"As ASEAN is composed of 10 countries with different levels of economic and technology, we need to deal carefully with various demands for cooperation," Yonhap news agency quoted the RoK’s industry minister Sung Yun-mo as saying.

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RoK's Industry Minister Sung Yun-mo delivering a speech during the ASEAN-ROK CEO Summit (Photo: Yonhap)

The remark came during the two-day special group summit between the RoK and the 10 countries of ASEAN, which kicked off in the port city of Busan, 450km southeast of Seoul, earlier in the day.

The RoK's industry ministry said the new platform could pave the way for the country to expand ties with ASEAN countries at different levels.

It added that the country could, for example, implement projects to beef up the competitiveness of Vietnamese firms based on its advanced technologies. The RoK could also seek after further progress with countries that already have a high technological level, such as Singapore.

Besides, the RoK vowed to work with ASEAN to establish a joint research center for standardization.

According to the minister, the RoK will share its standards and related know-how with ASEAN member countries, which will help in improving the quality of the products sold in the market, eventually leading to shared growth and prosperity.

Source: VNA