ASEAN-REPUBLIC OF KOREA


The Republic of Korea (ROK) became a Dialogue Partner of ASEAN at the ASEAN Ministerial Meeting/Post- Ministerial Meeting in July 1991. Prior to this, an ASEAN- ROK Joint Sectoral Cooperation Committee (JSCC), an inter-government consultative body, was established to facilitate the ASEAN-ROK Dialogue relations. The First Meeting of ASEAN-ROK Dialogue was held on 11-13 May 1993.

The ROK Government as well as the Korean private sector intend to further enlarge their trade links with ASEAN by means of counter trade and a variety of financing methods. Considering Korea's rapidly expanding trade pattern, ASEAN countries offer potential opportunities for further expansion in the medium and long-term. Various high- level visits have taken place to increase bilateral trade and to establish multi-faceted relations with ASEAN countries through an expanded flow of capital and technology, while seeking to achieve a horizontal inter-industry division of labour.

The Second Meeting of the ASEAN-ROK JSCC agreed that the ASEAN-ROK Cooperation should be expanded to other areas such as development Cooperation, transfer of technology and human resource development in addition to trade, investment and tourism. Several project proposals under the framework of the expanded areas of Cooperation have been proposed by ROK for implementation during the FY 1992-1993. These include, among others, Technical Transfer Programme in Agricultural Development and Basic Research Project for Supporting the Establishment of Science and Technology Policy and Research and Development Management System in ASEAN countries.

On international issues, ASEAN and ROK agreed to continue to undertake cooperative efforts in creating a more open world trading system on commodities and processed products and towards stabilizing prices and promoting downstream processing. ASEAN appreciated the support given by ROK against the campaign on eco-labelling of tropical timber products.

ASEAN and ROK have noted with satisfaction some accomplishments in the development cooperation programme such as those successfully implemented, among others, the ASEAN Travel Fair held in Seoul in April 1993 and the installation of the Computer E-Mail System which links ASEAN Member Countries and the ASEAN Secretariat.