With the Indo-Pacific region increasingly gaining recognition for its strategic im-portance, countries such as China, Japan, and India are seeking close economic coop-eration with South Asian countries. This report analyses these countries’ strategic perspectives and cooperation policies towards South Asia (Pakistan, Bangladesh, Sri Lanka) under the rapidly changing international political and economic environment, and examines Korea’s future economic cooperation strategies and policies. Korea’s economic cooperation with South Asian countries has mainly focused on ODA. Although trade and investment have been centered on some manufacturing industries, they have recently shown a shrinking trend. While competition among major countries in South Asia is in full swing, it is necessary to establish a new direction for economic cooperation and promote policies towards South Asia from a strategic perspective.