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Korea and ASEAN

Korea and ASEAN Relations

Political and Diplomatic Relations
  • The Republic of Korea has diplomatic relations with all 10 ASEAN Member States.
    ※Democratic People’s Republic of Korea also has diplomatic relations with all 10 ASEAN Member States.
  • Korea and ASEAN actively have summits and ministerial conferences on the occasion of bilateral visits and multilateral meetings.
  • Korea and ASEAN hold the ASEAN-ROK Summit and the ASEAN-ROK Foreign Ministers’ Meeting annually.
  • Korea and ASEAN has regular dialogues and consultations through the ASEAN-ROK Dialogue.
  • Mutual visits by the leaders of Korea and ASEAN have continued to increase.
Economic Relations (as of 2018)

◎ Trade: In 2018, the trade volume between Korea and ASEAN reached $159.74 billion ($100.11 billion in exports and $59.63 billion in imports), making ASEAN Korea’s second-largest trading partner.

[source: K-stat and the Korea Customs Service, unit: million dollars]

pc-한-아세안 경제 관계에대한 그래프 이미지(하단 테이블 참고) 모바일-한-아세안 경제 관계에대한 그래프 이미지(하단 테이블 참고)
Economic Relations (as of 2018)
Exports Imports Trade balance Total trade volume
2009
40,979.1
34,053.3
6,925.8
75,032.4
2010
53,195.3
44,098.9
9,096.3
97,294.2
2011
71,801.4
53,120.6
18,680.7
124,922.1
2012
79,145.1
51,977.2
27,167.8
131,122.4
2013
81,996.8
53,339.0
28,657.7
135,335.8
2014
84,577.3
53,417.7
31,159.5
137,995.1
2015
74,824.3
45,030.6
29,793.6
119,855.0
2016
74,517.8
44,319.1
30,198.6
118,836.9
2017
95,248.2
53,821.6
41,426.5
149,069.9
2018
100,113.8
59,627.9
40,485.8
159,741.7
스크롤

◎ Investment: Korea invested $8.59 billion in ASEAN in 2018, making ASEAN Korea’s third-largest investment destination (based on reported amounts).

[source: Korea Eximbank, unit: million dollars]

pc-한-아세안 경제 관계에대한 그래프 이미지(하단 테이블 참고) 모바일-한-아세안 경제 관계에대한 그래프 이미지(하단 테이블 참고)
Infrastructure construction contract
Year 2013 2014 2015 2016 2017 2018 total
ASEAN to Korea
number of cases
186
223
215
261
274
316
4,448
amount
620
1,790
2,850
2,460
3,560
1,540
31,300
Korea to ASEAN
number of cases
2,477
2,569
2,851
3,440
3,826
4,241
42,459
amount
4,580
4,960
6,400
6,210
6,190
8,590
93,510
number of new corporations
690
781
868
1,010
1,076
1,230
14,092
스크롤

※ amount: reported amount (actual amount)

◎ Infrastructure construction contracts
As of 2018, the infrastructure construction contracts signed between Korean companies and ASEAN countries amounted to $11.9 billion, which accounted for 37.1% of the total amount of Korean companies’ overseas contracts. This makes ASEAN the largest source of overseas construction revenue for Korean businesses surpassing $9.2 billion (29%) from the Middle East.

[source: International Contractors Association of Korea, unit: 1,000 dollars]

Economic Relations (as of 2018)
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
5,486,634
8,259,224
12,831,879
11,046,139
14,640,243
10,808,050
10,885,250
8,784,043
6,299,219
11,926,290
스크롤

※ Note: The annual figures shown above are based on contract price.

People-to-people Exchanges

◎ People-to-people exchanges: The number of visitors between Korea and ASEAN countries reached about 11.44 million in 2018.
(Korea→ASEAN: approximately 8,981,000 people, ASEAN→Korea: approximately 2,462,000 people)

[Unit: persons / Source: KTO]

People-to-people exchanges
People-to-people exchanges
Visitors from ASEAN to Korea Visitors from Korea to ASEAN Total
2009
860,741
2,465,995
3,326,736
2010
1,127,821
3,298,640
4,426,461
2011
1,243,779
3,866,839
5,110,618
2012
1,398,544
4,453,939
5,852,483
2013
1,554,473
4,879,144
6,433,617
2014
1,790,568
4,954,781
6,745,349
2015
1,608,381
5,841,290
7,449,671
2016
2,216,036
6,432,862
8,648,898
2017
2,140,266
7,878,033
10,018,299
2018
2,462,080
8,981,113
11,443,193
스크롤

※ The statistics on the number of Korean visitors to each ASEAN country have been unannounced or announced in different time periods depending on the circumstances of ASEAN member states.

Importance of the Korea-ASEAN Relations

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