North Korea-South Korean Summit and North Korea-U.S meeting in Singapore hopes for greater foreign investment and trade
On April 27th, South Korean President, Moon Jae-In and North Korean leader, Kim Jong-Un, met at DMZ writing a new chapter in both countries’ history. Both leaders walked hand in hand over the North – South Korean border previous to discuss several issues regarding the two nations such as: the Peninsula denuclearization, the improvement of their economic bilateral relations and the official ending of the Korean War Armistice to bring back the peace that Koreans much yearn.
Since the Korean War was put on hold, two more Korean summits have taken place over the past 60 years. However, this one differs from previous ones as the North Korean leader agreed to step, even though it was for a short moment, onto South Korean ground.
One of the highlights of the summit took place when former South Korean President handed a USB drive to North Korean leader which contains a new economic map for the Korean Peninsula. This map aims to establish three economic projects which will contribute to the economic development of both countries as well as the empowerment of their economic relations. The first economic plan or “belt” targets the development of the energy sector.
The second belt aims to improve industry, logistics and transportation which will promote joint economic development. Last but not least, the third project, the eco-tourism belt, would restore tourism along the DMZ.
Both countries agreed on meeting with the United States and China. In this context, on the following 12th of June a summit between North Korean President, Kim Jong-Un and United States’ President, Donald Trump will take place in Singapore.
Meanwhile, the international community is looking forward to see how the relations between both Koreas will development in the near future. A greater cooperation between both countries could mean the opening of North Korea to mayor international trade and foreign investment.
Posted by escck Posted on 04 Jun