ROK to develop reunification plan

According to Yonhap:

In a move likely to draw a harsh response from North Korea, South Korea will push to come up with a plan by mid-2011 to handle the costs of unifying itself with the impoverished communist neighbor, a senior official said Tuesday.

In an August address, South Korean President Lee Myung-bak proposed a “unification tax” and suggested that his country begin discussions on dealing with what may be astronomical costs of merging with North Korea, an elusive decades-old national goal.

Unification Minister Hyun In-taek said Tuesday in a meeting with civilian advisors on relations with North Korea that his government will work with a group of researchers starting next month to create a blueprint for financing the costs of reunification.

“Based on the research to be completed in February next year, opinions from within the government will be collected by April, and a report will be presented to parliament by June,” he said.

Experts say the costs of merging the divided states will amount to trillions of U.S. dollars in the worst scenario possible.

The state-run Korea Development Institute said in August that the South will need US$2.14 trillion over three decades in the event of a regime collapse in Pyongyang, which could spark political and social chaos in the communist country.

Read the full story here:
S. Korea to draw up plan for financing reunification with N. Korea: official


One Response to “ROK to develop reunification plan”

  1. Colin says:

    Ill bet a lot of private sector money will flow north in the event of actual reunification. The potential opportunities that exist are mind-blowing and im sure it would be easy to find a financier to back just about any NK play.