The Association of Southeast Asian Nations (ASEAN) and the Republic
of Korea (ROK) established its Sectoral Dialogue Partnership in 1989.
Building upon this partnership, the ASEAN-ROK Cooperation Fund (AKCF)
was launched in 1990 to enhance mutual understanding of ASEAN and the ROK.
The fund was initially divided into two different funds (1) The Future Oriented Cooperation
Projects Fund, which focuses on people-to-people exchange; and (2) The Special Cooperation
Fund, which focuses on development cooperation for nine sectors. However, the two funds
were merged into a single ASEAN-ROK Cooperation Fund (AKCF) in 2015
Since its establishment in 1990 until 2016, the total contribution made to ASEAN Secretariat
accumulates to 81 Million USD. (The fund is transferred from the ROK to ASEAN