South Korea's President Moon Jae-in urged North Korea to take firmer disarmament measures and the US to reward them, suggesting Thursday he'll push for sanction exemptions to restart dormant economic cooperation projects with the North.
Some experts say the sanctions relief, if pursued before South Korea's ally Washington is ready, could weaken ties with the United States and complicate efforts to rid the North of its nuclear weapons.
But others say Moon simply made a symbolic, conciliatory gesture toward North Korea.
Moon spoke only days after North Korean leader Kim Jong Un said in a New Year's Day address that he was ready to resume the two major stalled inter-Korean projects.
Kim also said he'll be compelled to take a different path if the United States keeps pressing for unilateral sanctions against the North as well as maintaining broader UN sanctions.
The two projects are South Korean tours to the North's scenic Diamond Mountain and a jointly run factory complex in the North Korean border town of Kaesong.
They were suspended in the past decade along with other similar projects amid the standoff over North Korea's nuclear program.
The two projects were considered key sources for badly needed foreign currency for the impoverished North.
"We welcome North Korea's intention to resume their operation without conditions or compensation," Moon said.
"My administration will cooperate with the international community, including the United States, to resolve the remaining issues such as international sanctions as soon as possible."
Moon said resolving the issue of the North Korea sanctions hinges on how fast
He said that the second summit, and a return visit to Seoul by Kim, "will be other turning points that will firmly solidify peace on the Korean Peninsula."
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
