Committee to boost India, ASEAN ties launches

By Kim Yoo-chul

South Korea established a special committee to develop policies and adjust strategies for the country's relations with India and Southeast Asia in line with President Moon Jae-in's New Southern Policy.

In a statement, Tuesday, Cheong Wa Dae said the newly launched New Southern Economic Committee will handle projects and initiatives related to the New Southern Policy. This will play a central role in developing ties with India and ASEAN.

“The committee will apply people-oriented, prosperity-sought and peace-driven policies to better connect South Korea to India and ASEAN countries as it is looking to engage as part of its wider approach there, both in terms of trade and cooperation beyond trade,” Kim Hyun-chul, head of the committee, said in a ribbon-cutting ceremony in downtown Seoul.

Kim, also a special adviser to President Moon on economic affairs, added the committee will soon design and specify ideas to bring them the “greatest profit.”

The Cheong Wa Dae statement said 30 people including senior officials at the foreign, trade and finance ministries and Cheong Wa Dae's national security council will work for the committee.

A source at the presidential office said the composition represents President Moon's eagerness to evaluate the committee's significance in terms of actual policymaking.

Progress on the New Southern Policy has continued in recent months. Earlier, President Moon visited India and Singapore in a step to develop the initiative. Both legs of the visit saw some advances especially on the economic side, along with worthwhile developments in areas such as investment and trade.

South Korea's interest in Southeast Asia, India and ASEAN is far from new as the country was already Southeast Asia's No. 2 trade and investment partner, while homegrown tech leaders such as Samsung Electronics and LG Electronics are investing more in India to explore lucrative business opportunities.

Kim said the committee will help the country manage growing challenges such as North Korea and opportunities arising from Seoul's middle-power diplomatic efforts. President Moon is also aiming for a more “balanced diplomacy,” which will include ASEAN and the EU as well.