RoK, five ASEAN countries sign MOU on development assistance hinh anh 1At the signing ceremony (Source: VNA)

Busan (VNA) – The Republic of Korea (RoK) and five member states of the Association of Southeast Asian Nations (ASEAN) on November 25 signed a memorandum of understanding (MOU) on boosting development cooperation on the sidelines of the ASEAN-RoK Commemorative Summit in Busan, the RoK.

Under the MoU, the RoK and the five ASEAN countries of Cambodia, Laos, Myanmar, the Philippines and Vietnam, will bolster exchanges and initiatives in potential fields with practical significance such as tertiary education, smart city and transport.

The signing of the document is an important milestone in the RoK-ASEAN partnership.

On the occasion, Vietnam’s Minister of Planning and Investment Nguyen Chi Dung highlighted the strong growth and remarkable achievements in the 30-year partnership between the RoK and ASEAN countries.

He said the RoK has become a reliable key partner of the ASEAN through diverse and effective assistance and support in both bilateral and multilateral frameworks.

“Development cooperation is really a bright spot, contributing to boosting RoK-ASEAN ties and supporting rapid and sustainable development in ASEAN countries, especially the ASEAN-6 group, thus reducing the gap between them and advance countries in the world,” Dung said.

RoK Foreign Minister Kang Kyung-wha said Southeast Asia receives 25 percent of the RoK’s ODA to capital, and the RoK is striving to realize President Moon Jae-in’s pledge to increase ODA to ASEAN by more than two times before 2022 under the New Southern Policy./.