S.KOREA TO PLAY GREATER ROLE IN NORTHEAST ASIA COOPERATION.

SEOUL, March 1 Asia Pulse - South Korea expects to play a greater role in increasing financial cooperation and coordination in Northeast Asia, participants in an international conference said Saturday.

Experts on regional development such as Bae Soon-hoon, the chairman of the Presidential Committee on Northeast Asia, said South Korea is ideally placed in terms of economic development and location. Delivering a speech at a gathering at the Shilla Hotel to mark President Roh Moo-hyun's first year in office, the official said the country could provide attractive business services for the entire region.

"It could become one of the business hubs in the region in a complimentary manner along with other cities like Hong Kong, Singapore and Shanghai," he said. The official said that using its geographical location, South Korea could promote the free flow of people, goods, investment, technology and management know-how.

Bae, formerly president of Daewoo Automotive Components, said the country is small enough to live with niche markets, and at the same time big enough to test out leading edge technology in the domestic market.

Reflecting the size and development stage of South Korea, Japan and China, the official said China should emphasize manufacturing for fast growth, while Japan could further explore leading edge technologies. South Korea could play a role in coordinating the manufacturing and technology for the entire bloc.

Others, including Haruhiko Kuroda, special adviser to the cabinet of Japan, said the 1997 Asian financial crisis has caused greater interdependence among North East Asian economies in both trade and financial areas.

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