The state-run Korea Trade-Investment Promotion Agency met with the chiefs of its Southeast Asian and Southwest Asian centers, seeking to expand investment and economic cooperation in the regions, officials said Sunday.

“KOTRA will become the foundation for economic cooperation with ASEAN nations with the aim of achieving trade volume of $200 billion between Korea and ASEAN by 2020,” said Kwon Pyung-oh, the agency’s chief.

The agency’s blueprint for regional economic cooperation comes in step with the Moon Jae-in administration’s initiative to focus on ASEAN as a key trade partner.



The meetings were held in Bangkok and New Delhi last week and attended by KOTRA’s regional center chiefs. They focused on establishing sustainable and long-term platforms that fit regional economic aims, according to the office.

KOTRA is set to support 29 projects in the regions, including new renewable energy infrastructure in Vietnam, and waterway and logistics projects using the Mekong River in Cambodia. The agency will also support a project to convert waste into energy in Bengaluru and New Delhi.

The ASEAN Economic Community is expected to become the world’s fourth-largest economic bloc by 2030, according to KOTRA.



By Shin Ji-hye (shin@heraldcorp.com)