Country Reports

Moon Jae-in, during his address to mark Korea’s 73rd Liberation Day, mentioned the word “peace” the most—21 times—and “economy” the second most—17 times—to stress the importance of economic cooperation with North Korea. Moon released his economic vision to be achieved by improving relations with the North and Pyongyang’s denuclearization, saying, “Advancement in inter-Korean relations is the driving force behind denuclearization of the Korean Peninsula” and added, “When peace is established on the Korean Peninsula along with complete denuclearization, economic cooperation can be carried out in earnest.” He also said, “When the dreams of a peace-based economy and economic community are realized, our economy can take a new leap forward.” As for the details required to realize his vision, Moon proposed inter-Korean railroads and natural resource development projects; he also suggested resuming operations of the Kaeseong Industrial Complex and Mount Geumgang tours, emphasizing, “When the two Koreas undertake full economic cooperation, the result will be incomparably greater.”

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