This paper aims at analyzing the factors affecting the emergence, process, and performance of the Nordpolitik, further making comparisons with those of the Eurasia Initiative during the Park Geun-hye Government. In the midst of the unravelling of the Cold War, the Roh Tae-woo Government launched the Nordpolitik, which turned out to be a turning point in Korean diplomatic history. It was successful in bringing about establishment of diplomatic relations with communist countries including the Soviet Union and China and a temporary rapprochement with North Korea. Derived from comparative foreign policy theories, this study adopts three categories of variables for explaining the rise and implementation of the Nordpolitik during the Roh Government: international political contour, domestic socio-political situation, and leadership.BR Above all, the Nordpolitik was made possible as a result of U.S. policy of ‘benign negligence’ in the wake of the disintegration of Cold War rivalry between the United States and the Soviet Union. On top of the tectonic changes in geopolitical landscape, the leadership of Roh Tae-woo, who had been engaged in cultivating a continent-oriented policy for years, played a key role in bringing the Nordpolitik into fruition. Meanwhile faced with relatively unfavorable domestic political circumstances, Roh attempted to utilize the Nordpolitik as a tool for political breakthrough, while managing to control the implementation process of the Nordpolitik with adroit strategies and tactics.BR In contrast, the Eurasia Initiative under the Park government is considered as an updated and expanded version of the Nordpolitik, because the former is designed to promote cooperation with countries in the Eurasian Continent in a wide variety of issue areas from political and diplomatic cooperation to economic ties, to cultural exchanges with Eurasian countries. Yet, given such ambitious objectives, the Eurasia Initiative did not meet expectations with meager performance. Compared with the Nordpolitik, the geopolitical environment under which the Eurasia Initiative was proposed and implemented proved to be unfavorable with mounting rivalry between the United States and China in Northeast Asia, while confrontation between the West and Russia was on the rise in Europe. Additionally, the leadership of President Park has been blamed for the lack of long‐term perspective on Eurasian cooperation and rapport with the mass public.BR As such, although the Eurasia Initiative left much to be desired, the Republic of Korea has no choice but to seek for a long-term, comprehensive, and multi-dimensional ‘Neo-Nordpolitik,’ or a new type of continent-oriented policy. Making the best of experiences of the previous Nordpolitik, the new leadership of the ROK should contrive and implement a ‘Neo-Nordpolitik,’ which may contribute to stability in the Korean Peninsula, ultimate unification of the two Koreas and further harmony and prosperity in the Eurasian Continent.