Distinguished business leaders from ASEAN,
Your Excellency Prime Minister Abhisit of Thailand,
Your Majesty, Excellencies, distinguished guests, ladies and gentlemen,

Let me extend to all of you my warmest welcome for visiting the Island of Peace, the Green Island of Jeju. I also extend my warmest greetings to our Korean business leaders who are here today. 

As you know, I was once a businessman myself. And while I was a businessman, I was privileged to have worked in almost all of the ASEAN member states. To this day, I am honored to be considered a friend by many ASEAN political and business leaders and delighted to keep in touch with many of them. It is for these reasons that I am so happy to see all of you today.

I hope that your time here in Jeju will be a time to make new friends, explore new opportunities and pursue the promises that we made for common prosperity between Korea and ASEAN.

Distinguished business leaders, ladies and gentlemen,

With its immense potential and growth opportunities, the Asian region is fast becoming a pillar in global growth.

However, the world is faced with an unprecedented global economic crisis and the Asian economies are not exempt. This is a global problem that calls for global solutions. More than anything, we need to pull together our potential and possibilities for renewed growth that Korea and ASEAN possesses.

Korea and ASEAN understands the importance of cooperation and mutual trust because we all experienced the Asian financial crisis ten years ago.

In particular, the role and responsibility of CEOs have become even greater as we try to navigate and overcome the current economic and financial crisis.

It is people like you who are the ones that create new jobs and raise productivity. It is people like you who are the ones who face challenges and turn them into opportunities through your creative energy, sheer determination and vision. You are the ones who shape the future by looking towards the future.

This is one of the reasons why today''s CEO Summit is especially significant. It is because you are the ones who are the link connecting Korea and ASEAN together. It is because you are the ones exploring new possibilities for the future and the ones who will make things happen. Today, this is our chance to share our thoughts and pool our wisdom to overcome the economic crisis. It is our chance to come up with new models of development.

Ladies and gentlemen,

This year we are celebrating the twentieth anniversary of the start of the official dialogue between Korea and ASEAN. During this time, our bilateral trade has increased 11 times from 8.2 billion dollars to 90.2 billion dollars. ASEAN''s investment into Korea has increased 34 times from a mere 200 million dollars to more than 6.8 billion dollars.

ASEAN is Korea''s third largest trading partner and second largest investment destination. Korea is ASEAN fifth largest trading partner. Every year, we have more than 4 million people from Korea and ASEAN visiting each other.

Now, it is time for us to take the next big leap based on what we achieved. We must strengthen our economic partnership, expand cultural exchange and become partners in our common goal of taking the lead in the new era of green growth. For this, we wish to propose three areas of cooperation between Korea and ASEAN, namely increasing trade and investment, expanding cultural exchange and promoting tourism and finally, strengthening cooperation in the area of green growth.

First, regarding increasing trade and investment.

Our economic relations has grown tremendously over the last few decades. The sheer volume of trade and the interrelatedness of our economic relationship must now become the basis for the establishment of a real business community. We must strive to become one business and economic community where business is done in a free environment.

Korea and ASEAN possess what no other economic entities have. We have an abundance of human and natural resources. We have the vast potential for further growth. Geographically, the more we cooperate, the more we benefit from each other. This is the kind of relationship we enjoy.

We can become one. We can become one because we have what is most important : mutual trust and respect which grew out of years of exchange and cooperation.

Korea and ASEAN must adhere to the basic principle that free trade promotes freedom and well-being of mankind. We must continue to increase trade and mutual investment. We must also reject all forms of protectionism.

Fortunately, service agreement between Korea and ASEAN was recently concluded following the goods agreement. During this commemorative summit, we will finalize the Korea-ASEAN investment agreement as well. With that, we will now be able to lower all barriers in areas of goods, services and investment. This is, again, one way for us to come closer to our goal of a common economic and business community.

With the launching of the Korea-ASEAN FTA, we are now prepared to usher in a new era of closer economic and trade relations.

The lead players of the Korea-ASEAN FTA are none other than you, the business leaders. Through the FTA, you must create new opportunities.

Secondly, we must expand cultural exchange and promote tourism. We must freely visit each other and deepen our mutual understanding. When we continuously create opportunities through which we deepen our understanding of each other, then more and more people will want to become friends and business partners.

Already, we meet with each other through food and culture. Many Koreans are avid collectors of artwork from our ASEAN members. More and more Koreans are becoming fans of the rich and diverse ASEAN cuisine. Every year, 3.2 million Koreans travel to the various regions of ASEAN in search of cultural wonder and green splendor. Every year, more than 800,000 people from ASEAN countries visit Korea to enjoy the Korean Wave.

People to people exchange is increasing dramatically. There are many people from ASEAN countries who have settled down in Korea to form multi-ethnic, multi-cultural families. Many students from ASEAN countries study in various colleges, universities and research institutes around Korea.

Korea will invite 7,000 students from ASEAN countries by 2015 and send forth more than 10,000 overseas volunteers to ASEAN countries. More exchanges will lead to more opportunities.

Last March, here in Korea was established the Korea-ASEAN Center. This center will contribute to promoting trade and investment between Korea and ASEAN but also be a venue to expand exchanges in various fields, including cultural exchange, tourism and people to people exchange.

Third, Korea and ASEAN must cooperate in the area of green growth which is certainly going to be a win-win solution.

Korea was one of the first countries in the world to officially declare green growth initiative as its national vision and development strategy for the future. Green growth is about protecting the environment and at the same time ensuring job creation. It is also about sustainable development whereby economic development will allow us to effectively protect the environment. It is about creating a positive cycle.

Green growth is our creative way of dealing with the environment, climate change and energy. Already, members of the G-20 have agreed to pursue green growth as the vision for the future.

I strongly hope for Korea and ASEAN to become partners in this area. If we can work together based on such immense potential, we can bring about a new global standard for all to share.

During the last century, we were late in achieving industrialization. But, this will change in this new century. We can pave a new way forward.

Korea has announced the East Asia Climate Partnership and set aside 200 million dollars for this initiative. This plan will proceed together with our ASEAN partners. I ask for your support.

Also, we wish to establish a green growth belt that encompasses Korea and ASEAN. For this, we will need to invest and cooperate in developing new and renewable energy, joint forestation projects and various kinds of eco-friendly technologies.

In June here in Jeju, the World Wind Energy Conference and Exhibition will be held. For those of you preparing for the future, I ask that you continue to have an interest in this matter.

Distinguished guests,

Last March when I was visiting Indonesia, I announced our New Asia Policy. What this policy aims to achieve is to strengthen our friendship with our Asian partners and strive towards common prosperity.

Korea will share its development experience and also provide knowledge on areas that we have an edge such as IT and others. We hope to contribute to lessening the development gap within Asia.

By 2015, our ODA towards ASEAN will be increased two fold compared to last year.

Korea will be your true friend and partner for common prosperity.

Jeju Island is famous for its beautiful landscape and natural wonder. It is also known as an island of peace. It is also an independent administrative area which is a special economic zone where you do not need visa in order to visit. Already, the Burjaya Group of Malaysia and many other business groups are investing in tourism and new and renewable energy.

The friendship that we renewed here in Jeju, the opportunities that we explored and the promises that we made here in Jeju will be the foundation of our new common prosperity.

Thank you.