President Lee Myung-bak arrived in Seoul on November 22, after taking part in a series of regional meetings in Indonesia, the current host of the Association of Southeast Asian Nations (ASEAN), followed by a three-day state visit to the Philippines.

During his stay in Bali, President Lee strived to substantially enhance bilateral and multilateral cooperation within the context of the regional milieu, attending the three major forums ASEAN-ROK, ASEAN Plus Three, and the East Asia Summits. Since his November 17 arrival at the Indonesian resort city, the Korean president held a relay of one-on-one summit talks with the leaders of Indonesia, the Philippines, and Australia alongside a Trilateral Summit Meeting to discuss taking steps forward in partnering with each nation.

ASEAN has emerged as the second largest partner to Korea, after China in terms of trade, and after the European Union in volume of investment. At the ASEAN-ROK summit on November 18, President Lee announced a plan to forge enhanced links with ASEAN through the establishment of a new diplomatic delegation body of the Republic of Korea in Jakarta, Indonesia, in 2012.

As the talks revolved around the issues of trade, President Lee and his ASEAN counterparts positively assessed the outcome of the Korea-ASEAN free trade agreement. Coming into effect in 2007, the Korea-ASEAN FTA is contributing to two-way commerce, anticipated to shatter records this year.

The heads of states agreed to further deepen cooperation on follow-up measures for effective implementation of the FTA, and welcomed signing of the amended protocols for the Korea-ASEAN Trade in Goods Agreement.

Thailand and several other ASEAN nations allegedly showed interest in Korea sharing its development experience and called for the active participation of Korean corporations in infrastructure construction projects.

While offering words of consolation to recent flood victims in nations of the region, including Thailand, Cambodia and Vietnam, President Lee volunteered to share the know-how of Korea’s Four Rivers Restoration Project, which has resulted in lowering damage caused by natural disasters.

During the ASEAN Plus Three Summit, President Lee placed a special focus on the framework of the Chiang Mai Initiative for Multilateralization (CMIM) playing a key role in dealing with regional liquidity issues against the high vulnerability of the region. The issue of financial cooperation was one of the main topics of the East Asia Summit held the following day on November 19, as well. In this regard, the Korean leader stressed the need for further elevating cooperative measures to cope with the current global financial crises and prepare for future. 

At the Trilateral Summit Meeting held ahead of the East Asian Summit, President Lee and his counterparts Japanese Prime Minister Yoshihiko Noda, and Chinese Premier Wen Jiabao discussed Korean Peninsular affairs and how to maintain regional peace, including a resolution on the North Korean nuclear issue.

After wrapping up a crowded schedule in Bali, President Lee then flew to Manila for a state visit, at the invitation of President Benigno Aquino III of the Philippines.

During the bilateral summit conducted on November 21, President Lee and his Pilipino counterpart agreed to reinforce bilateral cooperative measures in the economic, agriculture, and energy sectors.

President Lee pledged the unstinted support of the Korean government to grant concessional and non-concessional aid for development initiatives in line with the Philippines Development Plan of 2011-2016. On the sidelines of the presidential visit, the two parties sealed accords on the construction of the Jalaur River Multipurpose Dam in Iloilo and a coal-fueled power plant in the Subic Bay Economic Zone.  

The Korean president also attended the Korea-Philippines CEO Roundtable and Business Forum on November 21, where he called for expanded corporate investment and civic exchanges and encouraged the building of new models of bilateral cooperation in a wide range of business sectors.

The forum was followed by a state banquet hosted by the Philippine president. “Korea and the Philippines have formed a solid alliance over the past six decades of diplomatic relations,” said President Lee as he proposed a toast. He also mentioned the reaffirmed commitment of the two sides to further nurture a more focused and dynamic partnership as strong allies bound by friendship dating back to 1950s, recalling the participation of the Philippine Expeditionary Forces in the Korean War. 

Earlier on November 20, President Lee paid a visit to the Korean War Memorial in the Philippine capital for a wreath-laying ceremony. He met with Pilipino war veterans and paid his respects to their participation to the Korean War. Among the war veterans present that day was the former President of the Philippines Fidel Ramos, who served in the Korean War and has contributed to strengthening the bilateral friendship.