Diplomacy Journal Kim Tae Yeon | On the morning of August 23rd, Foreign Minister Cho Hyun attended the "27th ASEAN+3 Foreign Ministers' Meeting" held in Manila, Philippines, and exchanged views with the foreign ministers of ASEAN, Korea, China, and Japan on ways to strengthen practical cooperation and on regional and international affairs.

The meeting focused on discussing joint cooperation measures at the ASEAN+3 level to address global supply chain disruptions and uncertainties regarding food and energy security stemming from recent developments in the Middle East. It also covered the Assessment of ASEAN+3 Cooperation in Overcoming Regional Crises.

Minister Cho assessed that ASEAN+3 has accumulated tangible results in responding to regional crises, such as the Asian financial crisis and COVID-19.
In particular, Minister Cho cited the ‘Multilateralization of the Chiang Mai Initiative (CMIM),’ a regional financial safety net, and the ‘ASEAN+3 Emergency Rice Reserve (APTERR),’ designed to respond to disasters and food crises, as representative examples of cooperation.

Minister Cho diagnosed that recent supply chain disruptions surrounding the Strait of Hormuz have exposed the structural vulnerabilities inherent in regional food and energy security. He further emphasized the need to further strengthen the joint response framework at the ASEAN+3 level to effectively respond to external shocks and crises.

Korea takes the lead in responding to food crises, contributing approximately 40,000 tons of rice.
Regarding food security, Minister Cho explained that Korea is the largest contributor to the ASEAN+3 Emergency Rice Reserve, having contributed approximately 40,000 tons of rice to date.

In addition, he introduced the specific achievements of APTERR in regional disaster situations, such as providing assistance for the earthquake in Myanmar and flood and landslide damages in Laos.

Minister Cho proposed expansion of creative and practical cooperation beyond existing rice stockpiling and aid to more effectively respond to the food crisis, which is complexly intertwined with climate change, natural disasters, supply chain instability, and fertilizer shortages.

Supply Chain Diversification and Strengthening Regional Energy Security:
Minister Cho stated that concrete and practical cooperation is also necessary in the field of energy security to diversify supply chains.

Korea plans to actively contribute to the establishment of the "ASEAN Power Grid (APG)," which promotes power connections among ASEAN countries, and strengthening ASEAN's capacity for the safe and peaceful use of nuclear energy.

Furthermore, he expressed his intention to enhance regional energy supply stability and crisis response capabilities through cooperation with the International Energy Agency (IEA), and to strengthen a sustainable energy security system.

“Korean Peninsula issues must be resolved through dialogue and diplomacy”
Minister Cho explained the Korean government's efforts to realize a Korean peninsula where the South and North coexist peacefully and grow together. He went on to express his hope that ASEAN+3 member states would work together for peace and stability on the Korean Peninsula, as well as for lasting peace and sustainable prosperity in the region.

The participating countries agreed that existing cooperation frameworks in the fields of food and energy security must be developed into more practical joint response systems to counter external shocks and disruptions to global supply chains.

They also agreed to continue exploring cooperation measures in various fields, including finance, food, and energy, based on the ASEAN+3 cooperation framework. The participants shared the view that the issue of the Korean Peninsula should also be resolved peacefully through dialogue and diplomacy.
This meeting is assessed as having served as an opportunity for ASEAN, South Korea, China, and Japan to jointly respond to complex supply chain crises based on the achievements of existing cooperation, and to further strengthen the regional safety net in the food and energy sectors.