In June 2009, the leaders of Korea and the ten ASEAN member countries met in Jeju for the ASEAN-Republic of Korea Commemorative Summit. At that historic meeting, the eleven leaders recognized that Korea and ASEAN had been developing a mutually beneficial relationship over the past twenty years. The summit took place also in the context of Korea's efforts to strengthen its relations with ASEAN through the New Asia Initiative.

The world's economic centre of gravity is shifting towards the continent. Korea, as an Asian economic powerhouse, and ASEAN — a potential economic heavyweight in Asia on account of its population, its growth rates (dented but not destroyed by the global crisis), and attractiveness to foreign investors — enjoy natural points of compatibility and convergence that can solidify their cooperation in the years ahead. Cooperation is something that policy-makers in Korea and the ASEAN capitals must work towards if the region at large is to fulfil its potential.

Unfortunately, Asia is home to several security challenges as well. The actions of the North Korean Government in upping the strategic stakes in Northeast Asia are a case in point. Terrorism remains a problem in Southeast Asia. As two responsible stakeholders in the international system, South Korea and ASEAN have a common interest in ensuring peace, stability, and prosperity in the two Asian sub-regions. One important point to remember is that they can achieve much because both are nonthreatening international actors whose benign intentions are recognized by others as well.

Finally, the importance of people-to-people ties cannot be overestimated. The peoples of Korea and ASEAN must see themselves as culturally fellow-Asians if the new Asia is to take its place at the table of the great powers.