Viet Nam News
by Kim Young-sun (*)
During Korean Thanksgiving holidays in October, the airport was flooded with people leaving the country. So where were these people going? In fact, the number one travel destination for the South Korean people was once again, ASEAN. More than 600 thousand people travelled to ASEAN during the holiday. To South Korea, ASEAN is a close partner and neighbour, and the two sides have close co-operation and exchanges in a variety of areas.
ASEAN and South Korea became dialogue partners in 1989. From then, for almost three decades, there has been remarkable development in this partnership, with significant milestones achieved. ASEAN is now South Korea’s second largest trading partner and destination for investment. South Korea is ASEAN’s fifth largest trading and investment partner. While the trade volume between the two sides in 1989 was US$8.2 billion, in 2016 it reached $119 billion, a 15-fold increase. Also, Korea’s investment to ASEAN increased from $92 million in 1989 to $5.1 billion in 2016, a 55-fold increase. It is worth noting that South Korea’s investment in ASEAN surpassed that in China by more than two times this year.
South Korean President Moon Jae-in, soon after his inauguration, recognised the importance of his country’s partnership with ASEAN. This will serve as a critical foundation for another level of development for ASEAN-South Korea relations. In mid-November, President Moon will visit Indonesia, Việt Nam and the Philippines for the APEC and ASEAN Summits. We look forward to having President Moon shed light on South Korea’s vision and strategy toward ASEAN, as well as a more concrete action plan to further enhance relations. The partnership between ASEAN and South Korea has become one where they not only need each other, but also want each other. To continue this path, the two sides should not seek immediate benefits, but develop a genuine and long-lasting partnership that will last for hundreds of years.
It is certain that there will be a brighter future. First of all, middle powers in the region that do not have hegemonic intentions, such as ASEAN and South Korea, should work together to forge a genuine partnership. Together, they will be able to play a stabilising role and contribute to regional co-prosperity. This is particularly the case in the Asia-Pacific, where much of the uncertainty in the region is one way or another related to the rivalry among major powers.
Secondly, it is noteworthy that ASEAN and South Korea have complementary economies. Many Korean companies, both large conglomerates and small and medium-sized enterprises (SMEs), have entered ASEAN member states, contributing to the establishment of mutually beneficial economic relations between ASEAN and South Korea. One example is Samsung in Việt Nam, which contributes to more than 20 per cent of the country’s GDP and exports. Another example is the shipping industry in the Philippines, where partnership with South Korea has helped the country’s shipping industry to become number four in the world. Furthermore, the Krakatau-POSCO, jointly established by South Korea’s POSCO company and Indonesia’s Krakatau Steel, is an exemplary case of co-operation in the steel industry. South Korean companies working with partners in ASEAN member states results in win-win outcomes, including economic development, technological co-operation, job creation and human-resource development.
Third, South Korea can assist and take part in ASEAN’s community-building efforts. While the ASEAN Community was launched at the end of 2015, it continues to be a work in progress. One way to contribute is to strengthen the business links between ASEAN and SouthKorea by establishing and strengthening global value chains (GVCs) and global supply chains. This will also help ASEAN micro, small and medium-sized enterprises (MSMEs) to prosper, which are the backbone of the ASEAN economy. Furthermore, South Korea is the optimal partner for the development of ASEAN’s digital economy, as it can share knowledge and know-how in its technological advancement.
Fourth, South Korea can share with ASEAN its experience of achieving democracy and a market economy. With its success case of becoming a donor country from an aid-receiving country, South Korea is active in sharing its development strategy and experience with its neighbours and the international community. To note, many ASEAN member states are South Korea’s priority partner countries for Official Development Assistance (ODA).
Fifth, there are many cultures and values shared by the peoples of ASEAN and South Korea. Experts say that the similar values such as filial piety and family-oriented traditions are some of the essential elements that allow Korean dramas to become widely accepted in South-east Asia. Furthermore, as much as Korean food is becoming well-known in ASEAN, the cuisines of ASEAN are also popular in Korea. The South Korean Government acknowledges that people-to-people exchange and mutual understanding creates a sound foundation for a solid partnership between the two sides. As one saying goes, you must know each other to really love each other. Therefore, Korea places great importance on enhancing two-way co-operation and exchange, one good example being Korea’s initiative to open the ASEAN Culture House in Busan in August this year.
Last but not least, South Korean communities in ASEAN member states are becoming more and more vibrant, while the ASEAN community in South Korea is also becoming bigger and more active. The people of ASEAN have already become members of Korean society through their work, studies, family, and so on. Our peoples work together, live together, and work to prosper together. ASEAN-Korea relations should take another step from just seeking benefits from each other, toward sharinga common destiny. Such efforts are still a progress in the making, but this is the future of ASEAN-Korea partnership.
ASEAN and Korea need to acknowledge that we have a common destiny. It is time that the two sides take another leap in their journey together toward its shared goals. It is certain that this will not only contribute to the development of ASEAN and Korea, but also to the stability and prosperity of the whole region.
(*) Kim Young-sun is Secretary General of the ASEAN-Korea Centre.