ASEAN and India are emerging as GVC hubs in the world and the countries are now regarded as the "next China." Korea has a strong economic relationship with ASEAN and India, and the regions are emerging as major production hubs for Korea. However, the recent economic environment in the region, such as the emergence of COVID-19 and the prevalence of global trade protectionism, deteriorates the potential for economic cooperation between Korea and NSP countries. To deliver practical policy suggestions, our analysis aims to understand the GVC structure of NSP countries based on a concrete database and in-depth firm-level survey.