South Korea (Korea) lacks the compulsory power of regional and global great powers, but still strives to play a major role in the fields of peacebuilding and development. It is a middle power which, due to geopolitical constraints, is unable to play the neutral or brokering role of traditional middle powers, and thus must turn to other areas of agenda setting and niche diplomacy. This article examines policy arenas for which Korea is particularly well suited to playing such a role, and in which Korea can have a major impact, significantly to the mutual advantage of Korea and its regional partners. In order to do so to the best of its ability, Korea needs to shift its policy emphasis from bilateral to multilateral endeavors.