Strengthening the economic security strategy, together with ASEAN[기고/안덕근]

Minister of Trade, Industry and Energy Ahn Deok-geun The US presidential election, on which the world’s attention is focused, is just three weeks away. Forecasts and expert analyzes differ, but generally, the geopolitical value of the Association of Southeast Asian Nations (ASEAN) is expected to remain high.

If the US-China competition continues, ASEAN will retain its role as a ‘strategic balance’, and even if the diplomatic tone changes, it will have no choice but to take a leading role in the global supply chain based on its abundant natural resources. and young workers. In addition, ASEAN is attracting attention as a large consumer market due to rapid economic growth and income growth.

ASEAN is already Korea’s second largest trade destination, and with more than 5,800 Korean companies operating in the region, mutual commitment to economic cooperation is stronger than ever. With President Yoon Seok-yeol’s state visit to the Philippines and Singapore and his attendance at the ASEAN Summit held from the 6th to the 11th of this month, Korea and ASEAN reaffirmed their “comprehensive cooperative partnership and strategic.”

While Japan and China already maintain the highest level of cooperation with ASEAN, Korea’s visit is also significant as it formalized its status as the highest level cooperation partner. height with ASEAN.

Among them, what catches the eye is the cooperation in nuclear power plants and raw material supply chains with the Philippines. Nuclear power plants are the most efficient of carbon-free energy sources, and are also an essential energy source for nurturing high-tech industries such as semiconductors and artificial intelligence (AI).

That is why the Philippines asked for cooperation from Korea, which has excellent nuclear power plant knowledge and technology. The ‘Bataan Nuclear Power Plant Construction Study Memorandum of Understanding (MOU)’ will be a turning point to strengthen more economic cooperation with the Philippines and further expand nuclear power plant cooperation with ASEAN member countries. It is also meaningful that the ‘Core Raw Material Supply Chain Cooperation MOU’ laid the foundation for the promotion of full supply chain strengthening with the Philippines, a country rich in mineral resources such as nickel and cobalt.

The ‘Supply Chain Partnership Agreement’ and ‘Liquefied Natural Gas (LNG) Cooperation MOU’ signed by Singapore are also notable. Through cooperation with Singapore, an information and logistics center, we were able to respond preemptively to the signs of a supply chain crisis, and it is a great achievement that we have had the opportunity to stabilize energy supply and demand and reduce the natural price. gas. In addition, a ‘technological cooperation MOU’ was signed to bring together Singapore’s innovation capabilities and our strengths, such as our manufacturing technology.

Meanwhile, at the ASEAN-Korea Summit held in Laos, President Yoon proposed the launch of the ‘Korea-ASEAN Economic and Trade Tank Dialogue’ to ‘Korea Solidarity Initiative- ASEAN (KASI)’, to implement the Korean government’s ASEAN policy framework. . It received a positive response from member countries. This think tank, which will operate starting next year, will become an important platform to open a new cooperative relationship between Korea and ASEAN over the next 35 years.

Securing reliable partners in a rapidly changing global economic environment and establishing a system of cooperation that can overcome crises with them is at the heart of economic security. At a time when new export markets and production centers are desperately needed, we need to develop partnerships so that Korean companies can leap forward using the rapidly growing ASEAN as a stepping stone.