SKorea boosts SEAsia ties amid downturn
SEOGWIPO - South Korea is seeking both stronger economic ties with Southeast Asia and diplomatic backing against North Korea as it hosts a lavish summit of regional leaders here, analysts said.
With the global downturn hitting Western demand for its exports, Seoul is looking increasingly to a relatively more resilient Southeast Asia.
It also wants the region's diplomatic backing against its Stalinist northern neighbour, which last week tested an atomic bomb for the second time, the analysts said.
Ten leaders of the Association of Southeast Asian Nations (ASEAN) and South Korean President Lee Myung-bak will start a two-day summit later Monday in the scenic island of Jeju to mark 20 years of dialogue.
South Korean sources said the government spent the equivalent of 2.4 million dollars to host the event.
The resort island is plastered with billboards and other displays promoting the summit. Its core message is "warm-hearted neighbours and partners for prosperity," organisers say.
"South Korea's Asian diplomacy has focused too much on Northeast Asia, largely Japan and China. It has actually paid too little attention to Southeast Asia despite its huge potential," said Cho Hung-Guk, a Southeast Asia expert at Pusan National University.
"It is welcome news, though, that South Korea is belatedly trying to balance its diplomacy," he told AFP.
Cho said Seoul's relationship with ASEAN, a market of about 600 million people, has lagged "far behind" that of Japan and China, which have grown in depth and volume.
Panitan Wattayanagorn, spokesman for Thai Prime Minister Abhisit Vejjajiva, said there was a need for the two sides to deepen relations further as they deal with the impact of the global downturn.
"Time is critical as ASEAN needs a close partner, and vice versa, to be able to deal effectively with the impact of the economic crisis," Panitan, whose country is the ASEAN current chair, told AFP.
Thailand is looking forward to further cooperation with Seoul in the areas of energy and environmentally-friendly technology, he said.
Thailand's second stimulus package will offer opportunities for South Korean industries in telecommunications, transportation and other crucial infrastructure.
Premier Abhisit brought along with him a large Thai business delegation.
"The market size is very significant for both sides," Panitan said.
Resource-poor South Korea is eyeing abundant raw materials from ASEAN, which includes resource-rich countries like Indonesia, Malaysia and Brunei -- all producers of crude oil and natural gas.
"Korean companies are developing natural resources such as crude oil, natural gas, timber, rubber etc. in Indonesia and Malaysia," its finance ministry said in a statement.
ASEAN is already South Korea's third largest trading partner, with two-way trade worth around 90 billion dollars last year, and its second largest destination for overseas investment.
Korean investment in the region was worth 5.86 billion dollars last year.
The figures are expected to rise further when the two sides on Tuesday sign an investment pact, completing negotiations on a free trade agreement that began in 2005.
Former ASEAN secretary general Rodolfo Severino said ASEAN-South Korea ties have always been problem-free and there is enormous people-to-people contact.
More than 3.3 million Koreans visited ASEAN nations as tourists last year, while about 800,000 visitors came the other way.
South Korean cars, electronics goods and soap operas are popular in the region.
Strategically, South Korea "needs the support of Southeast Asia in its relations with the North," Severino said.
Cho, the South Korean analyst, said however that relations will have to be nurtured.
"I don't expect this one-off summit event to bring any meaningful change to the South Korea-ASEAN relationship overnight," he said.
"This should serve just as a starting point and you have to make continuous efforts on a long-term strategy."
SEOGWIPO - South Korea is seeking both stronger economic ties with Southeast Asia and diplomatic backing against North Korea as it hosts a lavish summit of regional leaders here, analysts said.
With the global downturn hitting Western demand for its exports, Seoul is looking increasingly to a relatively more resilient Southeast Asia.
It also wants the region's diplomatic backing against its Stalinist northern neighbour, which last week tested an atomic bomb for the second time, the analysts said.
Ten leaders of the Association of Southeast Asian Nations (ASEAN) and South Korean President Lee Myung-bak will start a two-day summit later Monday in the scenic island of Jeju to mark 20 years of dialogue.
South Korean sources said the government spent the equivalent of 2.4 million dollars to host the event.
The resort island is plastered with billboards and other displays promoting the summit. Its core message is "warm-hearted neighbours and partners for prosperity," organisers say.
"South Korea's Asian diplomacy has focused too much on Northeast Asia, largely Japan and China. It has actually paid too little attention to Southeast Asia despite its huge potential," said Cho Hung-Guk, a Southeast Asia expert at Pusan National University.
"It is welcome news, though, that South Korea is belatedly trying to balance its diplomacy," he told AFP.
Cho said Seoul's relationship with ASEAN, a market of about 600 million people, has lagged "far behind" that of Japan and China, which have grown in depth and volume.
Panitan Wattayanagorn, spokesman for Thai Prime Minister Abhisit Vejjajiva, said there was a need for the two sides to deepen relations further as they deal with the impact of the global downturn.
"Time is critical as ASEAN needs a close partner, and vice versa, to be able to deal effectively with the impact of the economic crisis," Panitan, whose country is the ASEAN current chair, told AFP.
Thailand is looking forward to further cooperation with Seoul in the areas of energy and environmentally-friendly technology, he said.
Thailand's second stimulus package will offer opportunities for South Korean industries in telecommunications, transportation and other crucial infrastructure.
Premier Abhisit brought along with him a large Thai business delegation.
"The market size is very significant for both sides," Panitan said.
Resource-poor South Korea is eyeing abundant raw materials from ASEAN, which includes resource-rich countries like Indonesia, Malaysia and Brunei -- all producers of crude oil and natural gas.
"Korean companies are developing natural resources such as crude oil, natural gas, timber, rubber etc. in Indonesia and Malaysia," its finance ministry said in a statement.
ASEAN is already South Korea's third largest trading partner, with two-way trade worth around 90 billion dollars last year, and its second largest destination for overseas investment.
Korean investment in the region was worth 5.86 billion dollars last year.
The figures are expected to rise further when the two sides on Tuesday sign an investment pact, completing negotiations on a free trade agreement that began in 2005.
Former ASEAN secretary general Rodolfo Severino said ASEAN-South Korea ties have always been problem-free and there is enormous people-to-people contact.
More than 3.3 million Koreans visited ASEAN nations as tourists last year, while about 800,000 visitors came the other way.
South Korean cars, electronics goods and soap operas are popular in the region.
Strategically, South Korea "needs the support of Southeast Asia in its relations with the North," Severino said.
Cho, the South Korean analyst, said however that relations will have to be nurtured.
"I don't expect this one-off summit event to bring any meaningful change to the South Korea-ASEAN relationship overnight," he said.
"This should serve just as a starting point and you have to make continuous efforts on a long-term strategy."
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