Indonesian FM: Integrated ASEAN-South Korea Economic Partnership is First Step to Strengthening Cooperation

Indonesian Minister of Foreign Affairs Retno Marsudi stated at the Post-Ministerial Conference between ASEAN and South Korea in Manila, Philippines, that the development of an integrated ASEAN-South Korea economic partnership is the first step in strengthening cooperation between the two parties. She emphasized that strengthening the resilience of ASEAN and South Korea in facing crises must be the focus of future cooperation. "The development of a more integrated economic partnership between ASEAN and South Korea is a first step in strengthening cooperation between the two parties," said Minister Marsudi at the meeting, according to a release from the Indonesian Ministry of Foreign Affairs on Thursday (23/7). Furthermore, Minister Marsudi explained that the update of the free trade cooperation agreement between ASEAN and South Korea was carried out at the right time. "This update will make the economic partnership of the two parties more modern, forward-looking and more solid," she said. "The expansion of the digital trade market and other strategic sectors will open new opportunities for business actors and the wider community to increase cooperation," continued Minister Marsudi. Cooperation to encourage digital transformation, especially in building connectivity and digital literacy, is an area that needs to be developed. "For example, smart agriculture can further open access to markets and wider opportunities for farmers," said Minister Marsudi. It is known that ASEAN and South Korea last month began official talks to improve the free trade agreement (FTA), as part of ongoing efforts to expand bilateral relations in emerging areas, such as the digital economy and critical minerals, quoted from Yonhap. The talks, led by Director General of Trade Policy, Ministry of Trade, Industry and Resources of South Korea Park Geun-oh and Director General of ASEAN International Trade Alpana Roy, aimed to expand cooperation in the areas of digital economy, critical minerals and other new sectors. The launch of the ASEAN-Korea High Performance Computing Facility in Jakarta in June 2026 was also referred to by Minister Marsudi as a reflection of a shared commitment to improving capabilities for the use of artificial intelligence and data-based research throughout ASEAN. "In the end, resilience and peace and stability can only be achieved through multilateralism, respect for international law and confrontation of principles for peaceful resolution of conflicts," said the Indonesian Minister of Foreign Affairs. The Ginseng State and ASEAN signed a free trade agreement (FTA) for goods in 2006, followed by an agreement for services in 2007 and investment in 2009. ASEAN is currently South Korea's third largest trading partner, with Seoul having shipped goods worth US$122.5 billion to 11 member countries in 2025. South Korea and ASEAN are pushing to further improve their FTA after the issue was discussed at last year's annual summit. Trade partners have agreed to increase annual trade volume to US$300 billion by 2029.