Word: pyongyang
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...prediction would have once been laughable. After all, North and South Korea are still technically at war, and in the autumn of 2006 Pyongyang's insular regime defied the world by testing a nuclear bomb. But since February 2007, when North Korean dictator Kim Jong Il struck a deal with the U.S., Japan, Russia, China and South Korea to begin dismantling his nuclear program in exchange for aid and normalized relations with Washington, there has been a burst of cooperation between the two Koreas. In mid-December, a direct rail link opened between Seoul and the Kaesong Industrial Complex across...
...Indeed, when Lee is inaugurated next month, he will assume office at a crucial time for the Korean peninsula. In October, outgoing South Korean President Roh Moo Hyun met in Pyongyang with Kim Jong Il, marking just the second inter-Korean summit ever. The North may also be on the brink of a historic peace agreement with the U.S. - one that President George W. Bush, in his last year in office, appears to want desperately in order to shore up his controversial foreign-policy legacy. A deal between Washington and Pyongyang - predicated on the North verifiably giving up its nuclear...
...leaves office next month. (South Korean Presidents under the constitution are limited to one five-year term.) In his first years in office, Roh was derided by many in Washington as an apologist for Kim Jong Il. Now, Bush has all but adopted the "Sunshine Policy" by promising Pyongyang a range of diplomatic and economic blandishments in return for the North's nuclear disarmament. Although Pyongyang missed a Dec. 31 deadline to come clean about the full extent of its nuclear-weapons program, as it had promised to do, the North is already dismantling its plutonium reactor at Yongbyon - which...
...also underway to repair a rail line linking Kaesong with the North Korean city of Sinuiju on the Chinese border - promising to give South Korean companies an overland transport route to the booming mainland. The South has also promised to help rebuild the main highway from Kaesong to Pyongyang. Given that there is already an expressway that runs from Seoul to the DMZ, optimists such as Lee Im Dong of the Kaesong Industrial Council note that this would, in effect, link Seoul to Pyongyang with a modern road in just a few years. South Korea is also interested in rebuilding...
...Economic Promise, Political Risk Such animosity highlights the fragility of ongoing efforts to pacify the North by boosting its parlous economic condition. South Korea's giant conglomerates like Samsung are unlikely to invest significantly until the U.S. removes Pyongyang from its list of state sponsors of terror and also amends its Trading with the Enemy Act, which imposes sanctions on North Korean trade. And billions of dollars, not just from South Korea but also from the U.S., Japan and China, will be needed to bring North Korea into the global economy - assuming, that is, that Kim Jong Il wants...