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Jakarta Post

NSP+: Future direction of ASEAN-Korea strategic partnership

  • Lim Sungnam

    Jakarta

Jakarta   /   Mon, November 30 2020   /  01:00 am
Trading partner: South Korean President Moon Jae-in (left) claps as Minister for Trade Yoo Myung-hee holds up a signed agreement during the signing ceremony for the Regional Comprehensive Economic Partnership (RCEP) trade pact at the ASEAN summit held online in Hanoi on Nov. 15.(AFP/Nhac Nguyen)

November has always been a special month for the ASEAN-Korea partnership. In November 2017, President Moon Jae-in declared the New Southern Policy in Jakarta. Last November, the ASEAN-Korea Commemorative Summit was held successfully in Busan. This November, at the 21st ASEAN-Korea Summit, President Moon unveiled the New Southern Policy Plus (NSP+), which aims to strengthen and expand the existing New Southern Policy. Over the past three years, the New Southern Policy has laid a meaningful foundation for the progress of ties of friendship and cooperation between ASEAN and Korea. In 2019, the number of visitors between ASEAN and Korea reached about 13 million, cementing ASEAN’s position as the most popular destination for Koreans. The bilateral trade volume exceeded US$150 billion last year. ASEAN is Korea’s second-largest trading partner, while Korea is ASEAN’s fif...