Congratulatory Address at the International Seminar on "Post-Corona New Southern Policy Development Directions"
Jointly Hosted by the Institute for Foreign Affairs, New Southern Policy Special Committee, and the National Research Council for Economics, Humanities and Social Sciences
The scene from the '51st ASEAN Foreign Ministers' Meeting' (AMM) held in 2018. (Image source=AP Yonhap News)
[Asia Economy Reporter Moon Chaeseok] "We need to develop an advanced plan reflecting changes in the economic, social, and policy environment and demand caused by the restructuring of the global value chain (GVC) triggered by the spread of the novel coronavirus infection (COVID-19) to enhance the sustainability of the New Southern Policy. In particular, it is necessary to expand potential cooperation demand in areas such as comprehensive health and medical cooperation, the digital economy, and building resilient GVCs." (Kim Heung-jong, President of the Korea Institute for International Economic Policy)
On the 14th, the Korea Institute for International Economic Policy held an international seminar titled "Development Direction of the New Southern Policy in the Post-COVID Era" at the Westin Chosun Hotel in Seoul. The seminar was hosted by the New Southern Policy Special Committee and the National Research Council for Economics, Humanities and Social Sciences, and organized by the Korea Institute for International Economic Policy.
At the seminar, the significance of the Moon Jae-in administration’s New Southern Policy was reaffirmed, and new visions, goals, directions, and key cooperation tasks for the post-COVID era were discussed. Ambassadors from New Southern Policy countries residing in Korea, key policy officials related to the New Southern Policy, and heads of research institutions attended the seminar. Seong Kyung-ryung, Chairman of the National Research Council for Economics, Humanities and Social Sciences; Park Bok-young, Chairman of the New Southern Policy Special Committee; President Kim; and Ambassador Ong Keng Yong (former ASEAN Secretary-General) delivered opening remarks, welcome speeches, and congratulatory addresses respectively.
Joint Response in Healthcare, Digital Transformation, and GVC... Policy Advancement Needed to Enhance Sustainability
Chairman Seong evaluated in his opening remarks that the New Southern Policy has achieved results such as increased mutual visitors and trade volume between Korea and the New Southern region. He expressed hope that the seminar would serve as a forum to advance the New Southern Policy and explore opportunities for cooperation, as the policy needs to reach a new stage based on new goals.
Chairman Park explained the significance and achievements of the launch of the New Southern Policy in his welcome speech and mentioned that COVID-19 has become a new turning point for setting future policy directions. He specifically announced that an upgraded version of the New Southern Policy is being prepared, focusing on ▲strengthening health and medical cooperation including COVID-19 prevention response ▲pursuing inclusive growth ▲joint response to GVC restructuring ▲successful transition to the digital economy.
Ambassador Ong Keng Yong emphasized in his congratulatory address that every crisis contains both opportunities and challenges. He stressed that this seminar would be an opportunity to strengthen mutual development and partnership between Korea and ASEAN.
President Kim, in his congratulatory remarks, mentioned that although Korea and the New Southern region share a long history of exchanges, comprehensive cooperation has been delayed so far, and he hoped the seminar would serve as a momentum to reaffirm the commitment to advancing the New Southern Policy.
He stressed the need to enhance the sustainability of the New Southern Policy. To this end, he called for the establishment of advanced measures addressing GVC restructuring, acceleration of digital transformation, and increased attention to non-traditional human security.
In particular, he emphasized the need to expand potential cooperation demand in areas such as ▲comprehensive health and medical cooperation ▲digital economy ▲building stable and resilient GVCs.
Focused Discussion on Korea’s New Southern Policy from ASEAN and India Perspectives
In Session 1, President Kim chaired a discussion with ambassadors from ASEAN and India residing in Korea under the theme "The New Southern Policy Seen from ASEAN and India."
President Kim emphasized that the ultimate goal of the New Southern Policy is to form a partnership based not only on Korea’s perspective but also on the viewpoints and cooperation demands of India and ASEAN. Yeoh Han-koo, Secretary for New Southern and New Northern Policies, shared various opinions on the achievements and future tasks of the New Southern Policy.
In Session 2, chaired by Professor Kim Hyun-chul of Seoul National University, the upgraded direction of the New Southern Policy in the post-COVID era was comprehensively reviewed.
Senior Research Fellow Jung Young-sik of the Korea Institute for International Economic Policy proposed improvements to the New Southern Policy, including ▲balance and harmony in the policy system ▲selection and concentration based on strengths and demands ▲customized implementation by region and country ▲strengthening cooperation channels. These proposals were based on global environmental changes and policy demand surveys targeting New Southern Policy stakeholders.
Following this, Mohan Kumar, Director of the Research and Information System for Developing Countries (RIS) in India; Sok Touch, President of the Royal Academy of Cambodia (RAC); Philips Vermonte, Director of the Center for Strategic and International Studies (CSIS) in Indonesia; Herizal Hazri, Director of the Institute for Strategic and International Studies (ISIS); and Celia Reyes, President of the Philippine Institute for Development Studies (PIDS), all heads of major research institutions in the New Southern region, presented their views on the future direction of the New Southern Policy.
In Session 3, chaired by Professor Choi Won-ki of the Korea National Diplomatic Academy, in-depth discussions were held on detailed cooperation tasks between Korea and the New Southern region focusing on GVC, health, and digital sectors.
Invited Research Fellow Choi Nak-gyun of the Korea Institute for International Economic Policy presented on the global trade environment in the post-COVID era, changes in the New Southern region’s GVC, and policy implications. Professor Yoon Sang-chul of Yonsei University spoke on ICT-based healthcare cooperation for epidemic control, medical education, and service quality improvement. Professor Lee Choong-yeol of Korea University presented on fintech cooperation with the New Southern region.
Following these, experts from the New Southern region, including Professor Suthiphand Chirathivat, Emeritus Professor at Chulalongkorn University in Thailand; Alistair D. B. Cook, Senior Research Fellow at the International Graduate School of Nanyang Technological University in Singapore; Dang Quang Vinh, Professor at Vietnam National University; and Jaijit Bhattacharya, Director of the India Digital Economy Policy Institute, engaged in sectoral discussions.
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