Mr. Chairman,
Excellencies and
Ladies and Gentlemen,

It was a great pleasure for me to have had a most productive exchange of views yesterday and this morning on issues of our mutual interest and concern. Looking forward to lively discussions at this afternoon session, I would like to focus my remarks on the present and future ROK-ASEAN relations.

To begin with, I would like to welcome the Vietnamese delegation who are attending this 7+1 session for the first time. I am sure that Vietnam will be an indispensable member f ASEAN, contributing to ASEAN's solidarity and resilience.


Mr. Chairman,

It is gratifying to note that the ROK-ASEAN relations have continuously been expanding at an accelerated speed. To note a few examples, Korea's trade with the ASEAN countries last year reached 19.1 billion US dollars which corresponded to 1 0 percent of our total trade. Now Korea is the fourth largest trading partner of ASEAN. Our investment in the ASEAN countries as of the end of the 1994 was 13.5 billion US dollars, which as about 18 percent of our total investment overseas. Also, ASEAN countries have emerged as the number one partner of the Korean construction companies.

The rapid expansion of ROK-ASEAN ties was also conspicuous in tourism. Last year, more than a half million Koreans visited ASEAN countries, recording a 30 percent increase compared with the previous year. Given our geographical proximity and ASEAN countries potential for the tourism industry, we predict that the number of Korean tourists in ASEAN countries will greatly increase in the near future.

This dynamic development of the ROK-ASEAN relations has not been limited to the trade and economic arena. In, the political area, we have also maintained very close cooperation, particularly in solving the North Korean nuclear issue. ASEAN countries took part in various forms in the Korean Peninsula Energy Development Organization (KEDO).

ASEAN countries have also rendered support for the ROK's candidature for the non-permanent seat of the United Nations Security Council for the 1996- 1997 term. Taking this opportunity, I would like to express our sincere gratitude for all the support that ASEAN courtries have provided to Korea.

How was it possible to bring about such a remarkable result ? I think e can attribute the success to the ROK-ASEAN Dialogue Partnership. Although our Dialogue Partnership started only six years ago, it has been and continues to be a main vehicle in promoting mutually beneficial relations between the ROK and ASEAN.

The Second Meeting of the ROK-ASEAN Dialogue was held in Seoul just two months ago. At that meeting, there were very detailed discussions on how to further promote trade, investment, tourism, science and technology, and human resources development between the Republic of Korea and ASEAN countries. We view that the Seoul meeting firmly consolidated the ROK-ASEAN Dialogue partnership.

In order to translate this cooperative spirit into concrete actions, the ROK and ASEAN have actively promoted cooperation projects since July 1990 which are financed by the ROK-ASEAN Special Cooperation Fund (SCF). Over the past five years, as many as 34 projects have successfully been completed, using about four million US dollars of the SCF. We strongly believe that, by implementing these cooperation projects in a wide range of fields, we were able to heighten, the ROK-ASEAN cooperative relations to a level that both sides can be satisfied with.

In this confection, the decision by the Korean Government-,t to make an additional contribution of two million US dollars to the ROK-ASEAN Special Cooperation Fund (SCF) deserves particular attention.

As to the ROK-ASEAN cooperation projects, I wild like to particuIarly take note of the fruitful result of the "Youth Exchange and Cooperation Project." It was implemented in Korea from the 26th of October to the 15th of November 1994 with about 90 Korean and ASEAN youths participating. This project which gave our youths a wonderful opportunity to bind a close friendship with each other, contributed greatly to the long-term development of ROK-ASEAN relations.

Appreciating the rewarding outcome of this project, Korea would like to propose the Second Youth Exchange project, which will hopefully take place in a member country of ASEAN.

Since the first Dialogue which was held in May 1993, Korea and ASEAN have discussed the matter of opening an ASEAN Promotion Center (APC) in Seoul. We have endeavored to find a way to establish the APC, in particular, making an extensive feasibility study on the establishment f the Center. As a result, we will soon start detailed consultations with ASEAN. I hope we can find a good arrangement that is acceptable to both sides.

Before concluding my statement, I would like to add one more thought. I think the future of ASEAN is forever bright. With the entry of Vietnam, ASEAN's standing in the international community as a regional cooperation entity will be greatly enhanced. At the same time, I expect that the ROK-ASEAN relationship will be put on a rock-solid foundation in the years to come.

Finally, allow me to express my heart-felt gratitude to the Philippine government, as ROK's Coordinating Country, for its kind support and assistance.

Thank you.