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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Australia China India Indonesia Japan Malaysia Philippines Thailand Vietnam Search Search: N.Korea threat hangs over S.Korea, ASEAN summit AFP - Sunday, May 31 SEOUL (AFP) - - South Korea will Monday host one of its biggest-ever diplomatic gatherings, overshadowed by the growing security threat from North Korea. ADVERTISEMENT Seoul planned the ASEAN-Korea Commemorative Summit to promote its "New Asia Initiative" to strengthen its ties with the continent. But North Korea's relations with its neighbour and the world have worsened dramatically in recent months. Last week it tested its second nuclear bomb , renounced the truce in force on the Korean peninsula and threatened attacks on the South. South Korea has heightened vigilance for the June 1-2 meetings with leaders of the 10-nation Association of Southeast Asian Nations on the southern resort island of Jeju. "During the summit meetings, our military will escalate its alert and mobilise additional intelligence assets," Lieutenant General Jang Kwang-Il of the Joint Chiefs of Staff said last week. One commander said any North Korean border provocation is likely to be timed for the summit to cause maximum embarrassment. Seoul says the North's security threat will be a topic at the summit, called to mark the 20th anniversary of relations between South Korea and ASEAN. Leaders will also debate the global financial crisis, climate change and regional cooperation in trade, economic matters, security and culture. "In recent years, especially as we entered the 21st century, Asia has emerged as a great power economically and in many other aspects," South Korean President Lee Myung-Bak said recently. "That is why cooperation within the Asian region is important and that is why it is especially important to improve ties between Korea and ASEAN." South Korea sees ASEAN's almost 600 million people as a market for its export-dominated economy that can offset the recession in developed countries. The resource-poor nation is also eyeing its abundant raw materials. ASEAN is already South Korea's third largest trading partner, with two-way trade worth around 90 billion dollars last year, and its second largest destination for overseas investment. Korean investment in the region was worth 5.86 billion dollars last year. The figures will rise further when the two sides on Tuesday sign an investment pact, completing negotiations on a free trade agreement which began in 2005. Lee is due to raise issues of democracy during a meeting with his counterpart from military-ruled Myanmar. ASEAN has been reluctant to speak out against its most notorious member, but in May it expressed "grave concern" at the trial of pro-democracy leader Aung San Suu Kyi and reiterated its demand for her freedom. "With the eyes of the international community on Myanmar at present, the honour and the credibility of the Government of the Union of Myanmar are at stake," it added. Aung San Suu Kyi was charged with violating the terms of her house arrest after an uninvited American swam to her lakeside home. She has been under various forms of detention without trial for more than 13 of the past 19 years. "Our government is greatly concerned about the circumstances of Aung San Suu Kyi ," South Korean Foreign Minister Yu Myung-Hwan said this month, calling for Myanmar's ruling military junta to travel the path of democracy. Lee will use the summit to promote his low carbon, green growth policy. Presidential officials said he would also urge Southeast Asian leaders to help build a strong bond market in the region and fight protectionism during the global downturn. Some 700 business leaders from the 11 countries are due to meet separately on Sunday and Monday. An Economic Cooperation Forum Monday will consider ways to combat the world downturn which is threatening regional development. Email Story IM Story Printable View Blog This Sign in to recommend this article » 0 users recommend Related Articles: Asia Pacific Death toll in China coal mine blast rises to 30AFP - Sunday, May 31 Fiji bans 'inciteful' Christian conferenceAFP - Sunday, May 31 N.Korea threat hangs over S.Korea, ASEAN summitAFP - Sunday, May 31 Malaysian orangutan hospital sparks controversyAFP - Sunday, May 31 Aussie star Philippoussis falls on tough timesAFP - Sunday, May 31 Enlarge Photo N.Korea threat hangs over S.Korea, ASEAN summit Most Popular – Asia Pacific Viewed Vitamin D boosts brain power in middle-aged men Music icon Spector gets 19 years for murder Ancient eruption 'killed off world's sea life' US lab debuts super laser Talent judge defends singing sensation Boyle View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. 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