6/2, 9:25 AM (Source: TeleTrader)
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South Korea anticipates formal G7 membership

South Korea's presidential spokesman Kang Min-seok (pictured) stated on Tuesday that the country expects to become a formal member of the Group of Seven (G7) if President Moon Jae-in attends the organization's summit in the United States, potentially in September.

Moon is said to have accepted the invitation to the event in a phone conversation with his US counterpart Donald Trump yesterday, as the American president was considering including South Korea, Russia, Australia and India in the summit.

The G7 is an economic organization that consists of seven largest economies globally that also have the "advanced" status at the International Monetary Fund (IMF). Its members are the United States, the United Kingdom, Canada, France, Germany, Italy and Japan.

Breaking the News / MS