ASEAN seeks Korean role in economic integration

ASEAN Secretary General Le Luong Minh speaks during a recent interview at its headquarters in Jakarta. / Courtesy of ASEAN Secretariat

10-member bloc backs resumption of 6-party talks, UN resolution

This is the first of a series of interviews with leaders of ASEAN and its member states to highlight the importance of strengthening the relation with the 10-member bloc following the establishment of ASEAN Economic Community (AEC) ― ED.

By Kim Jae-kyoung

JAKARTA — ASEAN Secretary General Le Luong Minh called for South Korea to play an important role in the economic integration of the 10-member bloc in Southeast Asia.

In a recent interview at the headquarters of ASEAN in Jakarta, Minh said Korea’s rich experience in economic development will provide impetus for the integration of the AEC launched at the end of 2015.

“South Korea can certainly contribute to the process of AEC integration,” he said. “Korea’s expertise will be needed in implementing the AEC Blueprint 2025 and in realizing the AEC objectives.”

The AEC is an agreement among the 10 ASEAN member nations to create a single market with a free flow of goods, capital and skilled labor by 2025. Its objectives are to build an integrated market by removing all barriers, including those on trade and investment.

He said ASEAN wants more Korean firms and contractors to participate in public-private partnership projects in the region identified under the Master Plan on ASEAN Connectivity (MPAC).

The former Vietnamese deputy foreign minister called for the two parties to strengthen bilateral relations through funding support and further liberalization of products, in line with the gradual progress of economic integration in the region.

“ASEAN and Korea can collaborate on contributing to the ASEAN Infrastructure Fund as many projects under the master plan need substantial funding,” he said.

“The two can strengthen bilateral trade and investments by enhancing collaboration in areas of mutual interest and complementary advantages, such as the shipbuilding, electronics, ICT, automobile and chemical industries, among others.”

He said trade and investment relations between the two have deepened, especially in recent years, with two-way trade reaching $118.6 billion in 2015, almost 5.6 percent of ASEAN’s total.

Korea has been ASEAN’s fifth-largest trading partner since 2010.

Foreign direct investment (FDI) from Korea grew from $1.5 billion in 2008 to $4.5 billion in 2014, which accounted for 3.3 percent of all FDI into ASEAN, making Korea the bloc’s sixth-largest source of investment.

Minh said ASEAN is supportive of the U.N. resolution against North Korea’s nuclear brinkmanship and international efforts to reach a peaceful resolution on the Korean Peninsula.

“We have been supporting the U.N. resolutions on Korean nuclear issues and have also been supporting the resumption of the six-party talks for a peaceful resolution,” he said. “We have been supporting the initiative and the efforts to reduce the escalation of tension on the peninsula.”

Hallyu raises Korea’s profile

The career diplomat, who took the helm of the ASEAN Secretariat in January, 2013, said hallyu, or the Korean Wave, has played a key role in improving Korea’s profile in the region.

“There is a remarkable contribution of Korea’s innovative cultural policy and creative industry to the visibility of ASEAN-Korea cooperation over the past three decades since the two parties established dialogue,” he said.

“Hallyu is a prime example of where culture can be sketched as an engine of growth and an enabler for socio-economic development. It has contributed to the development of Korea’s tourism, entertainment and beauty industries, raising Korea’s global profile.”

In particular, the former U.N. diplomat stressed that Korean dramas and music have changed the image of Korea among ASEAN people.

“Through hallyu, ASEAN people have favorable attitudes about Korea’s products and services,” he said. “It is good to see Korea’s brands across all sectors, including household appliances, cars, cosmetics, medical services, construction, IT and security.”

He also said that many ASEAN countries want to expand cultural exchanges with Korea to cultivate creative industries.

“ASEAN’s creative industries are still in their infancy, though ASEAN member states have increasingly higher appreciation and support for such industries to thrive,” he said.

“ASEAN can continue to have more exchanges on cultural and diplomatic policies and to learn from the experiences of hallyu when promoting its image globally.”

ASEAN stands for the Association of Southeast Asian Nations and consists of Brunei, Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Laos, Thailand and Vietnam.