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Mekong-Republic of Korea Cooperation

Korea - ASEAN Solidarity Initiative (KASI)

The Korea-ASEAN Solidarity Initiative (KASI) marks a significant regional policy introduced by the Republic of Korea to strengthen its partnership with the Association of Southeast Asian Nations (ASEAN). Recognizing ASEAN as a pivotal ally for fostering peace and shared prosperity in the Indo-Pacific, South Korea has aligned KASI within the framework of the Indo-Pacific Strategy. This initiative reflects a commitment to building on existing robust partnerships that span trade and socio-economic cooperation. Emphasizing a comprehensive and strategic partnership with ASEAN, KASI outlines strategic goals to enhance collaboration in various domains, including economic development, regional security, and cultural exchange. The initiative underscores South Korea's dedication to moving beyond traditional partnerships and working towards a more multifaceted and enduring relationship with ASEAN, signaling a commitment to contribute to the broader stability and prosperity of the Indo-Pacific region.

Mekong-Korea Cooperation-Program (MKCP)

To establish the Mekong-Korea Comprehensive Partnership for mutual prosperity, the Han River declaration was agreed during the 1st Mekong-Korea Foreign Minister Meeting (FMM) in 2011—the partnership aimed at promoting friendship and cooperation between the Mekong region countries and the ROK. In addition, the partnership mechanism is also be supported by a Mekong-ROK Senior Officials' Meeting (SOM) which will be conducted prior to the Ministers' Meeting. The Mekong-Korea Cooperation has been elevated to the strategic partnership level in 2019 marking its 1st summit in Busan, Korea.

Mekong-Korea Cooperation Framework

Mekong-Republic of Korea Cooperation Fund (MKCF)

After the initiation of the Mekong–Republic of Korea (ROK) partnership in 2011, the Mekong Republic of Korea Cooperation Fund (MKCF) was established in 2013 to foster and facilitate collaboration in six priority areas/sectors, as outlined in the Han River Declaration of 2011. These priority areas include: 1) Infrastructure; 2) Information Communication Technology (ICT); 3) Green Growth; 4) Water Resource Development; 5) Agriculture and Rural Development; and 6) Human Resource Development.

In 2019, the Mekong-ROK Foreign Minister Meeting addressed the evolving dynamics and needs of the Mekong countries. Following these discussions, priority areas and sectors for cooperation were identified, encompassing: 1) Culture and Tourism; 2) Information Communication Technology (ICT); 3) Environment; 4) Infrastructure; 5) Agriculture and Rural Development; 6) Human Resource Development; and 7) Non-traditional Security Challenges.

To fund the MKCF, an annual contribution from the ROK to the Mekong Institute (MI) was agreed upon by the five Mekong countries (Cambodia, Lao PDR, Myanmar, Viet Nam, and Thailand) and the ROK. The MKCF is managed by Mekong Institute (MI) under the Terms of Reference adopted at the 3rd Mekong – ROK Foreign Ministers' Meeting in July 2013 in Bandar Seri Begawan, Brunei Darussalam. Furthermore, at the 5th Mekong – ROK Foreign Ministers' Meeting in August 2015 in Kuala Lumpur, Malaysia, the Ministers recognized the necessity for more efficient management of the MKCF and designated Mekong Institute as the Coordinator for the MKCF.

Structure of Mekong-Republic of Korea Cooperation Fund (MKCF)