Look at South Korea right now. Ranking 15th in the world in terms of economy, and in the top 20 for both in terms of donor nations in terms of money donated and as a percent of Gross National Income. Also, the nation is even keeping on target on the United Nations' MDG goal of promoting gender equality, with Park as the President. South Korea's education is ranked number 1, enough to have a stereotype that all Koreans are good at math. Many North Koreans who hear about South Korea struggle to flee to South Korea through Chinese ships, and ironically, North Korea is rather afraid of South Korea, despite the nuclear weaponry they have. In terms of entertainment, PSY continues to remain as a global artist, and the main spotlight in the world's most viral video, "Gangnam Style". K-pop idol groups, such as SNSD(Girls' Generation), B2ST, Big Bang, Infinite, EXO, T-ARA, SISTAR, missA, and more are being globally recognized, too. You cannot forget the Korean dramas: First Love and Stairway to Heaven, and the current 2013-2014 dramas of: I Hear Your Voice, That Winter, The Wind Blows, Master's Sun, The Heirs, Gu Family Book, Secret, Shark, and the all-time favorite, You Who Came from the Stars, with favorite actors and actresses like Lee Jong-suk, So Ji-sub, Song Hye-gyo, Jo In-sung, Lee Bo-young, Lee Seung-gi, Lee Min-ho, Park Shin-hye, Kim Woo-bin, Kim Soo-hyun, and Gianna Jun (Jun Ji-hyun). Conglomerates like Samsung, Hyundai, LG, Lotte, CJ, Daewoo, and Doosan are also continuously contributing their products to the rest of the world.
South Korea's military ranks as #7 in the world, higher than Japan or other big nations. Their media, cultural, and economic successes should be role models for the rest of the world. They resilience in history with dealing with the Japanese and two wars is a testament to how strong the people of Korea are.
South Korea's technology sector is highly subsidized by American defense of their country from China and North Korea. South Korea also has a highly protectionist economy that favors domestic conglomerates like Samsung, LG, and Hyundai. It forces out foreign companies with steep tariffs. South Korea is a minor East Asian economy that does not contribute much to the rest of the world.
No, South Korea should not be recognized as a global contributing country, because that would likely lead to problems from North Korea. Although world powers appreciate South Korea's strong economy, keeping from escalating conflict with the North is extremely important to world security. Adding South Korea as a world power might provoke North Korea.