Speech by H.E. CHO Hyun,
Vice Minister of Foreign Affairs
for the OECD South East Asia Regional Program(SEARP)
Ministerial Conference
Tokyo, March 8, 2018

Excellencies, Distinguished Delegates, Ladies and Gentlemen,

I would like to begin by thanking our colleagues from Japan and OECD, for organizing this meaningful event.

I also would like to take this opportunity to express my appreciation for the work of Japan and Indonesia in successfully building up the first phase of SEARP as Co-Chairs.

OECD has been a trusted partner of Korea throughout our turbulent economic journey for more than two decades - from implementing the structural reform in the late 1990s to the attainment of a per capita GNI of nearly thirty-thousand dollars.

OECD’s pursuit of Inclusive Growth Initiative has inspired our economy in the recent years as well. In line with OECD’s emphasis on Inclusive Growth, Korea is striving to ensure that all people enjoy equal opportunities and the fruits of growth through our ‘people-centered economy.’ It is based on a number of principles: wage-led growth, economy creating more jobs, fair competition and growth through innovation.

We believe that OECD's Inclusive Growth Initiative and Korea's people centered economy have many elements in common with ASEAN's regional initiatives for inclusive growth.

In this regard, Korea is determined to expand its endeavors for inclusive growth to our friends in ASEAN, not only at the inter-governmental level, but through engaging all relevant stake-holders. Our ‘New Southern Policy’ of the new government reflects our orientation towards this ‘people-centered economy.’

In November last year, President Moon announced that Korea seeks to elevate the relations with ASEAN through bolstered cooperation, in keeping with the principle of putting People, Prosperity, and Peace to the forefront.

This means that the relation between Korea and ASEAN will not be confined to economic cooperation but encompass common endeavors for people-to-people exchange and peace, therefore creating a ‘Korea-ASEAN Community for the Future.’

Let me share what happened on the Korean Peninsula most recently, because it is related with inclusiveness from a different angle. Korea hosted the PyeongChang Winter Olympics Games which was very peaceful against all odds. The Korean government, however, went further to take own steps to open inter-Korean dialogues throughout the PyeongChang Olympics, thus thawing the tension on the Korean peninsula.

I express my sincere gratitude to you for supporting us in successfully hosting this year’s Winter Olympics as the Olympics for Peace. And I also call on your continued support for Korea’s unwavering endeavor for peace on the Korean Peninsula and for the PyeongChang Paralympics which begins tomorrow.

Let me come back to the concept of inclusiveness in the OECD and say how we can enhance and contribute to is as co-chairs. We believe that enhancing connectivity is very important in realizing our vision of a ‘Korea-ASEAN Community for the Future.’ Adding to our endeavors to increase the people-to-people connectivity with ASEAN through our New Southern Policy, we are committed to step up cooperation in four key areas – transportation, energy, water resources, and smart city.

Through the joint projects on metro and railway networks, renewable energy generation, and river development with Vietnam, Indonesia, Thailand and many more ASEAN members, Korea will support ASEAN in achieving the strategic objectives of the MPAC 2025.

Korea is also ready and willing to share the experience of building smart cities and participating in smart city initiatives in ASEAN such as Singapore’s Smart Nation project. In this context, we welcome that ‘smart cities’ has been decided as a special theme of this year’s OECD Economic Outlook for Southeast Asia, China, and India (SAEO).

Finally, as a country whose economy is heavily dependent on trade, Korea has greatly benefited from our access to the international market. In these days when protectionism is rising worriedly in some countries, we are committed to fostering a more open global economy. As our president declared in November last year, we are willing to pave the way for liberal trade and increased connectivity in ASEAN by accelerating negotiations to upgrade the existing Korea-ASEAN Free Trade Agreement.

Korea, as the next Co-Chair of SEARP, is deeply committed to playing a leading role for a successful second phase. In doing so, we will attach deep importance to the concept of connectivity. I look forward to taking away valuable inputs from our friends from ASEAN and OECD.

Thank you.