Mr. Chairman,
Excellencies,
Ladies and Gentlemen,

It is an honor and pleasure for me to represent the Republic of Korea at this annual Post Ministerial Conferences. On behalf My delegation, I would like to express my deep gratitude to the Government and the people of Brunei Darussalam for their warm welcome and hospitality. Taking this opportunity, I also wish to congratulate Vietnam, on its entry into ASEAN.

Throughout history, there have always bee, challenges and changes, but their force and speed have varied. In the contemporary world, we are faced with the greatest challenges and the most rapid changes. Transportation and communications technologies have shrunk the world. Interdependence is no longer an academic abstract, but a reality in this world.

The fall of the Berlin Wall in November 1989 left us with task of seeking a new order,. Politically, we now expect a new order to replace the Cold War system. In this process, -optimism, and pessimism, vie with each other. Optimists speak of peace talks in the Middle East which are expected to put an end to the Arab-Israeli conflict. Or, the other hand, pessimists stress the tragic war in Bosnia and Herzegovina. Economically, the world also is working on establishing a freer trade system. Since the last Post-Ministerial Conference, we have observed regional and international efforts to establish a new economic order; among them are the launching of the World Trade Organization (WTO) and the progress of the APEC Summit in Bogor, Indonesia.

Global Economy

The past couple of years saw a worldwide economic recovery. In particular, developing countries have achieved high economic growth. This economic trend prompted trade expansion. According to a WTO analysis in March 1995, world trade expanded strongly in 1994, recording the largest yearly gain since 1976. The higher growth of world trade was due to the recovery of the Western, European, economy and the continuation f the trade expansion in Asia, North America and Latin America.

This analysis also forecasts an increase in world trade in 1995. There is no doubt, however, that this upward trend of world trade can be sustained only if a free trade environment can be created globally. Worldwide efforts to improve the trade environment culminated when the Uruguay Round negotiations came to fruition in late 1993 and gave birth to the WTO in January 1995.

The Uruguay Round negotiations established strengthened rules in traditional trade sectors and put a first stepping stone for the establishment of trade rules in Services; and intellectual property rights. There still remain areas in which international norms for trade expansion are required; they are the environment, labor and competitive policy sectors.

We welcome ,various initiatives to set up new trade rules in these areas. In this regard, e look forward to contributions that the WTO will make in the years to come. My government ,ill take an active part in the activities under the auspices of the WTO to establish new trade rules, taking into account its economic status in the world.

Let me draw your attention to the importance of development cooperation in the current world, particularly because this Conference is attended by developed and developing countries. It seems to me that less attention has been paid to development cooperation since the end of the Cold War. It should be noted that the gap between rich and poor is widening. As the Secretary-General of the United Nations Boutros Boutros-Ghali stressed, development is not an issue of the past. I would like to compliment the United Nations on its efforts to attract the attention of the international community for economic and social development through various activities such as holding international conferences.

I am pleased to note that my government is committed to development cooperation. During the World Summit for Social Development last March in Copenhagen, the Republic of Korea committed itself to increasing the level of its support for the development of human resources in developing countries. My government is trying to substantially increase the budget of its Official Development Aid, so that it corresponds to Korea's economic capabilities.

Regional Cooperation in the Asia-Pacific Region

There have been two different approaches toward producing a freer trade environment--globalism and regionalism. The WTO represents globalism; the EU, NAFTA, APEC represent the latter. Historically, globalism have often been in conflict with each other. In this world, we need to find harmony in these two approaches. It is my belief that regionalism should be developed in a way to contribute to the globalization of the world economy by strengthening free trade. Regional economic groupings should not hinder, the trade liberalization based on multilateralism.

Since the inception of AP EC in 1989, the Republic of Korea has exerted every effort to ensure that APEC be faithful to open regionalism so that it can contribute to the multilateral free trading environment. It is particularly important by the year 2010/2020. Korea hopes that a good action agenda, will be adopted at the Osaka Economic Leaders' Meeting so that APEC will embark upon efforts to promote trade and investment in the Asia-Pacific region and the world.

