Seoul (VNA) – Sectors that are inviting investment, alongwith investment incentives and benefits, in special economic zones andindustrial parks of ASEAN countries were introduced to businesses of theRepublic of Korea (RoK) at a workshop held in Seoul on October 6.

The event, organised both in person and virtually by the ASEAN - Korea Centre(AKC) in coordination with the RoK Committee on the New Southern Policy, theKorea International Trade Association (KITA), and the Korea Trade-Investment Promotion Agency (KOTRA), aimedto promote Korean enterprises’ investment and business activities in ASEAN inthe post-pandemic period.

In his opening remarks, AKC Secretary General Kim Hae-yong said despitechallenges amid the COVID-19 pandemic, ASEAN and the RoK remain steadfastpartners of each other in five straight years, and the bloc became the second largestinvestment destination of Korean companies in 2020.

He noted special economic zones and industrial parks have helped attractglobal businesses to ASEAN thanks to greater conditions fortrading activities and many different incentives. Particularly, the zones havebeen drawing more and more attention from investors who are seeking todiversify supply chains.

The World Economic Forum forecast that in the next decade, ASEAN willbecome the world’s fourth biggest economy with total GDP of about 4 trillionUSD, which is why even amid the peak of the pandemic, about 17,000 Koreancompanies still operate in ASEAN countries, according to Kim.

Emphasising the RoK’s New Southern Policy, Vietnamese Ambassador to theRoK Nguyen Vu Tung held that this policy has opened up more opportunities forthe cooperation between the RoK and ASEAN members.

ASEAN is viewed as an important partner in the RoK’s New SouthernPolicy. More than 17,000 Korean companies are operating in various industriesin this region, from manufacturing, infrastructure building to energy, finance -banking, and services. The bloc has also capitalised on its role as thestrategic manufacturing centre and consumption market of many multinationalenterprises.

Some economists said despite COVID-19 and global uncertainties due totrade disputes, ASEAN remains a growth driver thanks to its solid economicfoundations and commitment to global economic integration./.