South Korea and four other middle-power nations launched an informal consultation body in New York on Wednesday to boost their say on regional and global issues, the Foreign Ministry said.

Dubbed MIKTA, the group also includes Mexico, Indonesia, Turkey and Australia.

Foreign ministers from the five countries held the inaugural meeting on the sidelines of the U.N. General Assembly, presenting their respective issues of interest and discussing priority projects for the next several months.

Korean Foreign Minister Yun Byung-se suggested development cooperation, cyber security, nuclear security, and climate change and the environment as key agenda, according to the Foreign Ministry.

“The five foreign ministers concurred in operating the mechanism not as an exclusive new bloc but an informal consultative body for flexible exchanges of ideas focusing on key issues of the international community,” the ministry said in a statement.

“The meeting is one between middle power nations that share core values of democracy and free market economy and have the willingness and capability to contribute to the international community’s development, and is expected to become a useful venue for discussing major global and regional issues and exploring solutions and contributions, while maintaining transparency and flexibility.”

They agreed to consider issuing a joint statement when necessary. Details are to be nailed down such as meeting cycles and host nations, with Mexico serving as secretary for one year.

By Shin Hyon-hee (heeshin@heraldcorp.com)