The purpose of this research was to investigate the possibilities and opportunities for ASEAN and Korea student exchange programs in the post-COVID-19 pandemic era, by focusing on the needs of non-participating ASEAN students. To do so, this study conducted an online survey to analyze ASEAN students’ understanding, views, expectations, and reasons for not participating in student exchange programs to Korea, while investigating their considerations and preferences for future participation. The findings revealed significant differences between ASEAN students in terms of nationality (especially Vietnamese students), academic field, and gender. They also highlighted the rising role and importance of hybrid and online modes of student mobility, that grew in the wake of the COVID-19 pandemic. Therefore, there is a need for universities, government policy makers and educational scholars to reflect the emerging new needs of students concerning ASEAN-Korea exchange programs in the post-COVID-19 pandemic era.