Seoul turning its focus on Asean

In 2017, the newly elected President of South Korea, Moon Jae-in, made the unprecedented move to enhance his country's relationship with countries in the Association of Southeast Asian Nations (Asean) by introducing the "New Southern Policy" (NSP) during a state visit to Indonesia.

One of the NSP's main goals is to create diplomatic and multilateral economic platforms amid unpredictable geopolitics caused by the mercurial Trump administration back then, and the rising Chinese influence in East and Southeast Asia.

The NSP was pushed forward in the hopes of advancing South Korea's relations with Asean and India, both of which have already had significant diplomatic relationships with China, Japan, the United States, and Russia.

The timing of the NSP can also be attributed to the continuing cultural and economic success that South Korea has enjoyed over recent decades, as a result of its booming popular culture scene and growing industrial strength. The former has gained significant popularity in the region, with South Korean pop songs, dramas and celebrities achieving both fame and adoration across Southeast Asia. Distinguished by its uniquely South Korean characteristics and attributes, the phenomenon has been branded by the international media as "the Korean wave", or "Hallyu" in Korean.

The success of the Korean Wave has been such that South Korean popular culture has replaced American and Japanese pop culture among teens and adolescents in Southeast Asia.

While the upsurge in South Korea's economic interactions with Southeast Asia in the last couple of decades has been propelled by private companies, the South Korean government has also played a leading role in facilitating the growth. This is particularly evident in the implementation of FTAs with Asean and Vietnam in 2006 and 2015 respectively. Under the terms of the FTAs negotiated by the South Korean government, the country's private sector benefited from information sharing and financial support, which enabled many South Korean companies to enter Southeast Asian markets.

As a result, South Korea's standing on the global stage is now largely defined by the Korean Wave, while its international trade is distinguished by its huge manufacturing firms located in Southeast Asia, particularly in Vietnam, which has benefitted significantly from South Korean investments.

Source: Bangkok Post