countries, called the Paris Club.

A finance ministry official told reporters on Sunday that the government is considering applying for a spot at the Paris Club this year.
 
If accepted to the group, South Korea will be a creditor country 19 years after it was hit by the 1997 financial crisis and became a debtor nation. 
 
The Paris Club has signed agreements providing 583 billion U.S. dollars in debt treatments for 90 debtor countries.