The establishment of the AEC and its implication for South Korea(5)

The establishment of the AEC and its implication for South Korea

The question is whether the AEC can evolve itself something beyond a regional agreement body. Doubts are cast upon the significant disparity of the social and cultural environment among the member countries. In addition, neither a single currency nor a central decision-making tower as those in the EU can’t be found. 

There exists considerable economic gap in the region as well. For example, Singapore is acclaimed to be in the rich Northern Hemisphere while Cambodia only records per capita GDP of about 1,000 USD.