Furthermore, I would like to address cooperation between regional economic groupings. I believe that there needs to be cooperation among regional groupings. In this context, the Republic of Korea welcomes the proposal of holding an Asia-Europe Meeting (AEM), and will take an active part in the Meeting as well as in preparatory meetings. We are of the opinion that the AEM will enable Asia and Europe to work together for the globalization of the world economy.

Mr. Chairman,

During the Cold War era, security issues in the world were monopolized by two super powers. Regional and individual nations' security depended upon the global situation influenced by the rivalry of the two Superpowers. In other words, micro-level security gave way to macro-level security. The end of the Cold War certainly changed this situation.

Against this background, security discussions at the regional level gained momentum. Therefore, my government has attached particular importance to the ASEAN Regional Forum (ARF), which was launched last year as a regional security forum in the Asia- Pacific region, Korea has contributed to the development of the ARF.,p> I am pleased to inform this Conference that the ASEAN Regional Forum Seminar on Preventive Diplomacy was successfully held in Seoul on the 9th and the 10th of last May, with about 50 officials and scholars from 17 countries participating. During the Seminar, participants discussed the definition and identified the scope of preventive diplomacy, seeking to clarify its implementation and direction.

Concerning the security issue, I am glad to note that the State parties to the Treaty on the No,- Proliferation of Nuclear Weapons(NPT)decided upon the extension of the NPT during the Review and Extension Conference last May. My government strongly supported the indefinite extension of the NPT, particularly considering the nuclear threat posed by North Korea. It is our firm belief that the NPT regime is the sole and effective international legal instrument against nuclear proliferation. In addition, I believe all nuclear weapon states should refrain from nuclear testing in order to secure effectiveness of the NPT regime.

The North Korean, nuclear issue has attracted worldwide concern. After long and tedious negotiations and support from the international community, a breakthrough to resolve the issue was made in Kuala Lumpur last June. But there still remains a long way to go to ensure that the Korean Peninsula will be free from immediate nuclear threat. For the ultimate resolution of the North Korean nuclear issue, both bilateral and multilateral approaches are required, In this regard, I would like to convey the sincere gratitude of the Korean government for the strong support your governments have provided, be it financial or moral, and further call upon you to continue to be actively involved about this issue.

Inter-Korean Relations

Since the death of Kim II-sung, , we have been concerned over the political situation in North Korea, paying particular attention to the transfer of power. It was predicted that Kim Jung-il, son the late Kim II- sung, would assume power without any trouble because the North has prepared for the hereditary succession of power for a long time. In fact, it is believed that he will assume power in the near future.

The North Korean economy has been deteriorating, recording continuous minus growth for the past several years. Its economic failure seems to have resulted from a closed economic policy and an excessive expenditure for military build-up. Taking into account economic difficulties of the North, we have tried to promote economic cooperation in the spirit of brotherhood. Recently, the Republic of Korea has decided to provide the North with 150,000 tons of rice without any conditions in an effort to build confidence between the two Koreas.

My government also has endeavored to establish friendly relations with the North, particularly wishing to resume the South-North dialogue. ignoring our call for dialogue, however, North Korea is making every effort to normalize its relations with the United States and Japan. The North should realize that such a strategy is not desirable for the achievement of South-North cooperation and reconciliation. We are of the opinion that the South and the North should pursue a peace and security system on the Korean Peninsula which is based upon the principle of settlement by the parties concerned. The inter-Korean dialogue is indispensable for resolving pending issues between the two Koreas. My government sincerely hopes that the North takes a positive attitude to foster better relations with the South.

Mr. Chairman,
Excellencies,

In the last decade of the 20th century, history dictated that we prepare for a new political and economic order in which the international community will maintain security and peace and improve human welfare early in the next century. The happiness and prosperity of future generations greatly depends upon the determination of the present generation. We must take pride in what we are doing, and should be answerable for our actions.

I would like to remind all of us here that this Conference gives us a great opportunity to fulfill our obligation to formulate a new world order of peace and progress. We are able to discuss ways to improve peace and stability in the Asia-Pacific region and also deliberate global issues in this forum. I particularly wish that countries in the Asia-Pacific region would be mindful of historical responsibility and take a, active role in promoting the common prosperity of human beings. It is my belief that the discussions we have here will be very fruitful and rewarding in seeking a new regional and world order.

Thank you.