The Finance and Economy Ministry said Thursday South Korea will become a member of the International Monetary Fund's (IMF) Executive Board in 2004.
A group of 13 member countries, including South Korea, recently agreed to promote South Korea to the Executive Board, replacing Australia. in 2004.
South Korea will serve the IMF as a member of the Executive Board for two years from November 2004 for the first time since 1955 when it joined the international monetary governing body.