Korea's Economy
From the Issue
Korea's Economy Volume 29About Korea's Economy
Korea’s Economy is KEI’s annual journal publication dedicated to the key issues of the day for the Korean economy. Articles in Korea’s Economy are designed to give the casual, but informed reader insight into issues related to Korea’s markets and financial institutions, economic reform, economic relations with the wider world, and North Korea. It is published jointly each year with the Korea Institute for International Economic Policy.
Author: Chang Jae Lee, Hyo Kyung Bang
Region: Asia
Theme: Economics, Foreign Relations
Location: Korea, South, Japan, China, Australia, India
Published June 16, 2014
Download PDFOver the past twenty years, economic relations between ASEAN and Korea have evolved quite rapidly. As a result, ASEAN has now become the second largest trading partner and FDI destination for Korea.
Various important institutional frameworks have also been established. The ASEAN-Korea Summit has become an annual event, and the ASEAN-Korea Centre was established with the mandate to promote economic and socio-cultural cooperation. With regard to formal economic integration, the ASEAN-Korea FTA as well as the Korea-Singapore FTA went into force, and the Korea- Indonesia CEPA and the Korea-Vietnam FTA negotiations are under way. Additionally, RCEP negotiations are currently under way, with the aim of conclusion by the end of 2015, among ASEAN, China, Japan, Korea, India, Australia and New Zealand.