Daewoe-yeon Discusses Directions for Advancing the New Southern Policy Plus

Emphasizing the 'People-Centeredness' and 'Inclusive Shared Growth' of the New Southern Policy

President Moon Jae-in speaking at the Korea-ASEAN virtual summit held at the Blue House on the afternoon of the 12th. (Photo by Yonhap News)

[Asia Economy Reporter Moon Chaeseok] The Korea Institute for International Economic Policy (KIEP), a government-funded research institute, held the '5th KIEP New Southern Forum' on the 27th at the President Hotel in Seoul to discuss the background and tasks of promoting the 'New Southern Policy Plus.'

KIEP launched the 'New Southern Forum' in August 2018 and has been discovering strategies and policy tasks for establishing a new cooperation system with India and ASEAN (Association of Southeast Asian Nations).

The event, sponsored by the New Southern Policy Special Committee, was attended by experts from various fields including Cho Chungje, Director of KIEP's Center for World Regional Studies, and Ahn Byunghwa, Deputy Director of the New Southern Policy Promotion Team of the New Southern Policy Special Committee.

Director Cho said, "We expect that the New Southern Policy Plus will deepen mutually beneficial and sustainable win-win cooperation with India and ASEAN in line with changes in the post-COVID-19 era."

Deputy Director Ahn stated in his congratulatory remarks that the New Southern Policy Plus was prepared considering changes such as ▲ the outbreak of the novel coronavirus disease (COVID-19), ▲ acceleration of the transition to the digital economy, and ▲ reorganization of the global value chain (GVC), as well as the demands of partner countries.

Earlier, President Moon Jae-in announced the New Southern Policy Plus at the Korea-ASEAN Summit on the 12th.

Deputy Director Ahn emphasized, "Going forward, based on solidarity and cooperation with New Southern countries, let us strive to overcome the infectious disease crisis early and revitalize exchanges through economic recovery."

In the subsequent two sessions and free discussions, topics such as ▲ demand surveys on the New Southern Policy by domestic and foreign parties, ▲ background and direction of promoting the New Southern Policy Plus, and ▲ announcement of the seven key tasks of the New Southern Policy Plus were presented.

Experts participating in the free discussion emphasized the importance of mutually beneficial economic cooperation and cooperation in health and non-traditional security to realize the 'people-centered community of peace and prosperity' advocated by the New Southern Policy.