ADVANCING REGIONAL ECONOMIC INTEGRATION: CO-OPERATION BETWEEN THE REPUBLIC OF KOREA AND ASEAN
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The purpose of this study is to propose a model of regionalism, focusing on the ROK and ASEAN, and examine how the two entities have an economic influence in advancing regional integration in East Asia. The ROK supports various economic and social programmes in ASEAN. In terms of trade, investment and movement of skilled workers has contributed substantially to intra-regional trade. This research analyses the extent to which regional integration between the ROK and ASEAN has developed and is tested by multiple regression analysis using panel data. The period of analysis of regional economic integration was from the establishment of ASEAN+3 in 1997 and the AEC in 2015. The results of the analysis show that the ROK’s economy has a positive influence on regional integration in the ASEAN region. This result shows that the level of free trade and standardisation of economic regimes for regional economic integration in ASEAN and ROK is significant.
Abstract
The purpose of this study is to propose a model of regionalism, focusing on the ROK and ASEAN, and examine how the two entities have an economic influence in advancing regional integration in East Asia. The ROK supports various economic and social programmes in ASEAN. In terms of trade, investment and movement of skilled workers has contributed substantially to intra-regional trade. This research analyses the extent to which regional integration between the ROK and ASEAN has developed and is tested by multiple regression analysis using panel data. The period of analysis of regional economic integration was from the establishment of ASEAN+3 in 1997 and the AEC in 2015. The results of the analysis show that the ROK’s economy has a positive influence on regional integration in the ASEAN region. This result shows that the level of free trade and standardisation of economic regimes for regional economic integration in ASEAN and ROK is significant.
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