The strategic importance of ASEAN countries is growing as major global developments such as the COVID-19 pandemic, heightened competition between the U.S. and China, and Russia-Ukraine War have had significant impacts on the stability of global market. The major countries around the world are now appreciating the need of reshaping global supply chains centering on ASEAN countries as they have abundant resources to replace the energy dependence on countries like Russia, where many countries have found it difficult to manage their energy risks, and to secure stable supply chains through import diversification. The United States with several Southeast Asian countries came together to initiate the IPEF(Indo-Pacific Economic Framework). The U.S. also showed its willingness to strengthen the U.S.-ASEAN cooperation with the first opening of the U.S.-ASEAN summit, the first of its kind in 45 years since its establishment of diplomatic relations with ASEAN. Likewise, China upgraded its relations with ASEAN into a ‘Comprehensive Strategic Partnership’ last year and strengthened its economic ties through RCEP coming into effect this year. As the Moon administration pursued its partnership with ASEAN with New Southern Policy putting forward people, peace, mutual prosperity, the Yoon administration is also expected to strengthen its partnership with ASEAN under the slogan of economic security. This session examines what the former administration achieved through New Southern Policy in the R.O.K.-ASEAN relations, what R.O.K.-ASEAN ties should pursue to secure stable supply chains in the future, what potential challenges it might face and how to deal with them.