South Korea is set to be included among the top ten contributors to the UN next year.

South Korea’s Permanent Representative to the UN Cho Hyun said Monday that South Korea is expected to become the ninth-largest contributor to the world organization next year when considering all member states’ contributions to the UN’ regular budget. 

The world body’s regular budget is provided by contributions from member states. The rate of contribution is estimated every three years based on key economic indices, including gross national income and foreign debt. 

When South Korea first joined the UN 30 years ago, its rate of contribution stood at point-69 percent. The rate now stands at two-point-27 percent. 

Cho said South Korea is currently the eleventh largest contributor to the UN and the tenth-largest provider of assessed contributions to UN Peacekeeping operations.