South Korean President Moon Jae-in suggests a single economic community between North and South

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The first step would be to physically reconnect road and rail connections with North Korea by the end of the year. Moon also proposed the creation of an “East Asian Railroad Community,” which would connect the two Koreas, China, Japan, Russia and Mongolia and would turn into an energy and economic bloc that would include the United States. “We must overcome division for our survival and prosperity,” Moon said.

Korean-Peninsula-map

He also observed that the European Union first began as a coal and steel community and said that improved economic ties would help push the peace process forward. Moon estimated that cross-border economic cooperation would generate at least $150 billion over the next 30 years. He visits Pyongyang next month for talks with North Korean leader Kim Jong Un. It will be the third time the two leaders meet in a series of diplomatic engagements. In Tuesday’s speech, Moon called on the United States and North Korea to cooperate to move the peace process forward. “I hope that the implementation of the complete denuclearization of North Korea and corresponding comprehensive measures by the United States will be pursued quickly,” he said.

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