The President speaks at the start of the ASEAN-Korea Commemorative Summit on June 1.

The President announced an ambitious plan to increase support of the Korea-ASEAN (Association of Southeast Asian Nations) relationship by expanding Korea''s official development assistance to the association''s 10 member countries while boosting cultural and people exchanges.

In his opening remarks at the start of the two-day ASEAN-Korea Commemorative Summit on June 1-2 on Korea''s southern resort island of Jeju-do (Jeju Island), President Lee said Korea will double the annual volume of Korea''s official development assistance for ASEAN to $400 million by 2015. At the same time he praised the 20 years of growing ties between Korea and ASEAN.

He also promised to share Korea''s development expertise with other ASEAN nations, saying his country will provide tailor-made assistance that fits the unique needs of each ASEAN country.

The increase in Korea''s official development assistance is a part of the Lee administration''s “New Asia Initiative,” which seeks to lift Korea''s role in Asia.

Also, in order to increase cultural and people exchanges, President Lee also said that his country will invite 7,000 students and workers from ASEAN countries by 2015 for vocational training, while sending 10,000 Korean volunteers the other direction especially to share advanced technology in the information and telecommunications sectors.

To that end, Lee said the Korea-ASEAN Cooperative Fund will be increased to US$5 million by 2010, adding that some of the fund will be used to improve cultural and people exchanges in particular.

ASEAN comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.