Kim Tae-hyo Deputy General Manager "Corresponding to Gradual Denuclearization Measures... Committee for Inter-Korean Economic Cooperation to Be Activated"
Yoon "If North Korea Transitions to Denuclearization, Support Will Be Provided to Radically Improve Economy and Livelihood"
[Asia Economy Reporter Bae Kyunghwan] On the 15th, the Presidential Office expressed its position on the 'Bold Initiative' toward North Korea mentioned in President Yoon Seok-yeol's Liberation Day address, stating that a roadmap for cooperation in the political and military sectors has also been prepared. In particular, it announced, "If a comprehensive agreement on North Korea's denuclearization is reached, we will activate the Inter-Korean Joint Economic Development Committee for inter-Korean economic cooperation in accordance with phased measures."
Kim Tae-hyo, the First Deputy Director of the National Security Office, explained to reporters at a briefing at the Yongsan Presidential Office in the afternoon that the 'Bold Initiative' is "a comprehensive plan that includes cooperation measures in the economic sector as well as roadmaps for cooperation in the political and military sectors." Kim added, "In the military sector, tension reduction measures should progress to the trust-building stage," and "In the political sector, peace-building measures should be finalized at the peace settlement stage." He continued, "The core points were proposed with a primary focus on economic development plans that North Korea is believed to need," and said, "It is a bold proposal in that economic support measures will be actively considered from the initial negotiation process if North Korea approaches denuclearization talks with sincerity."
He also mentioned the Inter-Korean Joint Economic Development Committee to fully activate inter-Korean economic cooperation. Kim said, "If a comprehensive denuclearization agreement is reached, the committee will be activated to fully promote inter-Korean economic cooperation in accordance with phased denuclearization measures such as freeze, declaration, inspection, and dismantlement."
Earlier, in his morning address, President Yoon presented the 'Bold Initiative' stating, "If North Korea stops nuclear development and transitions to practical denuclearization, we will support the revolutionary improvement of North Korea's economy and livelihood in accordance with that stage." President Yoon said, "If North Korea halts nuclear development, we will implement large-scale food supply programs, support for power generation and transmission infrastructure, modernization projects for ports and airports for international trade, technology support programs to enhance agricultural productivity, modernization support for hospitals and medical infrastructure, and international investment and financial support programs."
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