[Full Text] President Yoon Reaffirms Joint Goal of North Korea's Complete Denuclearization

President Yoon Suk-yeol's Opening Remarks at the South Korea-US Joint Press Conference

[Image source=Yonhap News]

[Asia Economy Reporter Park Sun-mi] President Yoon Suk-yeol stated in his opening remarks at the joint press conference with U.S. President Joe Biden on the 21st, after their summit, "The two leaders reaffirmed the shared goal of the complete denuclearization of North Korea," adding, "If North Korea takes substantive steps toward denuclearization, we will prepare a bold plan in cooperation with the international community to dramatically improve North Korea's economy and the quality of life of its people."

Below is the full text of President Yoon's opening remarks at the Korea-U.S. joint press conference.

[I sincerely welcome President Joe Biden's visit to the Republic of Korea. In this summit, the two of us shared the goal of developing the Korea-U.S. alliance into a global comprehensive strategic alliance and closely discussed ways to implement it. Furthermore, through candid dialogue, we were able to build friendship and trust.

Today, I felt that President Biden and I are aligned in nearly all aspects. The Korea-U.S. alliance, which has developed over the past 69 years as a core axis of peace and prosperity in the region, now faces new challenges alongside the longstanding task of North Korea's denuclearization, including the pandemic crisis, changes in trade order and supply chain restructuring, climate change, and the crisis of democracy.

These challenges can only be overcome through solidarity among countries that share universal values of liberal democracy and human rights. The Korea-U.S. alliance is a model of such solidarity.

As a global comprehensive strategic alliance, the two countries will respond together to these challenges and work to establish a rules-based order.

The aspirations of President Biden and myself are well reflected in the joint statement to be adopted today.

I highly appreciate the trust and cooperation demonstrated by the working-level teams of both countries during the joint statement negotiations.

Sustainable peace on the Korean Peninsula is supported by a consistent North Korea policy based on principles. I will closely cooperate with the Biden administration to firmly maintain peace on the Korean Peninsula and make diplomatic efforts to encourage North Korea to engage in substantive cooperation through dialogue.

The two leaders reaffirmed the shared goal of the complete denuclearization of North Korea. Under the common understanding that security is non-negotiable, we agreed that a strong deterrent against North Korea is of utmost importance. President Biden confirmed the firm U.S. defense commitment to South Korea and the practical extended deterrence pledge.

At the same time, the Korea-U.S. alliance will make diplomatic efforts with the international community to ensure North Korea takes the path of genuine denuclearization. We will also thoroughly implement UN Security Council resolutions together with the international community.

The door to dialogue remains open.

If North Korea takes substantive steps toward denuclearization, we will prepare a bold plan in cooperation with the international community to dramatically improve North Korea's economy and the quality of life of its people. Regarding the current COVID-19 crisis, we are willing to provide active support on humanitarian and human rights grounds, separate from political and military issues.

We urge North Korea to respond positively to these proposals and take substantive denuclearization measures.

We live in an era where the economy is security, and security is the economy. Disruptions in supply chains due to changes in the international security order directly affect the lives of our people. The Korea-U.S. alliance must evolve further to meet this new reality. We must continuously consider and create benefits that both peoples can feel, not just in words but in actions.

President Biden and I agreed to strengthen practical cooperation in new industrial sectors such as semiconductors, batteries, nuclear power, space development, and cyber. We also agreed to actively respond together to market shocks caused by changes in the international order. As a first step, we established the "Economic Security Dialogue" between the presidential offices to maintain frequent communication and cooperation in economic security areas such as supply chains and advanced science and technology. An orderly and well-functioning foreign exchange market is essential for sustainable growth and financial stability. To this end, President Biden and I agreed to consult more closely.

We will work together in the nuclear power industry of both countries to develop and promote the export of new reactors and small modular reactors (SMRs).

Additionally, the two countries agreed to initiate negotiations on the "Defense Mutual Procurement Agreement," which can be considered an FTA in the emerging defense industry sector.

Our country has achieved remarkable growth based on the help of the United States and the international community amid the ravages of war.

The world now recognizes us as an advanced democratic country, a top 10 global economic power, and a cultural powerhouse. We will now proactively fulfill the roles expected of us by the international community, taking responsibility and contributing accordingly.

The Indo-Pacific region is important to both Korea and the U.S. The two countries will jointly build a rules-based order in the Indo-Pacific region. The first step is participation in the Indo-Pacific Economic Framework (IPEF). We will also formulate strategies to expand our regional contributions and roles.

The Korea-U.S. alliance will also cooperate more closely on pressing global issues. We agreed to actively cooperate with the international community to swiftly resolve the tragedy caused by Russia's invasion of Ukraine so that people can return to peaceful daily lives. We will actively participate in the international community's COVID-19 response efforts based on the global vaccine partnership. By establishing the Global Health Security (GHS) Coordination Office in Seoul, we will contribute to sustainable global health security. Regarding climate change, an existential threat to humanity, the two countries will cooperate more closely to achieve the 2030 greenhouse gas reduction targets and carbon neutrality by 2050.

Based on the friendship and trust built today with President Biden, we aim to further strengthen cooperation between the two countries toward a new era. For this, I hope the two countries will communicate frequently and consult closely. Thank you.]