On 2 November 1989 at the ASEAN Secretariat Building, His Excellency Mr. Ali Alatas, Minister for Foreign Affairs of the Republic of Indonesia and the current Chairman of the ASEAN Standing Committee on behalf of ASEAN and His Excellency Mr. Choi Ho-Joong, Minister of Foreign Affairs of the Republic of Korea on behalf on the Republic of Korea (ROK) signed and exchanged the letters establishing Sectoral Dialogue Relations between ASEAN and the ROK. The signing was done in the presence of the Ambassadors of ASEAN member countries and Dialogue Countries, representatives of the EC and the UNDP, foreign dignitaries, senior officials of the Government of the Republic of Indonesia, distinguished members of the private sectors of ASEAN and the Republic of Korea as well as the Secretary-General of the ASEAN Secretariat and his staff.

The ASEAN -ROK Sectoral Dialogue will initially concentrate on the areas of trade, investment and tourism, with the possibility of expanding the relations to include other areas such as development cooperation, transfer of technology and human resources development (HRD).

On the modalities of this Sectoral Dialogue, ASEAN and the ROK agreed to set up an ASEAN ROK Joint Sectoral Cooperation Committee (ASEAN -ROK JSCC) consisting of senior government officials from both sides. This inter-governmental consultative body will facilitate the ASEAN-ROK Sectoral Dialogue Relations in the agreed areas. The first ASEAN -ROK Joint Sectoral Cooperation Committee Meeting will be held in one of the ASEAN capitals on a date to be mutually agreed upon.

On ASEAN's own machinery, ASEAN has agreed that Indonesia shall be the first ASEAN member country to coordinate the ASEAN -ROK Sectoral Dialogue Relations and that the ASEAN Committee in Seoul (ACS), composed of ASEAN Heads of Diplomatic Missions accredited to the Republic of Korea would be formed to facilitate the conduct of the said Dialogue Relations.

Aware that the momentum and effectiveness of the Sectoral Dialogue also depends very much on the activities of the private sector, ASEAN and the ROK wish to encourage the formation of an ASEAN-ROK Business Council.

The establishment of the ASEAN-ROK Sectoral Dialogue Relations is in line with the direction given by the Third Meeting of the ASEAN Heads of Government in Manila in December 1987 on ASEAN relations with -additional third countries of groups of countries and international organizations/institutions to the effect that such relations need not reach a full dialogue status but may be undertaken on specific areas which would yield positive mutual benefits.