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

Finance ministers from South Korea and France discussed the matter at a meeting in Paris on Thursday a day ahead of the two sides' bilateral summit.

While briefing the result of the two ministers' meeting, Seoul's Finance Ministry said that President Park Geun-hye and her French counterpart Francois Hollande will discuss the issue when they meet on Friday.

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. 

Created in 1956 and consisting of 20 members, including major member states of the Organization for Economic Cooperation and Development(OECD), the Paris Club is a non-official discussion platform among creditor nations to discuss debt relief programs for borrower countries.

At the finance ministerial talks, the two sides also agreed to ensure the stability and development of the global financial system as co-chairs of the G20 working group of the global financial system.