In his keynote address at the recently held ST Global Outlook Forum last month, Kishore Mahbubani, dean of the Lee Kuwan Yew School of Public Policy, confidently stated that Asia will experience “a new golden era of peace and prosperity over the next 10 years.” With an exploding middle class population and China fast on the heels of the United States in purchasing power parity, few can argue otherwise. The media has also been extensively covering Asia’s burgeoning growth and phrases like “pivot to Asia” and “Look East Policy” are no longer unfamiliar buzzwords to the international community.

In the heart of Asia’s rapid growth lies ASEAN, a region gaining spotlight for its endless potential and vibrant culture. With a soon-to-be integrated single market of 640 million people and a gross domestic product of $3 trillion, ASEAN is increasingly pulling its weight in contributing to Asia’s burgeoning growth and emerging as the world’s new growth engine.

Aside from its booming economic market and strong workforce, ASEAN is being labeled as East Asia’s most promising consultative body. Major world powers once again renewed their support for ASEAN at various meetings this year, including the East Asia Summit, ASEAN+3 Meeting and the ASEAN Regional Forum ― the only multilateral security forum North Korea is part of. With tensions among Northeast Asian countries still icy, ASEAN can play an important role in establishing a peaceful East Asia Community.

ASEAN has been working closely with Korea since the two regions established Sectoral Dialogue Partnership in 1989, and the year 2014 marks a very special milestone in their friendship. Korea will be hosting the ASEAN-Korea Commemorative Summit on Dec. 11-12, the first multilateral meeting held in the country since the launch of the Park Geun-hye administration. Under the theme of “Building Trust, Bringing Happiness,” the leaders of Korea and ASEAN member states will gather in Busan to reflect upon the last 25 years of friendship. Most importantly, they will draw up a blueprint to forge stronger cooperative ties for the next 25 years and beyond.

Bilateral ties have continued to strengthen since ASEAN-Korea relations were first established and the numbers prove it: 5 million people have visited ASEAN the previous year alone, making it the most popular region for Korean tourists. Trade between the two sides has increased sixteenfold over the last 25 years and this number is expected to rise with the conclusion of negotiations for further liberalization of the ASEAN-Korea FTA.

Korea has also been funding various projects in ASEAN Member States ― most notably the Saemaul Undong. As a rural-development program that aims to trigger social change, the Saemaul Undong is receiving much spotlight, even being hailed as an ideal development model for several ASEAN countries. As such, Korea understands the importance of contributing to regional growth more than any other country, having been one of the world’s poorest countries before experiencing unprecedented economic development. Developing ASEAN member states share a similar narrative with Korea, making the relationship between the regions all the more special.

As ASEAN and Korea’s economic and political partnership continue to strengthen, the two regions are working on intensifying people-to-people exchange, namely by establishing the “ASEAN Culture House” in Busan. Set to open in 2017, it will showcase ASEAN’s rich and vibrant culture through various exhibits, performances, and special events all year round, bringing the people of the two regions closer together and shaping the Korean public’s understanding of Southeast Asian culture.

As Mahbubani mentioned in his keynote address, all signs are pointing toward a golden era for Asia. ASEAN and Korea thus hope to play a pivotal role in the coming decades by strengthening cooperative ties at the upcoming ASEAN-Korea Commemorative Summit. With the international community anticipating the successful launch of the ASEAN Community next year, I am confident that the Commemorative Summit will serve as the ideal gateway for shared peace, shared prosperity, and shared progress in East Asia. 

By Esther Oh

Esther Oh is a program manager at the Foreign Ministry’s ASEAN Cooperation Division. ― Ed.