Leaders of Korea and ASEAN pose after signing the joint press statement on June 2.

Leaders of Korea and the ten ASEAN member countries attending the ASEAN-Republic of Korea Commemorative Summit on Tuesday (June 2) signed a joint statement composed of 40 clauses in five sections.

In the joint statement, the leaders of the 11 countries recognized that Korea and ASEAN have been developing a mutually beneficial relationship over the past 20 years, while also mentioning Korea''s efforts to strengthen the ties with ASEAN through President Lee Myung-bak''s "New Asia Initiative."

According to the statement, ASEAN leaders showed support for Korea''s proposal to form regional cooperation organizations in the three selected sectors -- political and security, economic and social-cultural -- by 2015. They also agreed to make continued efforts to ease tension on the Korean Peninsula and help resume dialogue to resolve the North Korean nuclear issues in a peaceful way through the six-party negotiations.

The ASEAN leaders have also agreed upon the need to establish a cooperative structure to manage all kinds of transport and logistics, hoping that a Korea-ASEAN transport memorandum of understanding (MOU) can be signed by the end of 2009, and that a discussion on a Korea-ASEAN aviation MOU can begin by early 2010.

Korea and ASEAN further agreed to strengthen cooperation in labor standards, labor relations, fair employment practices and vocational skills development by providing education and running expert exchange programs. Korea will further intensify cooperation with Southeast Asian countries, which provide labor, and provide more support for Southeast Asian workers in Korea.

In regard to climate change, the 11 leaders agreed to jointly respond to recent lobal challenges, including the global financial crisis, economic depression, food security, energy security and pandemic influenza. To protect regional food security, Korea and ASEAN agreed to make efforts to build the ASEAN Plus Three Emergency Rice Reserve (APTERR).

Meanwhile, at the second session of the ASEAN-Korea summit on Tuesday, President Lee said Korea will provide US$200 million to East Asian countries through an “East Asia Climate Partnership.” Lee added that Korea will actively support ASEAN so that it can create new growth engines through green industry development and further achieve economic growth and better respond to climate change.

President Lee also proposed the establishment of an "Asia Forest Cooperation Organization" to jointly respond to climate change and asked for ASEAN countries to give their active cooperation and support.

Regarding the issue of regional financial security, Lee expressed his hope of early establishment of the multilateralized Chiang Mai Initiative fund and the development of an Asian bond market.