Lee Myung-bak's election pledges on North Korea

‘Denuclearization and Openness 3000’

Main point is helping NK achieve an average economic growth of 17 per cent for ten years and ultimately reach $3,000 per capita GDP.

The goal can be achieved through comprehensive aid packages, in hands with international community. The aid package is divided into five sectors: economy, education, finances, infrastructure, and welfare.

Details on ‘Comprehensive aid packages’

1. Economy
- sending economic experts for business, legal, financial consulting
- establishing five free trade zones in NK
- nurturing 100 companies which are capable of exporting more than $3m a year
- Korea’s overseas networks such as KOTRA will give help in this matter

2. Education

- educating 300,000 experts on economy, finance, and technology
- establishing technology-education centers in 10 North Korean cities
- sponsoring establishment of research centers like ‘KDI’ and ‘KAIST’
- supporting North Korean universities to have proper economy, finance, and trade curriculum

3. Finance

- helping NK take out loans from World Bank or ADB
- raising inter-Korean cooperation funds: $10bn for the space of 10 years
- supporting NK for luring direct investment from overseas
- persuading Japan to give financial support depending on relations between NK and Japan

4. Infrastructure

- providing infrastructure to relieve energy shortage
- building basic infrastructure such as ports, railroad, and roads
- building 400km-long highway connecting Seoul and Sinuiju
- making sure Grand Cannal can be useful in NK as well

5. Welfare

- relieving food shortage, thus solving absolute poverty
- dispatching medical workers and improving hospital conditions
- rebuilding houses and improving water supply and drainage system
- planting 0.1 bn trees for greener environment

A New Vision for the Korean Peninsula

It is an upgraded version of ‘Denuclearization and Openness 3000.’

The establishment of a consultation body with NK for an inter-Korean economic community will be the first step for that matter.

The two Koreas will work on detailed matters covering from economy to welfare, and try to raise ‘international cooperation fund,’ of up to $40 bn. Depending on the outcome of denuclearization process, the body will further work on other projects.

Regardless of nuke issues, humanitarian works especially establishing flood-preventing infrastructure will start and a humanitarian cooperation office dealing with food shortage and medical assistance will be set up in North Korea.

The Vision set the goal of more active private and material exchanges between the two Koreans, and more Korean companies involved in inter-Korean business.

Aid should be an investment and a win-win project. No one-way

The consultative body will also pursue concluding Korean Economic Community Cooperation Arrangement (KECCA) with NK for more active inter-Korean economic cooperation, which will serves as a legal and institutional support system.