Advent of the Era of the AEC and Its Impacts on Singapore and Indonesia(31)

Comparative Study on the Perception and Response of Singapore and Indonesia

Going forward, Singapore will focus on capacity building and human resource development in the ASEAN countries to help them prepare for the 2015 deadline. 

In this respect, Singapore has spent more than US$120 million cumulatively in various initiatives and training programs to help narrow the gaps among ASEAN economies. Results of SWOT analysis on the Singapore's perception of and response to the formation of the AEC can be diagramed as below.

 

The establishment of the AEC and its implication for South Korea(8)

The establishment of the AEC and its implication for South Korea

Actually, Singapore has been importing housekeepers from its neighbors, Indonesia and the Philippines in particular. However, it will be highly likely that more human resources in various fields of the region will cross the borders of the ASEAN members with no limitation. 

In doing so, physical barriers will be torn down and regional exchanges and trades will be fairly accelerated. As a matter of fact, a global war without guns has been underway to attract the ASEAN actively stretching itself to the world. 

 

Establishment of the AEC and its implication for South Korea(8)

Establishment of the AEC and its implication for South Korea

However, it will be highly likely that more human resources in various fields of the region will cross the borders of the ASEAN members with no limitation. In doing so, physical barriers will be torn down and regional exchanges and trades will be fairly accelerated. 

This will also gear up the possibility of the realization of the AEC overcoming the concern that the AEC blueprint 2025 may remain a mere declaratory gesture. As a matter of fact, a global war without guns has been underway to attract the ASEAN actively stretching itself to the world.

The foundation of the AEC and its implication for South Korea(7)

The foundation of the AEC and its implication for South Korea

A local expert in Indonesia pictures potential changes in the region that the AEC may bring in the upcoming days. "People in Vietnam will start to learn the Thai language to drive taxies in Bangkok. There will be Laotians who will pick up Javanese text books to become cab drivers in Jakarta."

Actually, Singapore has been importing housekeepers from its neighbors, Indonesia and the Philippines in particular. However, it will be highly likely that more human resources in various fields of the region will cross the borders of the ASEAN members with no limitation. In doing so, physical barriers will be torn down and regional exchanges and trades will be fairly accelerated. 

Reason for applying for EWKLP(3)

Reason for applying for EWKLP(East-West Knowledge Leaders Program)

In doing so, I learned how textbook theories, such as marketing, human resource management and global strategy are put into reality in the fierce business world. 

Sometimes, professors are incorrect because they fail to catch up with fast-changing business trends. For example, most textbooks teach related diversification is good while non-related diversification is wrong. 

However, based on my on-the-spot-experience, some companies succeeded in expanding their business into non-related field. TAIHAN electric wire in Korea is a proper example. Although wire and cable are its core products, TAIHAN electric wire managed to make profits in the leisure and textile field through aggressive M&As. 

Establishment of the AEC and its implication(3)

Establishment of the AEC(ASEAN Economic Community)

A local expert in Indonesia pictures potential changes in the region that the AEC may bring in the upcoming days. “People in Vietnam will start to learn the Thai language to drive taxies in Bangkok. There will be Laotians who will pick up Javanese text books to become cab drivers in Jakarta.” Actually, Singapore has been importing housekeepers from its neighbors, Indonesia and the Philippines in particular. 

However, it will be highly likely that more human resources in various fields of the region will cross the borders of the ASEAN members with no limitation. In doing so, physical barriers will be torn down and regional exchanges and trades will be fairly accelerated. This will also gear up the possibility of the realization of the AEC overcoming the concern that the AEC blueprint 2025 may remain a mere declaratory gesture.

As a matter of fact, a global war without guns has been underway to attract the ASEAN actively stretching itself to the world. For instance, Japan has been striving to enhance its clout on the AEC by devoting itself to investment on the infrastructure and key industries. South Korean business people navigating new growth chances have unanimously pointed out that Japanese business presence is dominant in the region. Moreover, China is speeding up recently by utilizing its extensive networks across the region. China has maintained robust retail and wholesale channels in most part of the ASEAN since around the 16~17th century when the Western forces first embarked on their rush to Southeast Asia. 

Unlike competitors heading forward, South Korea is often regarded encountered with shabby circumstance. Worries are prevailing that South Korea is way behind not only the running Japan but also the flying China. Other major players including Australia, America and the North Europe don’t sit idle as well. Prediction is that the ASEAN may play a crucial role of the last resort to save South Korea suffering from chronic weak growth. Needless to say, systematic and long-term approach is desperately needed in the unprecedented era of the AEC.