Lee Hyo-jin covers the Bank of Korea, the banking industry and broader financial news. Her previous beats include foreign affairs, North Korea and general reporting on Korean society.
As Korea weighs joining Trump's 'Board of Peace,' experts see more gains than risks
U.S. President Donald Trump holds a signed founding charter at the "Board of Peace" meeting during the annual World Economic Forum meeting in Davos, Switzerland, Thursday (local time). UPI-Yonhap
By Lee Hyo-jin
Invitation to join US-led peace initiative puts Seoul in diplomatic bind
Korea faces a diplomatic dilemma after receiving U.S. President Donald Trump’s invitation to join the “Board of Peace,” a Washington-led initiative initially framed around the Gaza conflict but expected to evolve into a broader global forum. Foreign policy experts, meanwhile, contend that Seoul has little choice but to secure a seat at the table.
As of Sunday, the Korean government has not announced whether it would accept or reject the invitation, which it confirmed receiving earlier that week. Cheong Wa Dae said it was reviewing participation and would take into account the board’s contributions to peace and stability and Korea’s potential role in the forum.
Several traditional U.S. allies in Europe, including France and the United Kingdom, have either declined to join or expressed reluctance. Russia has reportedly discussed participation on the condition of unfreezing Russian assets held in the U.S. in exchange for a $1 billion contribution.
Amid the differing reactions from the invited states, analysts view Korea as likely to eventually accept the offer, as there is little reason to refuse it.
President Lee Jae Myung speaks with U.S. President Donald Trump in a gift shop at Gyeongju National Museum in Gyeongju, North Gyeongsang Province, Oct. 29, 2025. Courtesy of White House
“European countries are in conflict with the U.S. over the Greenland issue, so they are in a position to push back. In contrast, Korea is on good terms with Washington and would not want to create unnecessary friction,” said Park Won-gon, a professor of North Korean studies at Ewha Womans University.
Park added that rejecting the invitation could carry risks, saying, “Given Trump’s personality, there is a strong possibility that some form of retaliation could follow if Seoul turns down the invitation.”
Beyond bilateral considerations, some experts see joining the initiative as an opportunity for the Lee Jae Myung administration to elevate Korea’s diplomatic profile.
“Korea today is a country with a global footprint and is expected to take positions on issues well beyond Northeast Asia. That includes the conflict between Israel and Palestine,” said Ramon Pacheco Pardo, a professor of international relations at King’s College London.
He noted that countries aligned with both Israel and Palestine have joined the board, creating space for Korea to demonstrate that its engagement in the region extends beyond commercial ties to diplomatic involvement.
Palestinian girls collect plastic and paper to burn for cooking and warmth at a landfill in Khan Yunis, Gaza, Thursday (local time). AP-Yonhap
Sean King, an expert on Asia and vice president at New York-based Park Strategies, was skeptical about the board’s long-term relevance, but still saw practical value for Seoul, given the extensive business interests of Korean conglomerates across the Middle East.
“Korea can take or leave the Board of Peace, but gains more than it loses by joining,” King said.
“I’m thinking especially of the valuable face time it would provide Korean officials with counterparts from Bahrain, Saudi Arabia, Qatar and the UAE,” he said. “It would afford the Lee government even more chances to closely interact with high-ranking U.S. officials, which can only further the country’s strategic interests.”
Accepting the invitation would test Seoul’s commitment to multilateral diplomacy, as the board’s long-term purpose and members remain unclear.
Declining it, however, carries its own risks. Turning down the offer could irritate an unpredictable U.S. president, potentially sending ripple effects through the bilateral alliance.
The Ministry of Foreign Affairs said the issue is still under review.
“We are reviewing the matter from multiple angles, including how the proposed mechanism could contribute to peace and stability and what role Korea would be expected to play if it were to participate,” a ministry official said.
The review involves multiple divisions within the ministry, including those overseeing relations with the United States, international law and international organizations. Seoul is also consulting with “like-minded” countries that received the invitation, though officials declined to specify which nations.
Trump formally inaugurated the Board of Peace on Thursday, on the sidelines of the World Economic Forum in Davos, Switzerland, presenting it as an international mechanism to promote stability in Gaza, with an eye toward a broader role.
“This isn’t the United States, this is for the world,” Trump said in his speech. “I think we can spread it out to other things as we succeed in Gaza.”
Trump has claimed that 59 countries have signed the charter, although foreign media reports suggest the figure is around 30. Those said to have accepted the invitation include several Middle Eastern nations, Eastern European states and countries in Central Asia.
Despite the board’s rollout, questions remain about how it would function.
According to diplomatic sources, the charter calls for the board’s operations to be funded through voluntary contributions from member states. While no formal membership fee is specified, countries contributing $1 billion would be exempt from the standard three-year term limit.