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South Korea proposes aid plan in exchange for North Korea’s denuclearization

South Korea proposes aid plan in exchange for North Korea’s denuclearization

South Korean President Yun Suk-yeol announced today that he is offering Pyongyang a major aid package in exchange for denuclearization, an offer long rejected by North Korea.

Calling denuclearization “essential” to a lasting peace on the peninsula, Yun presented his offer, which includes food, energy, and aid to modernize infrastructure such as ports, airports and hospitals.

The plan “will gradually significantly improve North Korea’s economy and the living standards of its people if the North stops developing its nuclear program and commits to a genuine and meaningful process of denuclearization,” Yun said during a speech on the anniversary of the end of Japanese colonial rule in 1945.

According to experts on the region, the chances of Pyongyang accepting this offer, which Yun had already mentioned in his inauguration speech, are very slim, since the North, which invests much of its GDP in its weapons program, has long been clear that it will not enter into such an agreement.

Source: AMPE

Source: Capital