The National Assembly of the Republic of Korea ratified the Memorandum of Understanding on the Establishment of the Korea-ASEAN Center at its plenary session on February 29. Thereby, Korea has completed all necessary domestic procedures for the MOU to come into effect.

The Korean government will deposit the instrument of ratification in the ASEAN Secretariat this month. The memoradum will come into effect on the 30th day after the date all the 10 ASEAN member states have their instrument of ratification or acceptance deposited.
 
The Korea-ASEAN Center, which is to be established in Seoul in the first half of this year, is expected to promote trade, investment, cultural exchange and tourism between Korea and ASEAN, and thus contribute to further developing the Korea-ASEAN Comprehensive Cooperation Partnership.