ASEAN and South Korea push for deeper, practical trade partnership amid global tensions

At the Philippine International Convention Centre in Pasay City, ASEAN economic ministers gathered with their South Korean counterparts for the 23rd ASEAN-ROK Consultation. Trade Secretary Ma. Cristina Roque and South Korean Trade Minister Park Jung-sung co-chaired the meeting, which focused on the impact of rising geopolitical tensions, unilateral trade measures and regional conflicts on the rules-based order.

The ministers said these pressures increase costs for businesses, fuel inflation and create an unpredictable environment for micro, small and medium enterprises. They stressed that a closer, more practical economic partnership between ASEAN and the Republic of Korea is both essential and urgent. Negotiations have begun to upgrade the ASEAN-Korea Free Trade Area, targeting supply-chain links, energy, raw materials, sustainable development, the green and digital economies, and industrial resilience.

The dialogue also highlighted South Korea’s proposal for a partnership on resilient industrial supply chains and the ongoing Technology Advice and Solutions from Korea Programme involving seven ASEAN members. Officials aim to reach a substantial conclusion of the negotiations by 2027.