The purpose of this study is to analyze the current status and development capacity of the agricultural sector and rural areas in Vietnam, Cambodia and Laos. With the expectation about increasing cooperation with these countries in the future, population structure, growth contribution ratio by sector, development divide between the urban and the rural, migration and its causes, agricultural productivity, and food feasibility problem of the countries were quantitatively analyzed. Related to development strategies, the conditional convergence hypothesis of economic growth was tested with econometric models. In addition, long-term growth trend was estimated as well. To escape the development trap, to reduce poverty, and to induce the rural development, the role of government was emphasized. In fact, the countries have introduced integrated rural and agricultural development strategies with the concept of strategic complementary. With respect to the Official Development Assistance (ODA), the focus was put on Vietnam since it is more efficient and effective to enhance the mutual benefit between Korea and the Indochina Peninsula.