South Korea Presidential Office: A Vision to Improve the North’s Economy and Well-being

On August 15th, Kim Tae-hyo, the first chief of the South Korean National Security Office, said at a press conference held at the Longsan Presidential Office that President Yoon Suk-yeo was on the 77th of the Gwangbokjeol on the 15th, and the president presented a “bold idea” to north Korea at the anniversary celebration ceremony. The idea is a decisive and comprehensive vision based on north Korea’s substantial denuclearization progress, focusing on the ground-breaking improvement of north Korea’s economy and people’s livelihood.

Kim said that if North Korea participates in the denuclearization consultations with sincerity, it will actively seek economic assistance measures from the beginning of the initial consultation process, including large-scale grain supply linked to North Korean underground resources such as minerals, sand, and rare earths, also known as the Korean Peninsula Resources and Food Exchange Project, as well as demonstration projects for improving people’s livelihood in the fields of health care, drinking water, and mountains and forests.

Kim also said that if this agreement is reached, a North-South Joint Economic Development Committee will be established and launched to respond to phased denuclearization measures such as (nuclear) freezing, declaration, verification, and abandonment, and comprehensively promote North-South economic cooperation. He also expressed his hope that the South Korean Government will work with the North Korean authorities to implement a denuclearization plan and an inter-Korean joint economic development plan, and that the international community will actively participate and support it, and expects for the North’s respond.