South Korea Proposing Billions of Dollars In Economic Aid Despite North Korean Provocations

What does North Korea have to do to convince the Korean left that billions of dollars in economic aid the Kim regime can use to bolster their nuclear and missile programs is not a good idea?:

This file photo taken on Aug. 23, 2017, shows President Moon Jae-in presiding over a foreign and unification policy discussion meeting in Seoul. (Yonhap)

South Korea’s unification ministry said Friday it plans to seek trilateral economic cooperation involving the two Koreas and Russia after taking into account international sanctions and public sentiment.

President Moon Jae-in has unveiled the so-called new Northern Policy designed to expand economic cooperation with northern states including North Korea.

The Ministry of Unification said that the initiative involving the two Koreas and Russia will help implement Moon’s another vision to build a new economic belt with North Korea.  (…..)

The JoongAng Ilbo reported that the government plans to boost the fund by about US$2 billion to fund a potential trilateral project among Seoul, Pyongyang and Moscow to establish the complex in areas spanning the North Korean port city of Rajin and Russia’s Khasan.

Lee said that the report is not true, saying that the state inter-Korean cooperation fund for next year amounts to just 1.046 trillion won.

The idea of building a factory park in the Rajin-Khasan area was first floated under the liberal government of former President Roh Moo-hyun in 2003-2008. But it was known to be put on hold mainly due to North Korea’s first nuclear test in 2006.  [Yonhap]

You can read more at the link, but I am sure it would interesting to be a fly on the wall and listen to President Trump reaction after he reads this.

GIKorea

GIKorea

I am a US military veteran that has served all over the world to include in Iraq, Afghanistan, and Korea. I have been blogging about Korea, Northeast Asia, and the US military for over 10 years.

6 Comments

  1. I wonder if the Brits ever called “Danegeld” the eleventh century equivalent of “Economic Aid”

    That’s all this is. A bribe in hopes of not getting attacked later. The price keeps going up and up, especially if the payer is doing well. Or better yet, not doing so hot.

  2. There’s very good reason to suppose that any funds sent North will be in violation of UN sanctions which the SK government has already signed off on, so that’s not going to be an easy sell to anyone else in the UN who supported those sanctions.

  3. Would be better to spend billions of dollars on weapons. This mad fool Moonie.

  4. South Korea is begging for an American preemptive strike without concern for South Korea.

    …or maybe South Korea knows it is coming…

    …and is positioning itself in such a way in hopes North Korea won’t include South Korea in the payback list.

  5. I still can not decide if moon is just the village idiot, proposing some to the stupidist ideas ever or a paid agent of nK, working hard to bring about the unification under the glorious red banner of Kim.

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