Stabilizing the Korea Peninsula Through Economic Cooperation

Abstract

Because of the complex historical backgrounds, stabilizing the Korea Peninsula will be a long-term process. In the face of enormous pressure from the powerful ROK-US Alliance and South Korea’s advanced economic development, North Korea will continue to pursue its military-first policy in the foreseeable future and is unwilling to fully open its doors. As a junction of Eurasia, North Korea has a unique geopolitical advantage. When it starts conduct an economic open door policy it would achieve great economic performance in future. Nowadays although North Korean officials do not recognize the reform and opening up policy, the fact is that North Korea has begun exploring the road to economic development. The promotion of peace and further development through economic cooperation is a more realistic and feasible means of bringing about effective resolutions. Economic cooperation on the Korean Peninsula will benefit the economic development of Northeast Asia and the rest of the world, But North Korea cannot conduct fundamental economic development without an improved external environment. Promoting economic cooperation should not only the core task of North Korea, but also the common focus of interested countries. Taking steps to improve North–South bilateral relations and avoiding military conflict are ongoing short-term concerns. In future, the international community also needs to improve economic cooperation with North Korea.