S. Korean president calls for formation of economic bloc with ASEAN

By Byun Duk-kun
JEJU ISLAND, South Korea, May 31 (Yonhap) -- South Korean President Lee Myung-bak
called for efforts to form an economic bloc between Korea and the Association of
Southeast Asian Nations (ASEAN) at a meeting of CEOs on Sunday, saying the move
will create a driving force to get the world out of the global economic
recession.
"A global crisis requires a global countermeasure, and what is most needed is
joint efforts of Korea and ASEAN that possess great potential and the chance for
a rebound," Lee said in his keynote speech marking the opening of a business
forum attended by some 700 government and business leaders from Korea and the 10
member nations of ASEAN.
The two-day "CEO Summit" will be followed by a special Korea-ASEAN summit that
will be held here from Monday to mark the 20th anniversary of establishing a
dialogue partnership between the two sides.
Lee noted that Korea-ASEAN relations have improved dramatically over the last 20
years, during which Seoul's bilateral trade with ASEAN countries jumped from
US$8.2 billion in 1989 to over $90 billion last year.
"Now we must make a new leap based on the relationship we have built during that
time," he said.
President Lee said the countries must further expand and deepen their economic
ties to form an economic bloc in the region.
"Korea and ASEAN must establish a practical regional business community based on
their economic relations that grew so remarkably over the years," the president
said.
Lee also called for increased exchanges between the countries in social and
cultural sectors, noting more exchanges will lead to increased opportunities for
both sides, as well as better understanding between their people.
"As their understanding grows, their willingness to work with each other will
also grow," he said.
The president then stressed the need for joint efforts to fight climate change,
which he earlier said is a "daunting challenge" that threatens all mankind.
Seoul has already committed $200 million to joint efforts to fight the global
issue under its own program called the East Asia Climate Partnership.
"Korea will work with ASEAN countries from now on to expand our cooperation in
various areas that will include the development of renewable energy to
environmentally friendly technology and forestation projects," the president
said.
The CEO Summit will end Monday and be followed by the two-day commemorative
summit between Lee and leaders of the 10 ASEAN countries -- Brunei, Cambodia,
Indonesia, Laos, Malaysia, Myanmar, Singapore, Thailand, the Philippines and
Vietnam.
bdk@yna.co.kr
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