Chairman,
Distinguished delegates of the members of ASEAN

It is a great pleasure me to be here with you again and discuss the ROK-ASEAN dialogue relations. This 7+1 session has become an importants forum in exchanging of mutual concerns and seeking ways and means to further develop the relations between ROK and ASEAN.

As we have all witnessed, ASEAN has demonstrated economic dynamism and many diplomatic initiatives. ASEAN has contributed much to the peace and prosperity in the region by initiating ARF and ASEM. And its remarkable economic growth with an annual rate of 8% for the last decade has also helped secure stability in Asia. I take this opportunity to congratulate the successes of ASEAN


Mr. Chairman,

In regard to the relations between the Republic of Korea and ASEAN, there has also been great improvement since the establishment of a Dialogue Partnership in 1991. The trade volume increased from US$ 13 billion in 1991 to US$ 28 billion in 1995, while the Southeast Asian region has become Korea's second biggest overseas investment destination, following the United States. The Korean people's awareness of ASEAN has also risen remarkably Last year over 1 million Koreans traveled to ASEAN counties which was 5 times greater than in 1991.

In the political arena, Korea and ASEAN have also seen a strengthening of mutual cooperation. We have worked together to maintain stability in the region, inter alia, a Pursuit of a peaceful resolution to the North Korean nuclear issue. Taking this opportunity, I would like to express my gratitude for the support and contribution which ASEAN countries have provided to the Korean Peninsula Energy Development Organization (KEDO).

But, when we look into the future, we should not be self-complacent, It is time for us to develop a long-term based partnership in preparation for the 21st century. With this view in mind, H.E. President Kim young Sam has Proposed the establishment of what may be tentatively called the Korea-ASEAN 21st Century Committee. On this occasion, I take note with appreciation that the Foreign Ministers of the ASEAN countries welcomed the initiative of H.E. President Kim Young Sam.

We in Korea are now working to raise the funds necessary for the Committee and to provide further details for the proposal. When these elements are in place, we hope that working-level consultations start as early as possible to establish the Committee.


Mr. Chairman,

The existing ROK-ASEAN special Cooperation Fund (SCF) has been an important vehicle in promoting Korea-ASEAN cooperation. Since its establishment in 1990, it has contributed to the facilitation of mutual cooperation in the fields of trade, investment, tourism, science and technology, and human resources development. As of the end of 1995, 38 projects were successfully completed, while 5 Projects are currently underway.

Korea's five year funding pledge to the ROK-ASEAN Special Cooperation Fund was carried out from 1990 to 1994, totaling US$ 8 million. In the year 1995, considering the rapidly growing ties between Korea and ASEAN, we added another US$ 2 million.

We will contribute US$ 1 million to the SCF this year and hope to maintain that level of contribution in the years to come In addition, through consultations with the ASEAN, we would like to promote more future-oriented and long-term cooperation projects in preparation for the arrival of a new era.

If the success of the past is any indication of the future, we are confident that both Korea and ASEAN will benefit greatly from this rapidly growing and mature partnership, well beyond the year 2000.

Before I conclude, I would like to express my gratitude for the support which the Philippine Government, as Korea’s coordinating country, has offered to the ROK-ASEAN Dialogue throughout the past two years.

Thank you.