Economic cooperation between ASEAN and Republic of Korea: development process and prospects

Abstract

The article discusses the economic cooperation between ASEAN and Republic of Korea, whose role
in the world is very important. The Republic of Korea in a short period of time transformed from an agrarian state
into a high-tech center, thereby taking 12th place in the economic sphere of the world and the 4th place in Asia.
Today, South Korea plays a leading role in the political, economic and socio-cultural environment. The region of
South-Еast Asia, in turn, is located in an important geopolitical territory. And this region has a high economic and
strategic importance. Ten countries of region united by the Association of South-East Asian Nations (ASEAN). Since
the establishment of the ASEAN, it has promoted itself as one of the fastest growing regional groups in the world.
There is an important feature in the development of the state economy of almost all countries in this region. They all
departed from the system of the internal market with the direct participation of the state and work on external exports.
This strategy, in turn, opened the way for interstate economic cooperation in the region. One of the main partner of
ASEAN in foreign economic policy is the Republic of Korea. The scale of the bilateral partnership is expanding from
year to year and giving good results.