ASEAN is already an important partner for South Korea in many sectors,... including economy and culture.<br />We now turn to part two of our five-part special series on the upcoming ASEAN summits in Busan... by taking a closer look at the synergy between South Korea and ASEAN.<br />Yoon Jung-min reports.<br />Southeast Asia is one of South Korea's closest neighbors,... geographically, economically and socially.<br />The two first established a partial partnership in 1989 and upgraded it to a full dialogue partnership in 1991,... and now ASEAN is South Korea's second-largest trading partner and third-largest investment market.<br />As of 2018, the trade volume between South Korea and ASEAN reached over 159-billion U.S. dollars. Exports from Korea to ASEAN amounted to around 100-billion dollars,... while imports from ASEAN to Korea were more than 59-billion dollars.<br />Seoul is bolstering its ties with a broader regional bloc as well.<br />In early November, South Korea, ASEAN, and other key partners including China, Japan and Australia reached an agreement in Bangkok over the Regional Comprehensive Economic Partnership.<br />"At a critical time when protectionism is threatening the global economy, we agreed on the significance of the free, open and rule-based RCEP more than at any other time."<br />Experts stress the importance of diversifying partners, especially with ASEAN, amid growing global uncertainties.<br />"Under the U.S.-China's intensified competition, and we're also facing the Japan's trade disputes,... under those circumstances, we need alternatives productions. (...) We need ASEAN as main partner."<br />The two sides have been also expanding cultural ties. For more exchanges, the ASEAN-Korea Centre was established in Seoul in 2009 and the ASEAN Culture House opened in Busan in 2017.<br />In 2018, nearly 9-million South Koreans visited ASEAN countries as Southeast Asia is a popular tourist destination for Koreans. Going the other way, more than 2-million people from ASEAN visited Korea last year.<br />"We're emphasizing the importance of people-to-people exchanges and heart-to-heart exchanges. In that regard, K-pop, K-drama, K-food and K-beauty are popular in ASEAN countries."<br />Some experts also point out the possibility of three-way cooperation by both South Korea, North Korea and ASEAN in the future,... as Pyeongyang has been also maintaining its partnership with ASEAN.<br />Yoon Jung-min, Arirang News.<br />
