Korea's Readiness for the ASEAN Economic Community

Sungil Kwak and Jegook Kim ()
Additional contact information
Jegook Kim: Korea Institute for International Economic Policy

No 16-24, World Economy Brief from Korea Institute for International Economic Policy

Abstract: In December 2015, ASEAN Member States (AMS; 10 countries in Southeast Asia) announced launching ASEAN Community, including ASEAN Economic Community (AEC). - The AEC's establishment in 2015, in fact, was progress toward, rather than a completion of, economic integration. - Complete integration will not be an easy task to achieve in the short term, given the fact that AMS are greatly diverse in terms of economic structure and development levels. However, their aspiration to reach the completion of AEC will push them to realize their goals soon. Therefore, Korean firms and the government must be ready to cooperate with the new economic bloc representing a population of 600 million, and $ 1.7 trillion in GDP. - There exist disparities among firms in terms of their awareness of or information on the AEC. - Although the Korean government's response to the AEC launch should be more strategic, the action it took last January was tentative. The Korean government should prepare more concrete strategies in response to the changes in the ASEAN region.

Keywords: AEC; Korea; Public And Private Sector (search for similar items in EconPapers)
Pages: 6 pages
Date: 2016-10-15
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.kiep.go.kr/gallery.es?mid=a10105040000 ... ist_no=4994&cg_code= Full text (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ris:kiepwe:2016_024

Access Statistics for this paper

More papers in World Economy Brief from Korea Institute for International Economic Policy [30147] 3rd Floor Building C Sejong National Research Complex 370 Sicheong-daero Sejong-si, Korea. Contact information at EDIRC.
Bibliographic data for series maintained by Geun Hye Son ().