Post his recent attendance at the ASEAN summit in Singapore followed by the APEC Summit in Papua New Guinea, the South Korean President, Moon Jae-in asserted the importance of maintaining strong ties with the ASEAN neighbours in the Tuesday cabinet meeting.
The South Korean leader apprised the cabinet of India, ASEAN and Australia’s willingness to accept and cooperate with the New Southern Policy. More importantly, Moon insisted that the very future of South Korea depended on its relations with ASEAN and India. He also highlighted the trade value as the ASEAN nations make for South Korea’s second largest trade partner. Last year, South Korea noted a remarkable 25% growth in trade volume in the region. Further, President Moon Jae-in spoke of developing cultural, human exchange, diplomatic and economic projects for establishing stronger bonds with the ASEAN nations.
The New Southern Policy involves enhancement of economic and political ties with South Korea’s southern and south-western neighbours.
