Yoon Proposes 'Bold Initiative' to North Korea... "Dramatic Improvement in Economy and Livelihood" (Update)

"Denuclearization Essential for Global Sustainable Peace"... First Mention of Specifics Like Food Supply and Infrastructure Support

[Image source=Yonhap News]

[Asia Economy Reporter Baek Kyunghwan] President Yoon Suk-yeol stated on the 15th, "If North Korea halts its nuclear development and transitions to genuine denuclearization, we propose a bold plan that can dramatically improve North Korea's economy and the livelihood of its people."

President Yoon attended the 77th Liberation Day celebration held at the lawn yard of the Yongsan Presidential Office that morning and said in his congratulatory speech, "Denuclearization of North Korea is essential for sustainable peace on the Korean Peninsula, in Northeast Asia, and worldwide."

As specific measures of the 'bold plan,' President Yoon mentioned ▲a large-scale food supply program ▲support for power generation and transmission infrastructure ▲modernization projects for ports and airports to facilitate international trade ▲technical support programs to enhance agricultural productivity ▲support for the modernization of hospitals and medical infrastructure ▲international investment and financial support programs.

This is the first time President Yoon has revealed the detailed contents of the bold plan, a policy for North Korea's denuclearization transition. In his inauguration speech on May 10, he stated, "If North Korea stops nuclear development and transitions to genuine denuclearization, we will prepare a bold plan to dramatically improve North Korea's economy and the quality of life of its people in cooperation with the international community."

President Yoon emphasized, "Freedom, the spirit of the independence movement, creates peace, and peace protects freedom," adding, "Peace on the Korean Peninsula and in Northeast Asia is a crucial prerequisite for world peace and forms the foundation for protecting and expanding the freedom of us and global citizens."