SOUTH KOREA-ASEAN TIES PROGRESS

KUALA LUMPUR, Nov 13 (Bernama) -- Asean and South Korean relations
progressed in many areas since Seoul became a full Dialogue Partner of the
10-member regional grouping in 1991.

Head of the Asean Studies Centre, Institute of Southeast Asian Studies,
Singapore, Rodolfo C. Severino said that in Thursday's context, Asean-South
Korean relations flourished in the area of tourism where the number of South
Koreans visiting the region had increased.

He said the Korean community in Asean countries established its presence by
opening restaurants, grocery shops and other business outlets.

"South Korea's investment in South East Asia is also very visible and there
are also many Korean students studying in this region," he said.

More than 3.53 million South Koreans visited Asean countries in 2007.

He was presenting a paper, 'New Roles, New Responsibilities in the Global
Economic Crisis' at the Fourth Korea-Asean Cooperation Forum here today. The
forum was jointly organised by the Korea Foundation and Malaysia's Institute of
Strategic and International Studies.

Severino said South Korea was also importing labourers from Southeast Asian
countries to fill shortages in that sector.

In the context of Asean-South Korea relations, the popularity of Korean TV
soap operas is also another new element in this region.

However, he stressed that in the current global economic crisis, there was
no direct combined Asean-South Korea efforts to respond to the crisis as each
country emerged with its own response.

He also said there was a need to promote more intensive cultural, sports and
student exchanges between Asean and South Korea.

Meanwhile, Senior Fellow, Korea Institute for International Economic Policy
Dr Lee Chang Jae said that the proposed East Asia Free Trade Area (EAFTA) would
increase the overall Gross Domestic Product of East Asian countries by at least
1.2 per cent.

He said the rationale for an EAFTA lay firmly in both economic and
political interests of East Asian countries, adding that it would also reduce
transaction costs for intra-regional trade and production costs for production
networks in East Asia.

-- BERNAMA